Princeton Apartment Homes

Investment Highlights

• Seventy-Five Percent Two-Bedroom Units
• Attractive Non-Recourse Loan at 4.29 Percent
• Historically High Occupancy
• Eighteen Percent Total Return Day One of Ownership
• Located in Highly Demanded Mesquite Submarket
• Beautifully Maintained Asset
• 27.92 Percent Leverage 10 IRR

Princeton Apartment Homes is a 164-unit multi-family community located in Mesquite, Texas. The property is located at 4300 Gus Thomasson Road, which provides easy access to Interstates 30 and 635, giving access to all of the Dallas/Fort Worth Metroplex.

Common area amenities at the complex include on-site laundry facilities, on-site management and maintenance, assigned parking, covered parking, a business center, a sparkling swimming pool and convenience to public transportation, among others.

The community offers one- and two-bedroom floor plans ranging from a 506-square foot one-bedroom/one-bath to a spacious 1,020-square foot two-bedroom/two-bath. Within the units themselves amenities include ceiling fans, miniblinds, frost-free refrigerators, dishwashers and garbage disposals, large walk-in closets, extra storage, and washer/dryer connections, among others.

Princeton was constructed in 1967 and renovated in 2006 and sits on 5.92 acres. All apartment buildings are two-story with pitched roofs, concrete slab foundations and brick or stucco with wood lap siding. The property is individually metered and the tenant is responsible for all utilities except for gas, which the property pays.

Detail

• 
  Space Available
  164 Units
• 
  Year Built
  1967