INVESTMENT HIGHLIGHTS
• Rare Affordable Senior Housing Opportunity
• Project Based Section 8
• 130 Units
• Value-Added Opportunity Through Management, Interior Upgrades, and Senior Services
• Zero HUD Usage Requirement and Restrictions
• Ability to Extend Contracts 20 Years
• Roof Replaced in April 2016
• Easy access to Interstate 30, Highway 820, Only minutes to Downtown Fort Worth
• Request For Offers – 60% HAP Contracts
INVESTMENT OVERVIEW
Normandale Place Apartments is a 130-unit, 55 and older senior, affordable housing asset built in 1973 located in Fort Worth, Texas. Seventy-three units (56 percent), of the 130 total units, have two HUD contracts: one contract on 60 units and another contract on 13 efficiencies. The property is located in West Fort Worth near the intersection of Las Vegas Trail and Normandale, with easy access to Interstate 30 and Highway 820, only minutes from the Fort Worth Central Business District.
A new investor can add value through stringent property management practices including increased rents and occupancy, utilization of the excess land, and making capital improvements which would offer seniors additional onsite services. The current management has a very high barrier-of-entry for tenants. Those seeking an attractive Affordable Seniors Housing value asset, in one of the best markets, should strongly consider the Normandale Place Apartments.
Seller to retain mineral rights.
Normandale Place Apartments - 8713 South Normandale Street, Fort Worth, Texas 76116
