Investment Highlights:
• 12 Class C Multifamily Units in Sachse, Texas
• Value-Added Opportunity Through Deferred Maintenance
• 67 Percent Two-Bedroom Units
• Potential to Pass Through All Water Expenses
• Ability to Place New Debt with Low Interest Rate
• Easy Access to President George Bush Turnpike and Firewheel Town Center
Investment Overview:
Country Living Apartments is a 12-unit, 1973 built, multifamily asset located in Dallas suburb, Sachse, Texas. The property neighbors both single family residences, as well as retail establishments. The apartments are one block from Highway 78, and only 2.5 miles from the Firewheel Town Center, which offers great retail shopping and a plethora of restaurants and entertainment, adjacent to the Firewheel Golf Park.
Sachse, Texas is 20 miles northeast of downtown Dallas Central Business District on Highway 78; three miles north of President George Bush Turnpike (PGBT)/HWY-190, providing easy access to Plano, Richardson, Garland, North Dallas and Central Expressway.
Country Living Apartments consists of 67 percent two-bedroom units; four, one-bedroom units at 595 square feet and eight two-bedroom/one-bath at 792 square feet, with an average of 726 square feet.
The wood frame and stucco property, has a slab foundation, pitched composite roofs, central HVACs, is separately metered for electricity, includes an inviting courtyard for residents to unwind, and an onsite laundry room. Each unit has an individual water heater, high-speed internet capabilities, covered patios for first floor units, and balconies on second floor units. Flooring includes carpet, vinyl, and ceramic tile in select units.
Country Living is currently achieving competitive rental rates in the area for similar asset types. Presently, the out of area owner uses a third-party property management company with onsite staff who receives a modest rent reduction and income. A new investor can elect to operate in this manner, or manage the asset independently.
Utilities have been billed back at 21 percent. With stringent property management practices, an investor can potentially continue to increase the amount of the water expenses that are passed through. An investor can also elect to improve the curb appeal, and also update the unit interiors with new appliances, paint, and hardware.
Country Living Apartments is ideal for investors seeking opportunities within the path of growth and value-add components.
Original acre: 0.596 subtracted 2,597 S.F. to 0.536 acres.
Country Living Apartments - 3100 5th Street, Sachse, Texas 75048
