Investment Highlights:
– 48-Unit Value-Added Opportunity Through Property Management and Unit Upgrades
– Day One 10% Cash-on-Cash Return and Attractive 7% Cap Rate on Actuals
– Ability to Cancel Time Warner Cable Subscription Creating $13,000 Annual Savings
– Potential to Systematically Pass-Through Utility Expenses
– Proximity to Greenville High School and Bowie Elementary School
– Excellent Location and Visibility from Interstate 30
– Near Big Box Retail and Restaurants Such as Majestic 12 Movie Theater, Lowe’s, Home Depot, Academy Sports, Ranchero Viejo Mexican Grill
– Close to Community Greenville Sports Park and Complex
Investment Narrative:
The Gardens at Greenville Apartments is a unique, “All Bills Paid”, 48-unit community built in 1965. The asset is conveniently located and has excellent visibility from Interstate-30 in Greenville, Texas. The City of Greenville is just 35 miles northeast of the Dallas/Fort Worth metropolitan area. Greenville has retail shops, down-home restaurants, an award-winning winery, vibrant public art, and numerous live entertainment venues. The Gardens at Greenville Apartments are nearby Greenville High School and Bowie Elementary School. Immediate area retailers include but are not limited to Greenville Chrysler/Jeep/Dodge, and Nissan of Greenville, the Majestic 12 Movie Theater, Walmart Supercenter, Lowe’s Home Improvement, Home Depot, and Academy Sports. The community Greenville Sports Complex which features playgrounds, fishing access, soccer fields, basketball courts, jogging trails, and batting cages are also near the asset.L3 Aerospace Systems, a publicly traded company, is five miles south from Gardens at Greenville. L3 Aerospace Systems
(Greenville, Texas) is an industry leader in the missionization, modernization, and maintenance of aircraft and ground systems, with more than 65 years of experience in developing complex intelligence, surveillance and reconnaissance systems; command and control systems; and secure communications. Companywide, there are 38,000 employees (2016) and a revenue of $10.511 billion.
The Gardens at Greenville Apartments - 5809 Interstate Highway 30, Greenville, Texas 75402
