Investment Overview

Trails at Wedgewood and Villa Del Sol presents an enticing opportunity to purchase two properties consisting of 222 individually metered units on Walton Avenue and Westcreek Drive in Southwest Fort Worth. These two properties are less than half a mile apart, offering great economies of scale and accessibility to major thoroughfares, namely McCart Avenue, Altamesa Boulevard, and SW Loop 820. Trails of Wedgewood is located next door to Westcreek Elementary, and both properties are situated less than two miles from an elementary, middle, and two different high schools. Major employment hubs include Harris Hospital, the Chisholm Trail Parkway, and Hulen Mall. As Fort Worth continues to grow in a Southwest fashion, this area is incredibly well positioned for growth and appreciation as Fort Worth, recently surpassing Austin to become Texas’ 4th largest city, continues to expand. Villa Del Sol is the newer of the two properties, built in 1979. This property is made up of 11 buildings which consist of brick and hardie plank siding. Trails at Wedgewood was built in 1969 and is made up of 16 brick buildings. Residents enjoy gated access, on-site laundry facilities, and a swimming pool at their respective properties. Both properties also share favorable features and mechanical systems such as pitched roofs and individual HVACs. Under current ownership these two properties have undergone over $2.5 million in capital expenditures to interiors and exteriors. This includes over $255k in HVAC replacements which should give new ownership peace of mind from a maintenance perspective. These two properties present a rare opportunity to acquire two cash flowing assets consisting of nearly 200,000 rentable square feet between two well-located and well-maintained assets in Fort Worth, one of the nation’s best rental markets. This portfolio offers a combined 7% day-one cash-on-cash return for the investor. That figure does not factor in the possibility of increasing NOI, which can be done through alternate income streams such as Tech packages, bringing laundry in house, streamlining expenses and raising rents, among others. According to our rent surveys and case studies, there is as much as a $200/ month premium being left on the table. Another strong suit of these two complexes is unit mix offer 6 separate floorplans to cater to tenant needs and over 70% of units are either two- or three-bedroom floorplans. Trails at Wedgewood and Villa Del Sol are available free and clear of existing debt, allowing for agency execution.