Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of Adelaide, a 107-unit apartment community located in Terrell, Texas. Ownership has invested approximately $2.27 million in recent capital improvements, including a full roof replacement, conversion from a chiller system to individual HVAC units, interior upgrades, parking lot improvements, and exterior enhancements, significantly reducing near-term capital requirements. New ownership can continue the successful renovation program across the remaining classic units, with the potential to achieve approximately $124 monthly rent premiums while further increasing NOI through a water conservation initiative. Adelaide also benefits from a highly desirable unit mix, with approximately 65% of units consisting of two-, three-, and four-bedroom floor plans that appeal to families and long-term residents. Located in rapidly growing Kaufman County with convenient access to Interstate 20, U.S. Highway 80, major employers, retail amenities, and Dallas-area employment centers, Adelaide offers a compelling value-add investment opportunity supported by strong long-term market fundamentals.