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Multifamily

The Moderne

2721 Wingate St, Fort Worth, TX 76107

Listing Price: Request For Offer

Number of Units
43
Gross SF
42,159

Investment Overview

The Moderne is a 43-unit, Class A+ asset located along the West 7th Corridor of Fort Worth in the Linwood neighborhood, which is the most walkable and desirable location for affluent young professionals in the city. This vibrant submarket boasts Montgomery Plaza, the Cultural District and an easy 5-minute commute to downtown Fort Worth. From the subject property, a resident can walk to numerous shopping centers, casual and high-end dining options and the epicenter of Fort Worth’s nightlife scene. Situated in the Linwood neighborhood of West 7th, one can also easily commute to Texas Christian University and walk to Linwood Park within a minute or two. The three-story subject property was completed and received COs in January 2021 and was built to state-of-the-art condo specifications incorporating the finest materials and finishes the area has to offer. The building is comprised of stucco and hardie-plank siding exteriors with a flat TPO roof with slab foundation on grade beam piers. The large unit interiors offer residents single-level, bright and open floorplans with 9-foot ceilings and large covered private balconies with storage closets. Interiors also boast gourmet kitchens with quartz islands, gas ranges and stainless-steel appliance packages, quartz countertops, hardwood floors, walk-in closets, oversized walk-in showers, full-size washer/dryer connections and USB charging stations with high-tech wiring. Common area amenities include an elevator, a sparkling swimming pool, dog park, video monitored secured entries, ample parking, inside USPS mailboxes and LuxerOne secure package delivery lockers. Also, The Moderne Room on the 2nd floor is a common area exclusively for residents that can be used for remote work, a coffee/lounge area or for resident parties, functions or meetings. This common area is open, bright and very functional given the amount of remote work options that are now available to young professionals. The Moderne presents a new owner with a rare opportunity to acquire an institutional quality, irreplaceable asset in a class A+ location in a booming market at a cost basis that is approachable for individual investors. The new owners can obtain attractive new financing and begin leasing this move-in ready property with their own staff from day-one of acquisition. Once lease-up is complete, the need for full-time onsite staff will be negligible, if not completely unnecessary. This property differentiates itself from other area competition by offering the highest end, highest tech finish out in the area with a boutique-style living feel. Upon stabilization, the property will provide reliable and consistent cash flow for the owners and should also appreciate substantially as this already dense area continues to develop and add new amenities for area residents. The Moderne is truly a unique and desirable investment opportunity that should remain easy to manage and maintain for many years to come.

Investment Highlights

  • Irreplaceable, State-of-the-Art Class A+ Real Estate in a Class A+ Location in one of the Nation's Fastest Growing Markets
  • 43 Units Fully Completed in 2021 to Top-Notch Condo Specifications in Fort Worth's Most Walkable and Desirable Location for Renters Along West 7th St.
  • "Plug and "Play", Move-In Ready Lease-up Opportunity for New Owners; Ready to Start Leasing Day-One of Ownership
  • Large, Functional 1BR, 1BR with Office, and 2BR Floorplans Averaging Nearly 1,000 Square Feet
  • Interior Finish is Unrivaled in the Submarket; Great Common Area Amenities Package
  • Available Free and Clear of Existing Debt-Attractive New Financing Options on the Table
  • ~4.5% Year-One Cap Rate Upon Lease-up; Outstanding Value Creation Potential
  • Rents Projected are Readily Achievable for New Owners

Exclusively Listed By

Multifamily

The Moderne

Listing Price: Request For Offer

Number of Units
43
Gross SF
42,159

Investment Highlights

  • Irreplaceable, State-of-the-Art Class A+ Real Estate in a Class A+ Location in one of the Nation's Fastest Growing Markets
  • 43 Units Fully Completed in 2021 to Top-Notch Condo Specifications in Fort Worth's Most Walkable and Desirable Location for Renters Along West 7th St.
  • "Plug and "Play", Move-In Ready Lease-up Opportunity for New Owners; Ready to Start Leasing Day-One of Ownership
  • Large, Functional 1BR, 1BR with Office, and 2BR Floorplans Averaging Nearly 1,000 Square Feet
  • Interior Finish is Unrivaled in the Submarket; Great Common Area Amenities Package
  • Available Free and Clear of Existing Debt-Attractive New Financing Options on the Table
  • ~4.5% Year-One Cap Rate Upon Lease-up; Outstanding Value Creation Potential
  • Rents Projected are Readily Achievable for New Owners

Investment Overview

The Moderne is a 43-unit, Class A+ asset located along the West 7th Corridor of Fort Worth in the Linwood neighborhood, which is the most walkable and desirable location for affluent young professionals in the city. This vibrant submarket boasts Montgomery Plaza, the Cultural District and an easy 5-minute commute to downtown Fort Worth. From the subject property, a resident can walk to numerous shopping centers, casual and high-end dining options and the epicenter of Fort Worth’s nightlife scene. Situated in the Linwood neighborhood of West 7th, one can also easily commute to Texas Christian University and walk to Linwood Park within a minute or two. The three-story subject property was completed and received COs in January 2021 and was built to state-of-the-art condo specifications incorporating the finest materials and finishes the area has to offer. The building is comprised of stucco and hardie-plank siding exteriors with a flat TPO roof with slab foundation on grade beam piers. The large unit interiors offer residents single-level, bright and open floorplans with 9-foot ceilings and large covered private balconies with storage closets. Interiors also boast gourmet kitchens with quartz islands, gas ranges and stainless-steel appliance packages, quartz countertops, hardwood floors, walk-in closets, oversized walk-in showers, full-size washer/dryer connections and USB charging stations with high-tech wiring. Common area amenities include an elevator, a sparkling swimming pool, dog park, video monitored secured entries, ample parking, inside USPS mailboxes and LuxerOne secure package delivery lockers. Also, The Moderne Room on the 2nd floor is a common area exclusively for residents that can be used for remote work, a coffee/lounge area or for resident parties, functions or meetings. This common area is open, bright and very functional given the amount of remote work options that are now available to young professionals. The Moderne presents a new owner with a rare opportunity to acquire an institutional quality, irreplaceable asset in a class A+ location in a booming market at a cost basis that is approachable for individual investors. The new owners can obtain attractive new financing and begin leasing this move-in ready property with their own staff from day-one of acquisition. Once lease-up is complete, the need for full-time onsite staff will be negligible, if not completely unnecessary. This property differentiates itself from other area competition by offering the highest end, highest tech finish out in the area with a boutique-style living feel. Upon stabilization, the property will provide reliable and consistent cash flow for the owners and should also appreciate substantially as this already dense area continues to develop and add new amenities for area residents. The Moderne is truly a unique and desirable investment opportunity that should remain easy to manage and maintain for many years to come.

Exclusively Listed By

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