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Multifamily

Meadow Ridge

3001 W Normandale St, Fort Worth, TX 76116

Listing Price: Request For Offer

Number of Units
484
Gross SF
390,400

Investment Overview

Meadow Ridge is a 484-unit, individually metered community located in Fort Worth, Texas Meadow Ridge is a 484 unit, individually metered community located in Fort Worth, TX and conveniently located near Interstate 30, Interstate 820, Interstate 20 and Camp Bowie Boulevard. This great location facilitates a 10 minute commute to the Medical District, Lockheed Martin, and Downtown. Fort Worth has enjoyed some of the best job and population growth in the nation and is expected to continue to grow for the foreseeable future, with organic rent growth expected to exceed 5% in 2021. The subject property was built in 1981 and consists of 44 buildings which are comprised of brick veneer and hardie plank siding with wood frames on concrete slab foundations. Tenants enjoy a variety of amenities including two swimming pools, a tennis court and abundant grassy play areas with picnic tables and barbecue grills. All units have washer and dryer connections. Meadow Ridge presents a new owner with an outstanding opportunity to acquire a large, 1980’s vintage asset in one of the nation’s fastest growing and most dynamic markets at an attractive basis and realize solid yield from day-one of ownership and achieve significant rental upside. Several neighboring properties are achieving significantly higher rents through an interior unit upgrade program. With execution of such a strategy at Meadow Ridge, a new owner can create significant value and enjoy great cash flow for years to come.

Investment Highlights

  • Outstanding 484-Unit 1980's Vintage Value-Add Opportunity Located in One of the Nation's Fastest Growing and Most Dynamic Markets
  • Great Rental Upside Through Implementation of a Unit Upgrade Program
  • Great Location with Easy Access to Interstate 30, Loop 820 and Camp Bowie Boulevard
  • No Heavy Lift Required-More Than $4.5MM in Recent Capital Improvements
  • Available Free and Clear of Existing Debt-Historically Attractive Bridge and Agency Financing Options Available
  • Attractive Mix of Floorplans Averaging More Than 800 Square Feet

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
484
Gross SF
390,400

Investment Highlights

  • Outstanding 484-Unit 1980's Vintage Value-Add Opportunity Located in One of the Nation's Fastest Growing and Most Dynamic Markets
  • Great Rental Upside Through Implementation of a Unit Upgrade Program
  • Great Location with Easy Access to Interstate 30, Loop 820 and Camp Bowie Boulevard
  • No Heavy Lift Required-More Than $4.5MM in Recent Capital Improvements
  • Available Free and Clear of Existing Debt-Historically Attractive Bridge and Agency Financing Options Available
  • Attractive Mix of Floorplans Averaging More Than 800 Square Feet

Investment Overview

Meadow Ridge is a 484-unit, individually metered community located in Fort Worth, Texas Meadow Ridge is a 484 unit, individually metered community located in Fort Worth, TX and conveniently located near Interstate 30, Interstate 820, Interstate 20 and Camp Bowie Boulevard. This great location facilitates a 10 minute commute to the Medical District, Lockheed Martin, and Downtown. Fort Worth has enjoyed some of the best job and population growth in the nation and is expected to continue to grow for the foreseeable future, with organic rent growth expected to exceed 5% in 2021. The subject property was built in 1981 and consists of 44 buildings which are comprised of brick veneer and hardie plank siding with wood frames on concrete slab foundations. Tenants enjoy a variety of amenities including two swimming pools, a tennis court and abundant grassy play areas with picnic tables and barbecue grills. All units have washer and dryer connections. Meadow Ridge presents a new owner with an outstanding opportunity to acquire a large, 1980’s vintage asset in one of the nation’s fastest growing and most dynamic markets at an attractive basis and realize solid yield from day-one of ownership and achieve significant rental upside. Several neighboring properties are achieving significantly higher rents through an interior unit upgrade program. With execution of such a strategy at Meadow Ridge, a new owner can create significant value and enjoy great cash flow for years to come.

Exclusively Listed By

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