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Multifamily

In Place

2920 Kendale Dr, Dallas, TX 75220

Listing Price: Request For Offer

Number of Units
80
Gross SF
40,670

Investment Overview

The In Place Apartments is an 80-unit community located in Dallas, Texas, which is one of the fastest growing metro areas in the country. In Place is specifically located near Love Field Airport, a major employment hub for more industries than just the airlines. This location also offers quick access to Northwest Highway, The Dallas North Tollway, Downtown Dallas, Highway-183 and DFW Airport as well, making it an advantageous location for workers and families. Additionally, Amazon has two fulfillment centers within 15 minutes of In Place and the Medical District with UT-Southwestern and Parkland Hospital are within 10 minutes of the property. Residents also enjoy on-site amenities such as a picnic area, on-site laundry and a playground, and also are next door to Overlake Park and have easy access to Bachman Lake Park. The subject property was built in 1973 and consists of three, two-story buildings which are comprised of brick veneer and hardie-board exteriors with pitched composition roofs (replaced 2014) on concrete slab foundations. From a physical standpoint, most individual HVACs have been replaced as well as part of over $1.5 million in capital improvements since current ownership took over in 2013. The property is in great condition. In Place offers a new investor the compelling opportunity to acquire a well located and well maintained asset in white-hot Dallas with operational and rental upside without a major exterior lift. While In Place’s interiors are well-kept and clean, most neighboring properties have implemented more modern finish outs that leave over $100 of rental upside to take advantage of. Please refer to the case study on pages 13-15 of this OM. The property is also eligible for a utility savings program per the analysis of SaveWater Co, a trusted resource, please see their analysis on page 36 of this OM. The property is being offered free & clear of existing debt, allowing a buyer a multitude of strong financing options to best fit their business plan.

Investment Highlights

  • Well Located 80-Unit Asset Near Love Field Airport with Day-One Yields and Opportunity for Substantial NOI Growth
  • Quality Asset - Pitched Roofs (Replaced 2014), Individual HVACs and Copper Wiring. Quality Product with Over $1.5MM in Capital Improvements Since 2013
  • Value Opportunity – Most Units Updated Over 7 Years Ago. Nearby Comps Command More Than $100 Higher Rents on Similar Floorplans (See Case Study on Pages 13-15 of OM)
  • Eye-Catching Asset Near Love Field Airport in North Dallas, Strong Anticipated Growth with CoStar Forecasting Over 7% Rent Growth Over the Next 4 Quarters.
  • Available Free & Clear of Existing Debt – Multiple Attractive Financing Options (See Page 31 of this OM)
  • Opportunity to Drastically Reduce Utility Expenses, See SaveWater Co. Quote on Page 36 of this OM. Property is ABP and Savings Go Directly to Bottom Line
  • Sister Property, 87 Units in East Dallas, La Ventana, is also Currently On-Market. Please Inquire for More Details

Exclusively Listed By

Multifamily

In Place

Listing Price: Request For Offer

Number of Units
80
Gross SF
40,670

Investment Highlights

  • Well Located 80-Unit Asset Near Love Field Airport with Day-One Yields and Opportunity for Substantial NOI Growth
  • Quality Asset - Pitched Roofs (Replaced 2014), Individual HVACs and Copper Wiring. Quality Product with Over $1.5MM in Capital Improvements Since 2013
  • Value Opportunity – Most Units Updated Over 7 Years Ago. Nearby Comps Command More Than $100 Higher Rents on Similar Floorplans (See Case Study on Pages 13-15 of OM)
  • Eye-Catching Asset Near Love Field Airport in North Dallas, Strong Anticipated Growth with CoStar Forecasting Over 7% Rent Growth Over the Next 4 Quarters.
  • Available Free & Clear of Existing Debt – Multiple Attractive Financing Options (See Page 31 of this OM)
  • Opportunity to Drastically Reduce Utility Expenses, See SaveWater Co. Quote on Page 36 of this OM. Property is ABP and Savings Go Directly to Bottom Line
  • Sister Property, 87 Units in East Dallas, La Ventana, is also Currently On-Market. Please Inquire for More Details

Investment Overview

The In Place Apartments is an 80-unit community located in Dallas, Texas, which is one of the fastest growing metro areas in the country. In Place is specifically located near Love Field Airport, a major employment hub for more industries than just the airlines. This location also offers quick access to Northwest Highway, The Dallas North Tollway, Downtown Dallas, Highway-183 and DFW Airport as well, making it an advantageous location for workers and families. Additionally, Amazon has two fulfillment centers within 15 minutes of In Place and the Medical District with UT-Southwestern and Parkland Hospital are within 10 minutes of the property. Residents also enjoy on-site amenities such as a picnic area, on-site laundry and a playground, and also are next door to Overlake Park and have easy access to Bachman Lake Park. The subject property was built in 1973 and consists of three, two-story buildings which are comprised of brick veneer and hardie-board exteriors with pitched composition roofs (replaced 2014) on concrete slab foundations. From a physical standpoint, most individual HVACs have been replaced as well as part of over $1.5 million in capital improvements since current ownership took over in 2013. The property is in great condition. In Place offers a new investor the compelling opportunity to acquire a well located and well maintained asset in white-hot Dallas with operational and rental upside without a major exterior lift. While In Place’s interiors are well-kept and clean, most neighboring properties have implemented more modern finish outs that leave over $100 of rental upside to take advantage of. Please refer to the case study on pages 13-15 of this OM. The property is also eligible for a utility savings program per the analysis of SaveWater Co, a trusted resource, please see their analysis on page 36 of this OM. The property is being offered free & clear of existing debt, allowing a buyer a multitude of strong financing options to best fit their business plan.

Exclusively Listed By

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