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Multifamily

La Ventana

3711 Dilido Rd, Dallas, TX 75228

Listing Price: Request For Offer

Number of Units
87
Gross SF
77,837

Investment Overview

La Ventana Apartments is an 87-unit community located in Dallas, Texas which is one of the fastest growing metro areas in the country. La Ventana is specifically located in East Dallas, just north of Interstate-30, the main vein of the DFW metroplex, which allows for a 12-minute commute to Downtown Dallas. Additionally, there is quick and easy access to Interstate-635 and Loop 12, with plenty of employment centers, including an Amazon Warehouse within a five-minute commute. Residents enjoy onsite amenities such as a playground, onsite laundry and across the street is Harold Lang Middle School. Recently, the City of Dallas placed a walking bridge over Interstate-30 that now allows for La Ventana’s residents walking access to Wal-Mart, Sam’s Club, seven restaurants, three banks and more retail options. The subject property was built in 1971 and consists of one building with two stories, which is comprised of brick veneer and hardie-board exteriors with pitched composition roofs (replaced 2014) on concrete slab foundations. The property was converted from a two pipe chiller HVAC system, to brand new individual HVACs for each unit in 2016, allowing for a minimal maintenance for the next owner. Current ownership took over in 2013 and has completed over $1.6 million in capital improvements since. The property is in great condition. La Ventana 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 La Ventana’s interiors are well-kept and clean, most neighboring properties have implemented more modern finish outs that leave over $150 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 87-Unit Asset in East Dallas with Day-One Yields and Opportunity for Substantial NOI Growth
  • Quality Asset - Pitched Roofs (Replaced 2014), Individual HVACs (All Replaced in 2016) and Copper Wiring. Quality Product with Over $1.6MM in Capital Improvements Since 2013
  • Value Opportunity – Most Units Updated Over 7 Years Ago. Nearby Comps Command More Than $150 Higher Rents on Similar Floorplans (See Case Study on Page 12 of OM)
  • Eye-Catching Asset North of I-30 in East Dallas, Strong Anticipated Growth with CoStar Forecasting Over 5% 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, 80 Units in Northwest Dallas, In Place, is also Currently On-Market. Please Inquire for More Details

Exclusively Listed By

Multifamily

La Ventana

Listing Price: Request For Offer

Number of Units
87
Gross SF
77,837

Investment Highlights

  • Well Located 87-Unit Asset in East Dallas with Day-One Yields and Opportunity for Substantial NOI Growth
  • Quality Asset - Pitched Roofs (Replaced 2014), Individual HVACs (All Replaced in 2016) and Copper Wiring. Quality Product with Over $1.6MM in Capital Improvements Since 2013
  • Value Opportunity – Most Units Updated Over 7 Years Ago. Nearby Comps Command More Than $150 Higher Rents on Similar Floorplans (See Case Study on Page 12 of OM)
  • Eye-Catching Asset North of I-30 in East Dallas, Strong Anticipated Growth with CoStar Forecasting Over 5% 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, 80 Units in Northwest Dallas, In Place, is also Currently On-Market. Please Inquire for More Details

Investment Overview

La Ventana Apartments is an 87-unit community located in Dallas, Texas which is one of the fastest growing metro areas in the country. La Ventana is specifically located in East Dallas, just north of Interstate-30, the main vein of the DFW metroplex, which allows for a 12-minute commute to Downtown Dallas. Additionally, there is quick and easy access to Interstate-635 and Loop 12, with plenty of employment centers, including an Amazon Warehouse within a five-minute commute. Residents enjoy onsite amenities such as a playground, onsite laundry and across the street is Harold Lang Middle School. Recently, the City of Dallas placed a walking bridge over Interstate-30 that now allows for La Ventana’s residents walking access to Wal-Mart, Sam’s Club, seven restaurants, three banks and more retail options. The subject property was built in 1971 and consists of one building with two stories, which is comprised of brick veneer and hardie-board exteriors with pitched composition roofs (replaced 2014) on concrete slab foundations. The property was converted from a two pipe chiller HVAC system, to brand new individual HVACs for each unit in 2016, allowing for a minimal maintenance for the next owner. Current ownership took over in 2013 and has completed over $1.6 million in capital improvements since. The property is in great condition. La Ventana 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 La Ventana’s interiors are well-kept and clean, most neighboring properties have implemented more modern finish outs that leave over $150 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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