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Multifamily

Regency Oaks

2121 Handley Dr, Fort Worth, TX 76112

Listing Price: Request For Offer

Number of Units
100
Gross SF
95,400

Investment Overview

Regency Oaks is a 100 unit apartment community located in Fort Worth, Texas, one of the fastest growing cities in the U.S. The property sits in East Fort Worth, near Loop 820 and Interstate 30, giving residents easy access to retail and employment centers, including less than 15 minutes to both Downtown Fort Worth and AT&T Stadium/Texas Live! in Arlington. The subject property was built in 1967 and consists of three buildings, comprised of brick veneer exteriors with mansard roofs on concrete slab foundations. The property is run All-Bills-Paid but is in fact individually metered for electricity, has individual HVACs and copper wiring. Residents enjoy a strong location in a growing city, as well as onsite laundry, secure access gates, covered parking, and a swimming pool. Regency Oaks is an excellent community for families, boasting an average unit size above 950 square feet and an attractive unit mix with 75 percent of units being two or three bedroom floorplans. A new owner should realize double digit yields day one of ownership on a well maintained property with $1.2 million of capital improvements since 2017. Additionally, multiple nearby competitors are achieving substantially higher rents than Regency Oaks on similar floorplans. Chaparral, less than half of a mile away, is current averaging $160 higher, and Las Mariposas, three quarters of a mile away, is averaging $255 higher. Although the property is individually metered for electric, current ownership began charging a flat fee for electric income on new leases of $30 for one bedroom, $40 for two bedrooms and $50 for three bedrooms. A new owner can continue this program, or consider implementing water RUBS and having tenants pay electric direct to any provider they wish. By making select operational changes, a new owner can reasonably expect to be more competitive with their nearby neighbors with a minimal capital expenditure budget. The property is being offered free & clear of existing debt, allowing for generationally attractive debt options.

Investment Highlights

  • Opportunity to Acquire a 100 Unit Community in D/FW with Double Digit Returns Day-One
  • Immediate Upside - Nearby Properties – Within 1 Mile - are Achieving $150 to $300 Higher Rents than Subject Property for Similar Floorplans
  • Opportunity to Continue & Implement RUBS – Property has Individual HVACs & Meters – Currently Only Charge Flat Fee for Electric. Water/Gas is Paid by Owner
  • Large Floorplans & Attractive Unit Mix– Average Over 950 square feet with Ideal Mix for Families with 76% 2BR and 3BR Floorplans
  • Walking Distance to Newman International Academy and Atwood McDonald Elementary School
  • Offered Free & Clear of Existing Debt – Numerous Agency and Bridge Options Available
  • Well Maintained Asset – $1.2MM in Recent Capital Improvements Since 2017
  • Located in Rapidly Growing Fort Worth Near Retail and Employment Centers. Easy Access to Loop 820 and I-30

Exclusively Listed By

Financing By

Multifamily

Regency Oaks

Listing Price: Request For Offer

Number of Units
100
Gross SF
95,400

Investment Highlights

  • Opportunity to Acquire a 100 Unit Community in D/FW with Double Digit Returns Day-One
  • Immediate Upside - Nearby Properties – Within 1 Mile - are Achieving $150 to $300 Higher Rents than Subject Property for Similar Floorplans
  • Opportunity to Continue & Implement RUBS – Property has Individual HVACs & Meters – Currently Only Charge Flat Fee for Electric. Water/Gas is Paid by Owner
  • Large Floorplans & Attractive Unit Mix– Average Over 950 square feet with Ideal Mix for Families with 76% 2BR and 3BR Floorplans
  • Walking Distance to Newman International Academy and Atwood McDonald Elementary School
  • Offered Free & Clear of Existing Debt – Numerous Agency and Bridge Options Available
  • Well Maintained Asset – $1.2MM in Recent Capital Improvements Since 2017
  • Located in Rapidly Growing Fort Worth Near Retail and Employment Centers. Easy Access to Loop 820 and I-30

Investment Overview

Regency Oaks is a 100 unit apartment community located in Fort Worth, Texas, one of the fastest growing cities in the U.S. The property sits in East Fort Worth, near Loop 820 and Interstate 30, giving residents easy access to retail and employment centers, including less than 15 minutes to both Downtown Fort Worth and AT&T Stadium/Texas Live! in Arlington. The subject property was built in 1967 and consists of three buildings, comprised of brick veneer exteriors with mansard roofs on concrete slab foundations. The property is run All-Bills-Paid but is in fact individually metered for electricity, has individual HVACs and copper wiring. Residents enjoy a strong location in a growing city, as well as onsite laundry, secure access gates, covered parking, and a swimming pool. Regency Oaks is an excellent community for families, boasting an average unit size above 950 square feet and an attractive unit mix with 75 percent of units being two or three bedroom floorplans. A new owner should realize double digit yields day one of ownership on a well maintained property with $1.2 million of capital improvements since 2017. Additionally, multiple nearby competitors are achieving substantially higher rents than Regency Oaks on similar floorplans. Chaparral, less than half of a mile away, is current averaging $160 higher, and Las Mariposas, three quarters of a mile away, is averaging $255 higher. Although the property is individually metered for electric, current ownership began charging a flat fee for electric income on new leases of $30 for one bedroom, $40 for two bedrooms and $50 for three bedrooms. A new owner can continue this program, or consider implementing water RUBS and having tenants pay electric direct to any provider they wish. By making select operational changes, a new owner can reasonably expect to be more competitive with their nearby neighbors with a minimal capital expenditure budget. The property is being offered free & clear of existing debt, allowing for generationally attractive debt options.

Exclusively Listed By

Financing By

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