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Multifamily

Villas at Cantamar

8225 Calmont Ave, Fort Worth, TX 76116

Listing Price: Request For Offer

Number of Units
265
Gross SF
235,350

Investment Overview

The Villas of Cantamar is a 265 unit community located in the highly sought after D/FW investment market. The property lies in West Fort Worth, a mere 10 minutes from Downtown Fort Worth and the Medical District. Additionally, this location near Loop 820 and Interstate 30 offers easy access to retail, dining, large amenities and employers such as Lockheed Martin, Joint Reserve Naval Air Station and Ridgmar Mall. This submarket is also the closest workforce housing to the largest high-end master planned community in Texas, called Walsh Ranch & Veale Ranch, which plans for 80,000+ residents and countless commercial and office developments. More details can be found on page 14 of this memorandum. The subject property was built in 1971 and consists of five large buildings comprised of siding and stucco exteriors with mansard style TPO roofs (replaced 2019) on concrete slab foundations. The property is heated and cooled by two chillers, which were replaced in 2019. Residents of Villas at Cantamar enjoy large floorplans, which are nearly 900 square feet on average. The property also boasts large two and three bedroom floorplans that are all larger than 1,100 square feet, an advantageous size and mix when located next to an elementary school. Amenities include two swimming pools, laundry facilities, playground and sits next door to the LVT Rise community center, which offers recreational and community driven programs for area residents. Villas at Cantamar offers a new owner an opportunity to acquire a large, well maintained, asset in one of the fastest growing submarkets in D/FW with quality yields from day one and proven rental upside. The property has undergone $4,665,000 in capital expenditures since 2019, with a portion of that budget being used to renovate 159 units, leaving an additional 106 units to upgrade. Currently the property has not kept up with growing rent premiums. Nearby properties see $150+ for renovations, but Villas at Cantamar currently has minimal rent difference between renovated and classic units. These 106 units have also not received utility saving updates, meaning a new owner can continue to lower their utility costs by $36,000, per a SWC quote on page 37, while boosting income at the same time. Being an All Bills Paid property, the utility savings flow directly to a new investor’s bottom line. The property is being offered free and clear of existing debt, allowing for a new investor to take advantage of the generationally attractive agency and bridge financing available in today’s marketplace.

Investment Highlights

  • 265-Unit Community in West Fort Worth with Strong Day-One Yields Next Door to an Elementary School
  • Attractive & Well Maintained Asset – $4.7MM ($18,000/unit) in Capital Improvements Since 2019, Including New Roofs, Mechanicals, Parking Lots, & More
  • Proven Renovation Upside – 159 Units Updated & 106 Remain Classic – Nearby Properties Receive $150+ Upgrade Premium
  • Large Units – Average Unit Size Near 900 sqft and Great Mix of 2BR & 3BR Units, All Over 1,100 sqft
  • Located Next Door to Western Hills Elementary and Community Rec Center - Location Offers Easy Access to I-30 and Loop 820 – Less than 10 Minute Commute to Downtown FW
  • Closest Workforce Housing Submarket to New Walsh Ranch & Veale Ranch Developments in West FW with 80,000+ Potential Residents
  • Strong Momentum in Submarket has Created Rental Upside Based on Nearby Comps Undergoing Renovations
  • Available Free & Clear of Existing Debt – Attractive Agency (Sub 3% Interest Rates) & Bridge Options Available

Exclusively Listed By

Financing By

Multifamily

Villas at Cantamar

Listing Price: Request For Offer

Number of Units
265
Gross SF
235,350

Investment Highlights

  • 265-Unit Community in West Fort Worth with Strong Day-One Yields Next Door to an Elementary School
  • Attractive & Well Maintained Asset – $4.7MM ($18,000/unit) in Capital Improvements Since 2019, Including New Roofs, Mechanicals, Parking Lots, & More
  • Proven Renovation Upside – 159 Units Updated & 106 Remain Classic – Nearby Properties Receive $150+ Upgrade Premium
  • Large Units – Average Unit Size Near 900 sqft and Great Mix of 2BR & 3BR Units, All Over 1,100 sqft
  • Located Next Door to Western Hills Elementary and Community Rec Center - Location Offers Easy Access to I-30 and Loop 820 – Less than 10 Minute Commute to Downtown FW
  • Closest Workforce Housing Submarket to New Walsh Ranch & Veale Ranch Developments in West FW with 80,000+ Potential Residents
  • Strong Momentum in Submarket has Created Rental Upside Based on Nearby Comps Undergoing Renovations
  • Available Free & Clear of Existing Debt – Attractive Agency (Sub 3% Interest Rates) & Bridge Options Available

Investment Overview

The Villas of Cantamar is a 265 unit community located in the highly sought after D/FW investment market. The property lies in West Fort Worth, a mere 10 minutes from Downtown Fort Worth and the Medical District. Additionally, this location near Loop 820 and Interstate 30 offers easy access to retail, dining, large amenities and employers such as Lockheed Martin, Joint Reserve Naval Air Station and Ridgmar Mall. This submarket is also the closest workforce housing to the largest high-end master planned community in Texas, called Walsh Ranch & Veale Ranch, which plans for 80,000+ residents and countless commercial and office developments. More details can be found on page 14 of this memorandum. The subject property was built in 1971 and consists of five large buildings comprised of siding and stucco exteriors with mansard style TPO roofs (replaced 2019) on concrete slab foundations. The property is heated and cooled by two chillers, which were replaced in 2019. Residents of Villas at Cantamar enjoy large floorplans, which are nearly 900 square feet on average. The property also boasts large two and three bedroom floorplans that are all larger than 1,100 square feet, an advantageous size and mix when located next to an elementary school. Amenities include two swimming pools, laundry facilities, playground and sits next door to the LVT Rise community center, which offers recreational and community driven programs for area residents. Villas at Cantamar offers a new owner an opportunity to acquire a large, well maintained, asset in one of the fastest growing submarkets in D/FW with quality yields from day one and proven rental upside. The property has undergone $4,665,000 in capital expenditures since 2019, with a portion of that budget being used to renovate 159 units, leaving an additional 106 units to upgrade. Currently the property has not kept up with growing rent premiums. Nearby properties see $150+ for renovations, but Villas at Cantamar currently has minimal rent difference between renovated and classic units. These 106 units have also not received utility saving updates, meaning a new owner can continue to lower their utility costs by $36,000, per a SWC quote on page 37, while boosting income at the same time. Being an All Bills Paid property, the utility savings flow directly to a new investor’s bottom line. The property is being offered free and clear of existing debt, allowing for a new investor to take advantage of the generationally attractive agency and bridge financing available in today’s marketplace.

Exclusively Listed By

Financing By

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