Centre Point Lake
FT. WORTH, TX.
Guidance: $103,000,000
State: Texas
City: Ft. Worth
Fee paid by Buyer: 2%
CAP: 3.56%
Assumable Loan: No
Seller Carry: No
Dispo Method: Cash, FInance
Asset Class: Multifamily 100+
Address: 23220 Chagrin Blvd, Cleveland Ohio
Class: A
Build Year: 2010
Stories: 3
Doors: 452 Doors + 42 Acres
Price per Door: $227,876.11
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Opportunity! 452 Units plus bonus 42 Acres for building!
Motivated Seller; management woes have created an investor's opportunity to do a quick turnaround in operational efficiencies. Combined with recent 10% increases in occupancy, a newly placed tax abatement, and a significant reduction in collections/bad debt, everything is in place to be a solid performing asset
New: HFC Tax Abatement | nearly $2M returned to owner annually
Breakdown of Restricted Units per Annual Median Income (AMI) of $110,300
50% Units @ 80% AMI | 40% @ 160%AMI | 10% Unrestricted/market rent
Value-Add Opportunity: 344 units remain in classic condition | Parcel Land approved for addt’l 132 Unit | Potential to add dens for garage units | 158 units with garages have extra storage space that can be converted into a heated den for a $100 premium (Current ownership has completed 12 such conversions)
Variety of offerings
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Handicap Accessible
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Hardwood
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Community Wifi
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Pond View
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Ceiling fan
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Gold Plus Reno
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View
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Tech Package
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On-Site Management
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Pet Park
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Platinum Reno
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Silver Reno
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1st Floor
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2nd Floor
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Additional Storage
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Large Yard
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Laundry In Unit
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Pool view
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3rd Floor
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Courtyard view
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Den / Office - Large
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Granite Countertops Select Units
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Picnic/bbq Area
