Rowan Multifamily Advisors is pleased to announce the exclusive listing of Colorado Square, One Medlin, and Tristar Apartments in Arlington, Texas. Constructed in the 1970’s and 1980’s, these properties total 81 units well located in the heart of Arlington, in close proximity to The University of Texas Arlington, a major research university with a focus on engineering, business, and nursing, as well as other major attractions of the city that draw scores of visitors each year, contributing significantly to the local economy through tourism-related spending.
These assets offer upside in the opportunity to mark rents to market, as well as provide long term value to a new owner. Fundamentally, the Arlington market is positioned well to transact at a much lower cost than replacement, underscoring the value appreciation of value-add assets in the market. With an increase of infrastructure projects, job creation, and population growth in the area, there exists an avenue to see value creation opportunities year after year of ownership.
Investment Highlights
•Continuously Owned and Managed by the same Group for the Past 15+ Years
•100% Classic Units, Rents are over $300 Below Market Rates
•Upside through Further Implementation of RUBs Program
•Median Household Income of Over $70,000 within One Mile
•Situated Near the University of Texas at Arlington Campus