Rowan Multifamily Advisors is pleased to announce the exclusive listing of Colonial Apartment Homes. Built in 2004, Colonial consists of 17 fourplex buildings, offering one-bedroom/one-bath, two-bedroom/one-bath, and two-bedroom/two-bath units ranging from 750 to 1,250 square feet. The community, located approximately 30 minutes from Fort Worth, provides close proximity to both CBD and outer-loop employers.
The property features functional layouts, washer/dryer connections, covered patios, and updated interior finishes such as granite countertops and stainless steel appliances in select units—positioning it competitively within the workforce housing segment. Its setting offers a blend of suburban livability and accessibility, appealing to renters seeking affordability and space within commuting distance of DFW. Colonial Apartment Homes presents a new investor with the opportunity to execute a value-add program through continued interior renovations, while also benefiting from broader market dynamics.
- Stabilizing Multifamily Fundamentals: Newer supply (~50% post-2020) has largely been absorbed, with rents appearing to have bottomed and positioned for growth.
- Limited Competition: Colonial Apartments is the only market rate property within 5 miles constructed between 1990 and 2018.
- Affordability + Location Advantage: Cleburne offers a lower cost of living with convenient access to major DFW employment hubs, supporting renter demand.
- Major Employment Driver: The Amazon distribution center (June 2026 delivery) is expected to bring 800–1,000 jobs, driving incremental housing demand.
- Proven Value-Add Upside: Ownership has renovated 26 units, achieving a $231 rent premium.
- Positioned Ahead of Growth Cycle: The combination of stabilized fundamentals, job growth, and public investment creates a compelling entry ahead of long-term expansion.