Loraine Place

Rowan Multifamily Advisors is pleased to announce the exclusive listing of the Loraine Place Apartments in Haltom City, Texas. Haltom City is a suburban city with a population over of more than 45,000 residents located about 6 miles northeast of Downtown Fort Worth. Loraine Place is tucked into a residential neighborhood near the intersection of Haltom Rd. and NE 28th St., and residents benefit from a short 10-minute commute to the heart of Downtown Fort Worth, Sundance Square, and a 20 minute commute to DFW International Airport.

Loraine Place is a boutique 20-unit community constructed in 1970, featuring one- and two-bedroom floorplans averaging 603 square feet. The current owner has infused more than $300,000 into the property recently including addressing deferred maintenance, upgrading the exterior with new paint and landscaping, and renovating 11 units to premium finish out featuring stainless steel appliances and granite countertops. With the exterior largely addressed, a new owner can budget to finish upgrading the remaining 9 “classic” units to further boost income. There is also an opportunity for a new owner to begin charging additional fees for covered parking (10 spaces) that are currently free to residents, potentially up to $50/month.