South Crest Apartments

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Rowan Multifamily Advisors is pleased to exclusively present the South Crest Apartments in Dallas, TX. South Crest sits on 7.62 acres and consists of 150, one, two, three and four-bedroom units with an average square footage of 927 square feet per unit. The property is made up of eleven residential buildings, and one leasing office/laundry facility. The property is located 5 miles South of Downtown Dallas, near the I-35E/HWY 67 split, allowing residents easy access to the city and surrounding suburbs. This offering will provide a new investor with a strong cash flowing asset and room for upside in an historically strong submarket. ​

The property sits between I-35 and Hwy 67 just south of where these two highways split. A well recognized landmark would be the Christ for the Nations tower. This small Christian college campus caters to students from around the World and surrounds the subject property. The campus provides insulation from any other apartment complexes and is considered as a great neighbor to have as Southcrest is the only independently owned property in this immediate area.

The current owners have done all of the heavy lifting with regards to Exterior Capital Improvements, leaving plenty of upside in interior improvements.

Spanish Springs

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New $2,000,000 Renovation

Rowan Multifamily Advisors is pleased to exclusively present Spanish Springs Apartments. Spanish Springs is situated on a 10.00 acre site in the town of Balch Springs. Consisting of 48 units, totaling 50,032 square feet, were originally built in 1972 and have just experienced a major renovation to the tune of approximately $2,000,000. The exterior renovations included new roofs, stucco repair, new windows, fence installation and LED exterior lighting. Each unit interior was also renovated with new ceiling fans, new bathtubs, Cabinet fronts, paint, crown molding, vinyl or ceramic flooring, new carpets, washer/dryer hookups, new backsplash and appliances.

The exterior renovations included new roofs, stucco repair, new windows, fence installation and LED exterior lighting.

There is zero deferred maintenance as every stone has been turned during the approximate $40,000 /  unit renovation. A new investor has the opportunity to own a clean, rejuvenated, asset with plenty of room to raise rents in the 100% occupied property.