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2605 Kennedy Ln
Texarkana, TX 75503
Texas Secondary Markets Portfolio · Multifamily Property For Sale
·
104 Units
PROPERTY FACTS
| No. Units | 104 | Building Size | 95,243 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1975/2004 |
| Building Class | B | Parking Ratio | 2.23/1,000 SF |
| Lot Size | 8.68 AC | ||
| Zoning | MF | ||
| No. Units | 104 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 8.68 AC |
| Building Size | 95,243 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2004 |
| Parking Ratio | 2.23/1,000 SF |
| Zoning | MF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Pool
- Tennis Court
- Gated
ABOUT 2605 KENNEDY LN , TEXARKANA, TX 75503
Vanguard Real Estate Advisors is pleased to present the exclusive listing of a 208 Unit Texas Secondary Markets Portfolio (“Portfolio”) consisting of Forest Point and Southside Village located in Texarkana and Brownwood, respectively. These value-add Assets each total 104 units and were built in the mid-1970s. The Portfolio is currently 99% occupied and provides strong in-place cash flow as well as significant upside potential in two highly attractive secondary markets. Texarkana is conveniently located 180 miles northeast of Dallas, roughly halfway between Dallas and Little Rock. Brownwood, located within Brown County, is located 120 miles southwest of Fort Worth . Both Assets are well located within their respective markets near schools, major employers, retail, and primary thoroughfares. Value-Add Potential -Potential to implement a value-add interior/exterior renovation program -Ability to add new community amenities -Potential to bill back and/or streamline certain expenses, the Seller is currently self-managing the Portfolio Distinctive Apartment Communities -Well-maintained garden-style Assets built in the 1970s -Attractive unit mix with large floor plans -Strong historical occupancy Below Market Rents -Immediate upside by increasing rents to market levels -Seller prioritized keeping occupancy high rather than maximizing rents Strong In-Place Returns -99 percent occupied at each -Attractive in-place yield with upside Strategic Locations Within Respective Markets -Forest Point is located within one mile of I-30, Central Mall, Texarkana College, Christus St. Michael Health System, and elementary, middle, and high schools -Southside Village is within two miles of US Hwy 377, Howard Payne University, and elementary, middle, and high schools Financing -The Portfolio is being offered on an All-Cash basis, allowing an investor to place new debt financing at closing -Ownership will consider offers on the Assets individually, but a Portfolio sale is the preference
PROPERTY TAXES
| Parcel Number | 29300002900 | Improvements Assessment | $3,445,600 |
| Land Assessment | $434,400 | Total Assessment | $3,880,000 |
PROPERTY TAXES
