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5925 Callaston Ln
Fort Worth, TX 76112
Luna Vista · Multifamily Property For Sale
·
236 Units
PROPERTY FACTS
| No. Units | 236 | Lot Size | 9.98 AC |
| Property Type | Multifamily | Building Size | 197,881 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1979 |
| Building Class | C | Parking Ratio | 2.48/1,000 SF |
| Zoning | C, Fort Worth - Multi-Family | ||
| No. Units | 236 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 9.98 AC |
| Building Size | 197,881 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.48/1,000 SF |
| Zoning | C, Fort Worth - Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Courtyard
- Fenced Lot
- Laundry Facilities
- Playground
- Property Manager on Site
- Gated
- Cabana
- Grill
ABOUT 5925 CALLASTON LN , FORT WORTH, TX 76112
The Multifamily Group is pleased to announce the exclusive listing of Manzana Grove, a 92% occupied community in Fort Worth, Texas, which has exceptional visibility and ingress/egress along Interstate 30 (14,588 vehicles per day). Manzana Grove has energy efficient double pane windows, w/d hookups, pitched roofs and private patios/balconies. All units, with the exception of the 500 square foot units, have fireplaces and washer/dryer connections. Recent unit turns have received vinyl plank flooring but comparable properties nearby are achieving significantly higher rents with additional upgrades. Competing properties are upgrading kitchen appliances, cabinets, counter-tops, lighting and adding a back-splash. Manzana Grove presents an opportunity for a new owner to increase rents with interior renovations while benefiting from the organic rent growth of the Dallas/Fort Worth Metroplex, the top apartment market in the country. Renovated units nearby average $1.11 per square foot or $876 per unit. Manzana Grove's average rent is $.92 per square foot or $729 per unit. The weighted variance is $.20 per square foot or $147 per unit. See pages 22-25 for more detail. The location is just North of the Interstate 30 interchange which provides residents convenient access to the Fort Worth central business district and the Arlington entertainment district. Manzana Grove is 10 minutes east of downtown Fort Worth, 25 minutes West of downtown Dallas and 25 minutes from DFW International Airport. Due to the support of the Fort Worth Central Business District, Medical District, nearby Universities and retail, Manzana Grove is 92% occupied. Prospective investors can step into stable cash-flow with significant upside.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 31 | $657.50 | 500 - 740 |
| 1+1 | 113 | $726.00 | 842 |
| 2+1 | 32 | $818.00 | 842 |
| 2+2 | 60 | $929.00 | 842 - 1,166 |
PROPERTY TAXES
| Parcel Number | 00535117 | Improvements Assessment | $22,778,448 |
| Land Assessment | $1,521,552 | Total Assessment | $24,300,000 |
PROPERTY TAXES
