PLEASE DO NOT GO TO MANAGEMENT OFFICE OR DISTURB TENANTS.
Please do not visit site without a previous appointment. Property tours are available through Rockcap and by appointment only. To schedule, please contact Grant Henson at 214-775-9502 or grant.henson@rockcapco.com.
Investment Highlights:
26-unit, two-story, multifamily apartment building in Fort Worth
ñ81% leased with five vacant units
Value add opportunity through lease up of the vacant units
Current rents below market average
Excellent location ñ0.5 miles from I-820, commercial and occupational traffic drivers
Strong 3 mile demographics with 77,774 population and average HH income of $56,639
Investment Overview:
Springbrook Apartments, (the "Property") is a 26 unit, two-story multifamily building located at 6528 Normandy Road in Fort Worth, TX
The Property was built in 1970 and comprised of a single 2-story building on ñ0.48 acres with 14,820 RSF. Springbrook Apartments consists of 26 units all approximately 565 SF in size. The Property is currently ñ80.77% occupied and offers a value-add opportunity to lease currently vacant space and generate additional cash flow. Additionally, most rents are below the m
Additionally, most rents are below the market average and offer another value add opportunity to quickly increase cash flow by increasing rents to market rate.
The Property is well positioned on Normandy Road and about ñ0.3 miles from I-820 which loops around Fort Worth and less than a mile from I-30 which is the primary east-west highway through the city. This prime residential location offers an easy commute to employment in Fort Worth's CBD. The area surrounding the Property is nearly fully developed and provides for a mix of single family properties and commercial developments.
Springbrook Apartments is an opportunity to purchase a 26 unit apartment building in Fort Worth with significant value add opportunity through lease up and market rate increases.
