THE FALLS AND
OAK VILLAGE

PROPERTY INFORMATION

SUMMARY

BRIEF DESCRIPTION

The Falls & Oak Village is a 408 unit apartment community located in Fort Worth, TX that consists of two phases, the 256-unit The Falls (YOC 1976) and the 152-unit Oak Village (YOC 1980). The two properties are adjacent to one another and run as one property out of one leasing office. The property will be rebranded as one single property after our team acquires the property. The Falls & Oak Village is situated only 10 minutes West of downtown Fort Worth and offers a simple commute to many employers including Lockheed Martin, Joint Reserve Base, Ridgmar Mall and the Walsh Ranch Development. Fort Worth is one of the nation’s fastest growing major cities in the United States.

The property is very well maintained and consists of 46 buildings in total which are comprised of Hardie plank, brick and stucco exteriors with pitched composition roofs on concrete slab foundations. The current owners have invested over $4,000,000 into renovations over the past four years. New siding, exterior paint, new roofs, interior improvements and new common area amenities have been installed and created. The amenities at The Falls and Oak Village exceed expectations as the property comes well equipped with 2 swimming pools, soccer fields, playgrounds, dog parks, grilling areas and onsite laundry facilities. The wide array of amenities are a fantastic draw for new and current tenants at the property.

FEW HIGHLIGHTS

The Falls & Oak Village presents a tremendous opportunity to increase the value through several different proven avenues:

Current rents are currently 7% below what our direct competitors are charging leaving an opportunity to increase rents after minor interior upgrades.
Decreasing loss to lease will bring additional value to the property.
Water and sewer utility costs are currently being billed back to tenants at a lower percent then what is possible and supported in the market. After acquisition our team will begin phasing in rubbing back a larger portion of the water and sewer utility costs to the tenants.
Reserved parking is supported and will be implemented upon takeover. This is a very low cost way to increase the value of the property and boost cashflow. The shear size of the property makes reserved parking very appealing to tenants.
The property presents the ability to install community wide wifi and charge the tenants. This is a proven model in the market and will offer the property additional cashflow.
Through water conservation efforts the properties utility bills will decrease which will not only help decrease expenses but will allow tenants to pay less of their funds toward utilities making the property more appealing to current and future tenants.

REAL ESTATE FOR PORTFOLIO INVESTORS

We are actively looking for interested investors. You may qualify to invest with us as either an accredited or sophisticated investor according to SEC guidelines. Click the “Start Investing” button below to fill out our investor form and find out if you qualify to join our multifamily investment team.