East Town TY - Invest on Main Street

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Passive Investment Opportunity

East Town Apartments

This is a fantastic 208-unit value-add opportunity in Dallas, TX.

Join our Live Investor Presentation on Wednesday, June 2nd @ 5PM PST

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QRP, Solo 401(k), SD-IRA

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506(c) For Accredited Investors Only

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2.0X Targeted Equity Multiple

Note: This 506(c) syndication is open to ACCREDITED investors only.

Investment Overview

This fantastic value-add opportunity is located in Dallas, TX and consists of 208 units in a top performing submarket.

This property has tremendous upside, as after renovations, the rents can grow up to an additional $178/unit in effective rental income.

If you’re an accredited investor, click the button below to register for our live investor webinar on Wednesday, June 2nd at 5PM Pacific to get all the details about this investment and ask any questions you may have in our live Q&A portion.

Can’t Attend? Register anyway and we will email you once the replay becomes available. But don’t wait too long, our previous deals were over-subscribed just days after the live webinar!

18%

Targeted IRR

10-12%

Projected Annual
Cash-on-Cash

2.0X

Targeted Equity Multiple

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8%

 Preferred Return
 

Take a Tour

Opportunity Summary

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Pandemic Resilience

Landlord Friendly State:

  • Texas is a very pro-landlord state
  • The government is providing significant assistance programs for residents who cannot pay rent.

Resilient Renter Base

  • A & B Class residents with higher education and income are less impacted.
  • We are focusing on ‘grey collar’ residents who typically have fewer collection issues. 

Key Demographics

  • 5-mile radius population is projected to reach 433,249 by 2025
  • Average household income of $108,715
  • 91.09% of households within 1 mile are renter occupied while 57.92% are renter occupied within 5 miles, showing a strong demand rental units in this area.

Investment Highlights

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208-Unit Community Situated in an In-Fill Location: An excellent opportunity to acquire a community with tremendous upside of +/-$178/unit in effective rental income.

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Top Performing Submarket: Over the last 5 years, the Northeast Dallas submarket has recorded an average annual rent growth of 5.9%, ranking second among the Dallas-Plano-Irving MSA.

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Largest Floor Plans: East Town has the largest floor plans within the competitive set, averaging nearly 860 rentable square feet per unit.

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Tremendous Value Add Opportunity: Upon completion of the outlined value add strategy new ownership can capture +/-$178/unit market rate premium and earn a 25% return on capital investment after renovations.

Property Details

The Property

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Year Built: 1972

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Buildings: 15 Total | 13 Residential

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Units: 208

Community Amenities

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Resort-style swimming pool

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Fitness center

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Designer clubhouse

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Onsite laundry facility

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Resident lounge

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Business center with high-speed internet & WiFi

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Large park like trees

Dallas, TX

It is estimated that nearly 400 people move to DFW every single day, and for good reason. The Dallas-Fort Worth region boasts a low cost of living, strong local, regional, and state economies, continual job growth, a pro-business mindset, an absence of corporate and personal income taxes, and, most notably, an extremely high quality of life.

Key Market Stats
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#1 in the county for total job growth -Bureau of Labor Statistics, 2019

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#2 for Corporate Expansions in 2018 – Site Selection Magazine, 2019

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#3 in the nation with 24 Fortune 500 Companies and the only US metro with more than one Fortune 10 Companies (DFW has 3!)

Capital Improvements

Interior

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Addition of upgrades appliance package

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Upgrade flooring across all units

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Resurface or replace faux-granite kitchen and bathroom vanity countertops

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Install new shaker-style cabinet faces

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Upgrade to brushed nickel hardware

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Upgrade lighting and plumbing fixtures

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Addition of washer/dryer connections and appliances in all floor plans

Exterior

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Upgraded landscaping

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Complete pressure washing and paint touch-ups

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Upgraded carport

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Upgraded fencing for curb appeal

Before

After

We Are Multifamily Investment Professionals

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Experienced

With a combined 100+ years of experience and $300MM in closed multifamily transactions, we have the subject matter expertise, key relationships, and proven track record to execute profitable deals.

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Conservative

We are opportunistic investors focused on creating long term value. We stress test our deals and use leverage carefully to create sustainable cash flow and limit our risk.

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Diligent

Closing a deal, while challenging, is the easy part. Executing on the business plan is the hard part. It takes perseverance and persistence to achieve what we set out in our underwriting.

This Deal is Closed


Check out our Current Investment Opportunity.

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