CEDAR CREEK APARTMENTS 501 Green Oaks Ct. Arlington, Texas CEDAR CREEK APARTMENTS. 1980 . YEAR...

LEAD ED NWOKEDI EXECUTIVE DIRECTOR +1 713 331 1731 [email protected] LUCAS TSANG ASSOCIATE BROKER +1 713 331 1815 [email protected] CONTACT THE TEXAS MULTIFAMILY TEAM • Safe and Aﬀordable City to Live: Arlington ranked #1 Best Cities to Raise a Family. •Signiﬁcant Increase in Average Household Income: Projected average household income in 2022 is $103,700+ (1 mile radius), an 18% increase over 2017. • Surrounded by Major Employers: Arlington’s top 5 employers, including Arlington ISD, University of Texas at Arlington, General Motors Arlington Assembly, Texas Health Resources, and Six Flags Over Texas are located near the property. Nearly 150,000 jobs are located within 5 mile radius. • Excellent Value-Add Opportunity: Rent comps with upgrades are currently $158 higher than our subject property. $1.02 AVG MKT RENT/SF 95% OCCUPANCY 196 # UNITS 918 AVG UNIT SF $936 AVG EFF RENT 501 Green Oaks Ct. Arlington, Texas Value-Add Investment Opportunity CEDAR CREEK APARTMENTS 1980 YEAR BUILT AREA INFO 35E 20 20 67 30 30 45 635 820 35E 175 287 287 287 35W 35W Dallas Fort Worth Cleburne Waxahachie Midlothian Arlington Irving Garland DEMOGRAPHICS Source: CW Gallery Radius from Property 1 MILE 3 MILES 5 MILES Population 7,567 73,700 256,351 Avg. Household Income $88,055 $70,471 $66,755 Owner Occupied Units 1,745 12,451 45,855 Renter Occupied Units 1,776 20,045 60,497 SUBMARKET STATISTICS Apartment Class B Total # Projects 35 Total # Units 8,993 Avg Units/Project 257 Avg SF 782 Avg Physical Occupancy 89% Avg Market Rent/SF $1.19 Avg Market Rent/Unit $911 Units Under Construction N/A Total Units Proposed N/A • Arlington is ranked as #4 “Best Cities to Raise a Family”. • Average Home Price (zip code: 76006) is $485,000. The home price is up to $3.5million. • Butler Elementary School is one of the top schools in Arlington Independent School District. The school is located within 1.5 mile radius of the property. • University of Texas at Arlington (5,300 employees) has 58,000+ students. The annual economic impact of the university is $13 billion. • Nearly 150,000 employees work within 5 miles (2017) of the property. • Arlington’s top 5 largest employers, including Arlington ISD (8,200 employees), University of Texas at Arlington (5,300), General Motors Arlington Assembly (4,500), Texas Health Resources (4,100), Six Flags Over Texas (3,800) are located within a 5 mile of the property. • General Motors Assembly Plant has undergone $1.3 billion expansion. General Motors is building Arlington Automotive Logistics Center (a $250 million redevelopment project) and it is estimate to create 850 jobs. It will be complete by 2019. • Great Southwest Industrial Park is the largest North Texas Industrial Park with 82 million SF. Major tenants include Lockheed Martin Missiles and Fire Control. • The Parks Mall (180 stores, 1.5 million SF), AT&T Stadium (home to the National Football League’s Dallas Cowboys), Globe Life Park (home to the Texas Rangers, baseball park), Six Flags Over Texas (a 212- acre theme park), and Six Flags Hurricane Harbor (largest waterpark in North Texas) are located just 3-5 miles away from the property. Dallas Metro Area

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Transcript of CEDAR CREEK APARTMENTS 501 Green Oaks Ct. Arlington, Texas CEDAR CREEK APARTMENTS. 1980 . YEAR...

Page 1: CEDAR CREEK APARTMENTS 501 Green Oaks Ct. Arlington, Texas CEDAR CREEK APARTMENTS. 1980 . YEAR BUILT. AREA INFO. 35E 20 20. 67. 30 30 45 35 635 820 35E. 75 82 82. 175 287 287 380 380

LEADED NWOKEDIEXECUTIVE DIRECTOR+1 713 331 [email protected]

LUCAS TSANGASSOCIATE BROKER+1 713 331 [email protected]

CONTACT THE TEXAS MULTIFAMILY TEAM

• Safe and Affordable City to Live: Arlington ranked #1Best Cities to Raise a Family.

•Significant Increase in Average Household Income:Projected average household income in 2022 is $103,700+ (1 mile radius), an 18% increase over 2017.

• Surrounded by Major Employers: Arlington’s top5 employers, including Arlington ISD, Universityof Texas at Arlington, General Motors ArlingtonAssembly, Texas Health Resources, and Six FlagsOver Texas are located near the property. Nearly150,000 jobs are located within 5 mile radius.

• Excellent Value-Add Opportunity: Rent comps withupgrades are currently $158 higher than our subjectproperty.

$1.02 AVG MKT RENT/SF

95% OCCUPANCY

196 # UNITS

918 AVG UNIT SF

$936 AVG EFF RENT

501 Green Oaks Ct.Arlington, Texas

Value-Add Investment Opportunity

CEDAR CREEK APARTMENTS

1980 YEAR BUILT

AREA INFO

35E

635

820

35E

82 82

175

287

380

287

377

35W

DALLASNORTHTOLLWAY

DallasFortWorth

Cleburne

Sherman

Waxahachie

Midlothian

DentonMcKinney

Arlington

Irving

Garland

DEMOGRAPHICS Source: CW Gallery

Radius from Property1

MILE3

MILES5

MILES

Population 7,567 73,700 256,351

Avg. Household Income $88,055 $70,471 $66,755

Owner Occupied Units 1,745 12,451 45,855

Renter Occupied Units 1,776 20,045 60,497

SUBMARKET STATISTICS

Apartment Class B

Total # Projects 35

Total # Units 8,993

Avg Units/Project 257

Avg SF 782

Avg Physical Occupancy 89%

Avg Market Rent/SF $1.19

Avg Market Rent/Unit $911

Units Under Construction N/A

Total Units Proposed N/A

• Arlington is ranked as #4 “Best Cities to Raise aFamily”.

• Average Home Price (zip code: 76006) is $485,000.The home price is up to $3.5million.

• Butler Elementary School is one of the top schools inArlington Independent School District. The school islocated within 1.5 mile radius of the property.

• University of Texas at Arlington (5,300 employees)has 58,000+ students. The annual economic impactof the university is $13 billion.

• Nearly 150,000 employees work within 5 miles(2017) of the property.

• Arlington’s top 5 largest employers, includingArlington ISD (8,200 employees), University of Texasat Arlington (5,300), General Motors ArlingtonAssembly (4,500), Texas Health Resources (4,100),Six Flags Over Texas (3,800) are located within a 5mile of the property.

• General Motors Assembly Plant has undergone$1.3 billion expansion. General Motors is buildingArlington Automotive Logistics Center (a $250million redevelopment project) and it is estimate tocreate 850 jobs. It will be complete by 2019.

• Great Southwest Industrial Park is the largest NorthTexas Industrial Park with 82 million SF. Majortenants include Lockheed Martin Missiles and FireControl.

• The Parks Mall (180 stores, 1.5 million SF), AT&TStadium (home to the National Football League’sDallas Cowboys), Globe Life Park (home to the TexasRangers, baseball park), Six Flags Over Texas (a 212-acre theme park), and Six Flags Hurricane Harbor(largest waterpark in North Texas) are located just3-5 miles away from the property.

Dallas Metro Area