9920 Forest Ln
Dallas, TX 75243
Village Oaks · Multifamily Property For Sale
·
53 Units
INVESTMENT HIGHLIGHTS
- Upgrade Remaining Classic-Style Units to Achieve $100 Monthly Rent Premiums
- Continue to Capture Loss to Lease to Increase Revenue
- Stabilized Asset with Healthy In-Place Cash Flow and Strong Historical Occupancy
- Market Rents below Current Submarket Averages by Over 20%
- Expense Reduction Possible through Water Conservation Program
- Attractive New Financing Available
PROPERTY FACTS
| No. Units | 53 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.51 AC |
| Building Size | 67,914 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1982 |
| Zoning | MF-1(A), Dallas |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Kitchen
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Carpet
- Dining Room
- Family Room
- Freezer
- Patio
- Smoke Free
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Gated
- Maintenance on site
- Online Services
ABOUT 9920 FOREST LN , DALLAS, TX 75243
Roughly 60% of the units have received upgrades and achieve $100 monthly rent premiums Average market rent at Village Oaks Condos is $1.12/SF while similar properties nearby are achieving up to $1.35/SF Presently, loss to lease is higher than average as a percentage of market rent Install kitchen and bathroom aerators and low-flow shower heads to reduce the water expense Rental revenue increased by an astounding 19% between December 2018 and November 2019 Bank financing available with competitive terms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 38 | $912.50 | 701 - 903 |
| 2+2 | 9 | $1,125 | 1,059 - 1,064 |
