Property Highlights
| There are two addresses representing phases of building, with one title: 201 East 3rd St., Arlington, Texas 111 East 3rd St., Arlington, Texas This property has a 50% student population with 12 month leases. Marketing plans are currently in place for increasing student population. Each of the 54 units is already platted for condo conversion. The buildings have stucco siding and attractive multicolored shingle, pitched roofs. This property has enjoyed consistently high occupancy with minimal concessions. All tenants pay electric directly to utility company and the water is master metered. All units have in-wall AC/Heat combo unit, with 30 new units over the past two years. One third of the units have washer dryers owned by the landlord which is attractive for marketing. All units are 1/1 - 450 sq. ft. lofts with skylights. All units have been renovated with many new appliances, AC' s, most units tiled, and new carpet. The current owner has raised the property from a C to a B class asset. There is an attractive leasing office on site. There is no deferred maintenance. Currently 98% Occuplied. Actual data provided by listing agent. |
Property Description
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