32 Units--Irving Texas NEW EXCLUSIVE LISTING

JP Lumbley & Associates, LLC

Investment Real Estate Brokers

Irving Court Townhomes

32 Unit Apartment Complex in Irving, Texas

As an Early Bird List subscriber, you're seeing this exclusive listing before the general public. It will be posted on Loopnet next week.

$950,000

$29,688/Unit   $34/SF

9.23% CAP RATE

1.86% Debt Coverage Ratio

>17% Cash on Cash Return

Based on Current Financals

301 Rolston

Irving, Texas



CLICK HERE TO DOWNLOAD FINANCIALS



Built 1971

All-electric, separate electric meters

Individual roof-mounted HVAC

Spacious 2-1.5 and 2-2 Units
Ample, well-surfaced parking
Separate management office and shop
Near DART rail
Close to D/FW Airport, jobs, shopping, entertainment
Centrally located between Dallas and Fort Worth

Irving, Texas is ideally located almost exactly in the center of the Dallas/Fort Worth Metroplex. It's convenient to all areas of the Metroplex. It's just a few miles from the DFW Airport, one of the largest airports in the world. There are a significant number of blue- and white-collar jobs in the area, with several trucking company and other transportation-related employers located just a few miles to the south. Dallas, Arlington, and DFW Airport are within a 20-minute drive time from this property.

According to the 2010 U.S. Census, the city population was 216,290. Irving is within the Dallas-Plano-Irving metropolitan division of the Dallas-Fort Worth-Arlington metropolitan area, designated by the U.S. Census Bureau and colloquially referred to as the Dallas-Fort Worth Metroplex.

Irving contains the Las Colinas area, which was one of the first master-planned developments in the United States and once the largest mixed-use development in the Southwest with a land area of more than 12,000 acres (49 km²). Las Colinas includes the Mustangs at Las Colinas, which is the largest equestrian sculpture in the world. A 40-acre (160,000 m²) tract in Las Colinas is home to the Irving Convention Center at Las Colinas, completed in January 2011.

The Dallas Cowboys played at the now-demolishedTexas Stadium in Irving from 1971 to 2008. The city plans to build an extensive mixed-use projectthat spans State Highway 114 on the site. The lead developer is Forest City Enterprises, which is rehabilitating the old Mercantile complex in downtown Dallas into a Rockefeller Center-style mixed-use project.

Part of Dallas/Fort Worth International Airport, which serves the cities of Dallas and Fort Worth, is inside the city limits of Irving.