Oaks at Jane Lane - 109 Unit Multifamily - Haltom City, Texas (15 Minutes from Fort Worth)

Asset type: Apartment · Location: Haltom City, Texas

109 Apartment Investment in the Hottest Multifamily Market in the Country! Why we love this deal: Cash flow postive Day 1! Dallas Fort Worth (DFW) is one of the strongest economies in the U.S. DFW was the #1 in job growth and population growth in the country in 2023. Property business plan is a light value add, similar to our very successful Fleetwood Square property exit in Waco. All units have vinyl plank flooring which allows us to do “tenant in place upgrades.” This property was sourced off market and shown only to a handful of select buyers based on our close relationship with broker team. Property is overstaffed with 2 maintenance people as it should only need 1 with ~100 units. Property performance improves shortly after close with 1-1.5 maintenance people at the property. The C Class risk is mitigated by the fact that the property has “great bones” as it has a 3 year old pitched roof and 3 year old boiler. The 2024 Estimated Tract Median Family Income is strong at $62k annually. Property is well located as it is a 15 minute drive (~5mi) from downtown Fort Worth and a 35 minute drive (32mi) from downtown Dallas. 71% of the units are 2 BR and 3 BR reducing the turnover cost of units as these unit types don’t turnover as quickly as 1 BR units. Property Location: The Oaks at Jane Lane is strategically located in Haltom City, TX, within the bustling Dallas/Fort Worth metroplex. This well-maintained property is situated near major employment hubs such as Fort Worth CBD, the Fort Worth Medical District, and Medical City North Hills. It offers convenient access to shopping, dining, and entertainment options, with locations like the North East Mall and Alliance Town Center just minutes away. The property benefits from excellent connectivity, being close to major highways like I-35W and Loop 820, which offer seamless access to the entire metroplex. Property Summary: Built : 1969 Number of Units : 109 Unit Mix : 32 - 1BR / 1BA, 57 - 2BR / 1.5BA, 20 - 3BR / 2BA Style : 2 Story Complex Avg. Unit Size : 869 square feet Average Rent : $840/m as of recent data Physical Occupancy : 90.6% as of recent data Property Address : 3001 Jane Lane, Haltom City, TX 76117