The property’s strategic location off Highway 360 and close proximity to I-30, give residents near unmatched access to all points of the DFW Metroplex. Residents are 20 minutes from both Downtown Dallas and Downtown Fort Worth. Additionally, over 125,000 people are employed within a 5-mile radius of the Property (DFW International, University Texas at Arlington, American Airlines HQ, and Texas Health Resources).
The property currently has three finish levels: classic/partial (37% or 91 homes), full (43% or 106 homes), and quartz (20% or 49 homes). So, the opportunity remains to upgrade the remaining 80% of non-quartz units to the quartz level finish-out, and make select, accretive upgrades to the exteriors and amenity spaces. Additional value can be unlocked at the property by installing washer & dryer machines into all the homes.
The Heights was originally known as Legacy Point Townhomes and was built as a 162 platted two-unit townhomes with garages. Additionally, there are 84 traditional multifamily units located in two and three story buildings in the middle of the property. The property has always been operated as a traditional apartment rental complex. However, the platted townhome portion which is 66% of the entire project, meets the definition of the Single Family Rental (SFR) model. Potential amenity enhancements and upgrades include clubhouse remodel, fitness center renovation, installing 30 private backyards, replacing the clubhouse and pool deck, as well as improving the landscaping around the property.