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Jun 2, 2016 10:49 EDT

RealSource Equity Services: Jackson Branch Apartments – 222 units were recently upgraded. This property enjoys tremendous curb appeal and visibility in North Dallas, Texas, one of the strongest submarkets for employment and rent growth

iCrowdNewswire - Jun 2, 2016

Jackson Branch Apartments




RealSource was established in 1989 with the central focus of helping investor clients insure their maximum profitability through RealSource’s “Prime-Time Investing” model. The key strategy of this proprietary model is investing in the right geographical location in the…




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RealSource Equity Services


RealSource Equity Services

Salt Lake City, UT


About this Property

Jackson Branch was built in 1971 and its interiors and amenities are outdated. By updating unit interiors, renovating the exteriors and improving the Property’s amenities as shown in the CapEx schedule on pages 15 and 16 of the Executive Summary, rents can be raised an additional 10.5% based on the Property’s current average rents and nearby comparable upgraded properties. This increase is recognized over a 2 to 3 year period as units are upgraded. The interior renovation program includes new black appliances, updated cabinets, blinds, two-tone paint, faux wood flooring, new hardware and fixtures and upgraded countertops. Exterior upgrades include a new outdoor kitchen, landscaping improvements, and additional community amenities. The total capital expenditure budget for the project is just under $4.2 million or $8,230 per unit. See the Executive Summary for complete details.

Key Points

  • Demonstrated Value-Add Strategy: 222 units were recently upgraded. The current owner is receiving a market rent bump of $75 rent for the fully upgraded units. The sponsor is receiving on average a $100 rent bump on similar upgrades for an adjacent property. Completing these upgrades on the remaining 284 units is projected to improve NOI 17.8%.
  • Expense Reduction: RealSource is working with the seller to terminate the Dallas Housing Authority contract currently in place on 110 units. By not waiting until close new ownership may receive sooner the estimated 13.6% NOI improvement.
  • Market:This property enjoys tremendous curb appeal and visibility in North Dallas, Texas, one of the strongest submarkets for employment and rent growth. This market is well known by the sponsor which owns and manages an adjacent 484 value-add multi-family property and a nearby 202 unit complex.
  • Short Hold Period: RealSource projects to hold Jackson Branch for 3 years depending on the market outlook once the value-add upgrades are complete and the rents are stabilized.
  • Attractive Cash Flow: The projected cash flow starts off much stronger than most value-add opportunities. Please see the Executive Summary and other due diligence in the documents folder for complete details and let any member of the RealSource team know if you have any questions, have an interest or need additional information.




Contact Information:

RealSource Equity Services

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