Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1983
Building Area
Land Area ()
Number of units 260

Property description

Jones Lang LaSalle Americas, Inc. has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in The Belmont (the “Property”), a unique, value-add asset located in Grand Prairie, Texas. Built in 1983, the 260-unit Property is in excellent physical condition as current ownership has invested $1.5 million of capital into the asset since 2019. Strategically positioned along Interstate-30 and SH-161, The Belmont provides convenient access to both Dallas and Fort Worth as well as large area employment centers that include DFW Airport, General Motors Assembly Plant, and the Greta Southwest Industrial Park. In addition, The Belmont is situated near the largest entertainment district in North Texas with venues including AT&T Stadium, Globe Life Park, Six Flags Over Texas, Six Flags Hurricane Harbor, and the recently completed $1.25 billion mixed-use Texas Live! development. Furthermore, effective rents are seeing an average of 22.6% growth on the recent trade out report allowing for significant upside to increase rental rates across the rent roll. With its prime, central location, new ownership is afforded the opportunity to capitalize on the tremendous momentum in the area and value-add opportunity.

Investment highlights

COMMUNITY FEATURES

◊ Resort-style pool with sundeck

◊ High-performance fitness center

◊ Dog park

◊ Outdoor social areas with barbecue grills

◊ Picnic and green spaces

◊ Sports court

◊ Resident clubhouse

Unit Features

◊ Black appliances

◊ Resurfaced countertops

◊ Wood-style flooring*

◊ Faux wood blinds

◊ Vaulted ceilings in top floors

◊ Fireplaces

◊ Contemporary fixtures*

◊ Full-size washer/dryer connections

◊ Washer/dryer sets*

◊ Exterior storage

◊ Private patios and balconies

*In select units

Last Updated Date: 04 Oct 2021
Rob Key
Rob Key
Managing Director, Capital Markets
Broker Licenses
TX-509191
David Austin
David Austin
Senior Director, Capital Markets
Broker Licenses
TX - 625736

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Last Updated Date: 04 Oct 2021

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