Heatherstone (Under Agreement)

Heatherstone presents an excellent opportunity to reposition a 152-unit garden-style multifamily property in the affluent north Dallas, Texas neighborhood - offered exclusively by Moran & Company. Investment Highlights
Offered significantly below replacement cost, Heatherstone, completed in 1986, was developed with unusually high product quality - all 9' ceilings, 100% washer-dryer connections, and Fairfield Residential floor plans. The opportunity to reach outstanding investment returns requires curing of deferred maintenance at Heatherstone to bring operating performance in line with neighboring communities that have recently completed capital renovation campaigns. There may be the opportunity to assume the existing debt for qualified investors. Lower Taxes and Better Schools - Heatherstone is located in the Carrollton-Farmers Branch ISD and pays lower Denton County tax rates. Affluent Neighborhood - The average household income in the surrounding 3-mile radius of Heatherstone is $89,270. The median owner occupied housing value in the surrounding 3 miles is $176,260.