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Sanctuary 1518 - 1518 N Carroll Ave, Dallas, TX · PDF file life-sized fairy tales houses made out of pumpkins, this neighborhood has a laid-back atmosphere, along with beautiful green

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Text of Sanctuary 1518 - 1518 N Carroll Ave, Dallas, TX · PDF file life-sized fairy tales houses made...

  • “Unique & contemporary luxury 20 unit townhome

    development in thriv ing East Vi l lage Dallas”

    OFFERING MEMORANDUM

    https://www.youtube.com/watch?v=HLWfqjCAEmw&feature=youtu.be

  • | 2 3 |

    LISTED BY

    DANNY MCQUAID Senior Associate, Multifamily

    +1 (214) 932-1284 [email protected] License No. 673000 (TX)

    KYLE MATTHEWS Chairman & CEO

    +1 (310) 919-5757 [email protected] License No. 9005919 (TX)

    This Offering Memorandum contains select information pertaining to the business and affairs of Sanctuary 1518 at 1518 N Carroll Ave, Dallas, TX(“Property”). It has been prepared by Matthews Retail

    Advisors. This Offering Memorandum may not be all-inclusive or contain all of the information a prospectivepurchaser may desire. The information contained in this Offering Memorandum is confidential and

    furnished solely for the purpose of a review by a prospectivepurchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller

    or Matthews Retail Advisors. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers,

    employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or

    shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own

    due diligence.

    By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

    1. The Offering Memorandum and its contents are confidential;

    2. You will hold it and treat it in the strictest of confidence; and

    3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

    Owner and Matthews Retail Advisors expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any

    person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and

    delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property

    including this Offering Memorandum.A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the

    sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims

    against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action

    relating to this solicitation process or the marketing or sale of the Property.

    This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date

    this Offering Memorandum.

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    04

    08

    1 2

    TABLE OF CONTENTS

    Property Overview

    Area Overview

    Financial Overview

  • | 4 5 |

    0 1 PROPERTY OVERVIEW

    SANCTUARY 1518 D A L L A S , T E X A S

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    THE OPPORTUNITY Matthews Real Estate Investment Services™ is pleased to present the Sanctuary 1518 Townhomes, a 20-Unit Class A Townhome-Style Multifamily asset. Built in 2019, Sanctuary 1518 consists of 20 Units across six buildings, and is ideally located in one of DFW’s most desirable and highest barrier to entry submarket’s, East Village. Qualif ied investors are offered the rare opportunity to acquire a new construction multifamily asset in one of the fastest growing MSA’s in the country.

    PROPERTY DESCRIPTION • Units: 20 – Townhome Style

    • Year Built: 2019

    • Net Rentable SF: 29,706

    • Proximate to Dallas-Fort Worth’s Most Influential and Dynamic Economic Drivers

    • High Barrier to Entry Submarket

    • Exceptional Property Demographics

  • | 6 7 |

    CEILING HEIGHT

    • First Floor: 8.5’

    • Second Floor: 10’

    • Third Floor: Vaulted in Bedrooms

    STAIRS

    • First Floor: Red Oak

    • Second Floor: Carpet

    FLOORS

    • First Floor: Polished Concrete

    • Second Floor: 5” Red Oak Hardwood

    • Third Floor: Carpet

    • Bathrooms: Porcelain Tile

    KITCHEN COUNTERTOPS

    • 2cm Arctic White quartz

    KITCHEN BACKSPLASH

    • 2x8 Subway tile in a stacked pattern

    BATH COUNTERTOPS

    • 2cm Arctic White quartz

    SHOWER DOORS

    • Frameless tempered glass

    CABINETS

    • Drawer Banks on Lower Cabinets for Easier Access to Pots/Pans/etc.

    EXTERIOR PAINT

    • One color exterior acrylic paint

    INTERIOR PAINT

    • Enamel Paint on Walls & Trim

    INTERIOR TRIM

    • MDF base and door trim/MDF Closet shelves

    WINDOWS

    • White vinyl insulated to meet energy code

    LIGHTING

    • pre-wired for ceiling fans, entry pendant & island pendants

    EXTERIOR

    • Brick, stucco and cement f iber board siding

    • Oversized f ront yards fenced and gated (on select units)

    FEATURES

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    LANDSCAPING

    • Fully Landscaped and Irrigated Front Yards

    FOUNDATION

    • Post tension slab on grade; engineered per soils reports

    EXTERIOR DOORS

    • Masonite f iberglass door with light kit

    ROOF

    • 25 Year composition shingle; black

    GARAGE DOOR

    • 16x7 steel door with one Liftmaster opener and two controls with multi button - no return, programmable remotes

    FENCE

    • Cedar Board on Board with Top Cap & 4’ iron Fencing at Yards

    ACCESS CONTROLLED

    • Controlled Access Gates w/ Fob Openers

    COMMUNITY AMENITIES

    • Firepit with Seating Area and Dog Park

    SMART HOME SECURITY SYSTEM

    • Vivint Smart Home technology including: Video doorbell, door sensors, smart thermostats, 7”control panel, keyless entry, 2 automated light switches.

    • Upgradeable to add video connection

    INSULATION

    • R13 f iberglass batt between units with 2 layers of 5/8’’ gyp with acoustical caulk for sound attenuation / R38 Batt of ceilings / R19 batt at exterior walls

    HVAC

    • Carrier 15 Seer dual zoned system with dampers

    ELECTRICAL

    • All wiring on the house side of the meter to be copper and comply with local electrical codes

    HOT WATER

    • Tankless water heater

    • Water and sewer bill back

  • | 8 9 |

    0 2 AREA OVERVIEW

    SANCTUARY 1518 D A L L A S , T E X A S

  • | 8 9 |

    DALLAS-FORT WORTH METROPLEX As the largest metropolitan area in the South and the fourth largest in the U.S., the Dallas-Fort Worth Metroplex is the economic and cultural hub of Texas. Companies are investing in the region, recognizing it as a hub of creativity, ingenuity and high-tech innovation.

    Dallas has become an essential part of growth strategies for companies and is acknowledged as one of the top 10 metropolitan areas in the U.S. for high-tech workers with over 230,000 employed workers across a variety of industries.

    The cities of Dallas and Fort Worth comprise the two largest urban centers of the continuously expanding Metroplex, respectively.

    On the eastern side of the metro area, Dallas is the larger of the two cities with an economy based on business management and operations. The Dallas economy is expected to grow over the next couple of decades making it the perfect time to not only invest in Dallas real estate, but also to relocate. It combines clashing images of the city skyline and cowboy vibes. Yet, the city of Dallas describes itself best with the motto: “Big Things Happen Here.”

    FIFTH LARGEST CITY IN THE U.S. - STAR TELEGRAM ARCHIVES, 2018

    24.9 MILLION ANNUAL VISITORS - VISITDALLAS.COM, 2018

    BEST PLACE FOR BUSINESS AND CAREERS IN TEXAS - FORBES, 2015

    DALLAS, TEXAS Dallas is a city where big ideas meet big opportunity. The city revolves around a bustling downtown area that expands through an assortment of neighborhoods and commercial centers, supported by a network of freeways that exceeds almost any other city.

    It boasts the largest urban arts district in the nation; where you’d be more likely to come across a world-class exhibit than a broken pair of chaps. Its past and present is rich in culture, an All-American city that was built on legends. The central core of Dallas has experienced a

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