LEADED NWOKEDIEXECUTIVE DIRECTOR+1 713 331 [email protected]
LUCAS TSANGASSOCIATE BROKER+1 713 331 [email protected]
CONTACT THE TEXAS MULTIFAMILY TEAM
• Safe and Affordable City to Live: Arlington ranked #1Best Cities to Raise a Family.
•Significant Increase in Average Household Income:Projected average household income in 2022 is $103,700+ (1 mile radius), an 18% increase over 2017.
• Surrounded by Major Employers: Arlington’s top5 employers, including Arlington ISD, Universityof Texas at Arlington, General Motors ArlingtonAssembly, Texas Health Resources, and Six FlagsOver Texas are located near the property. Nearly150,000 jobs are located within 5 mile radius.
• Excellent Value-Add Opportunity: Rent comps withupgrades are currently $158 higher than our subjectproperty.
$1.02 AVG MKT RENT/SF
95% OCCUPANCY
196 # UNITS
918 AVG UNIT SF
$936 AVG EFF RENT
501 Green Oaks Ct.Arlington, Texas
Value-Add Investment Opportunity
CEDAR CREEK APARTMENTS
1980 YEAR BUILT
AREA INFO
35E
20
20
67
30
30
45
35
635
820
35E
75
82 82
175
287
287
380
380
287
377
35W
35W
DALLASNORTHTOLLWAY
DallasFortWorth
Cleburne
Sherman
Waxahachie
Midlothian
DentonMcKinney
Arlington
Irving
Garland
DEMOGRAPHICS Source: CW Gallery
Radius from Property1
MILE3
MILES5
MILES
Population 7,567 73,700 256,351
Avg. Household Income $88,055 $70,471 $66,755
Owner Occupied Units 1,745 12,451 45,855
Renter Occupied Units 1,776 20,045 60,497
SUBMARKET STATISTICS
Apartment Class B
Total # Projects 35
Total # Units 8,993
Avg Units/Project 257
Avg SF 782
Avg Physical Occupancy 89%
Avg Market Rent/SF $1.19
Avg Market Rent/Unit $911
Units Under Construction N/A
Total Units Proposed N/A
• Arlington is ranked as #4 “Best Cities to Raise aFamily”.
• Average Home Price (zip code: 76006) is $485,000.The home price is up to $3.5million.
• Butler Elementary School is one of the top schools inArlington Independent School District. The school islocated within 1.5 mile radius of the property.
• University of Texas at Arlington (5,300 employees)has 58,000+ students. The annual economic impactof the university is $13 billion.
• Nearly 150,000 employees work within 5 miles(2017) of the property.
• Arlington’s top 5 largest employers, includingArlington ISD (8,200 employees), University of Texasat Arlington (5,300), General Motors ArlingtonAssembly (4,500), Texas Health Resources (4,100),Six Flags Over Texas (3,800) are located within a 5mile of the property.
• General Motors Assembly Plant has undergone$1.3 billion expansion. General Motors is buildingArlington Automotive Logistics Center (a $250million redevelopment project) and it is estimate tocreate 850 jobs. It will be complete by 2019.
• Great Southwest Industrial Park is the largest NorthTexas Industrial Park with 82 million SF. Majortenants include Lockheed Martin Missiles and FireControl.
• The Parks Mall (180 stores, 1.5 million SF), AT&TStadium (home to the National Football League’sDallas Cowboys), Globe Life Park (home to the TexasRangers, baseball park), Six Flags Over Texas (a 212-acre theme park), and Six Flags Hurricane Harbor(largest waterpark in North Texas) are located just3-5 miles away from the property.
Dallas Metro Area
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