2803 Riverside

2803 Riverside

Offering Summary:

  • Location: Grand Prairie, TX
  • Year Built: 1999
  • Units: 436

Investment Highlights:

  • 436-unit, value-add opportunity in Grand Prairie
  • Low-density, two-story, garden-style asset with 168 direct-access garages
  • 96% occupied and 99% leased with 8.5% net rental income growth over the trailing 12 months
  • Opportunity to continue unit enhancements in 131 units, add washer/dryer¬†in 436 units, and create 120 pet yards
  • There is¬†currently only one property under construction within a five-mile radius, furthering a buyer's ability to organically increase rents
  • Grand Prairie has averaged 95.4% occupancy for the trailing nine quarters, while achieving 4.0% rent growth

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