Creek on Calloway

Creek on Calloway

Offering Summary:

  • Location: Richland Hills
  • Year Built: 1979
  • Units: 248

Investment Highlights:

  • 248 units located in Richland Hills, a high-growth submarket in Fort Worth, Texas
  • Current ownership has upgraded most interiors with resurfaced countertops, faux wood flooring, brush nickel fixtures, and a modern lighting package
  • Excellent upside potential remains for the addition of granite countertops, stainless steel appliances, and new cabinet fronts, which could command a $75 premium
  • Attractive in-place debt allows a new investor to acquire a loan at 4.11% interest, which could not be reproduced in today's capital markets
  • Multiple streams of proven-out "Other Income" growth allow for further appreciation during the hold period

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