Low Density Multifamily Asset: Grand on Beach is situated on 15 acres at a desirable density of nearly 20 units to the acre, which provides ample common area space relative to comparable competition.
Significant Rental Income Upside: The opportunity exists to add 19 additional pet yards and finish out the remaining units with tech packages to potentially garner premiums of $125 and $30, respectively.
Affordable Relative to the Competition: Older vintage assets nearby are leasing renovated units at a $100 premium relative to the in-place rent roll providing potential upside for the next ownership group.
High-Growth Submarket: Haltom City has experienced 95.1 percent occupancy in the trailing five quarters while achieving 4.7 percent rent growth.
Adjacent to New One-Million Square Foot Business Park: The 820 Exchange recently broke ground and is within one half-mile from The Grand on Beach. The business park could bring 1,200 to 1,500 jobs and is expected to be complete by fall 2020.
Proximity to Major Employment Centers: The asset is located equidistant between the Fort Worth CBD (120,000+ employees) and Alliance Texas (60,000+ employees). Other major employers and employment centers nearby include, HEB, DFW Airport, Lockheed Martin, Mercantile Center, and Fossil Creek.
