US - Jacksonville, FL
Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Ivy Urban Living (the “Property”), a 228 unit asset located in Dallas, TX. Ivy Urban Living is unique asset located in an infill location with a strong demographic base and an average household income of $137,020 within a three mile radius. Built in 1988 with nine-foot ceilings, the Property has a distinct unit mix as there are very few similar-sized two and three-bedroom floorplans, creating an attractive price point to other properties in the area. With a $335 discount to the competitive set, the Property provides investors the ability to increase rents through a full scale renovation program and through organic rent growth, as the Intown Dallas submarket has averaged at least 10% rent growth over the past two years. Ivy Urban Living sits on the doorstep of Dallas’ strongest economic drivers and flourishing entertainment districts while offering totally unique floorplans that are unmatched by its rent comparables. New ownership has the ability to capitalize on this strong market with an impactful renovation program to enhance NOI.
*in select units