Living / Multi-housing

Landing at Mansfield

1701 Towne Crossing Blvd, Mansfield, TX, 76063-3975, US

Landing at Mansfield_Property for Sale

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Landing at Mansfield 2_Property for Sale

Asset description

Value-Add Opportunity

  • 107 “Classic” units or 32% of the Property have white appliances, laminate countertops, and carpet floors in living areas
  • 201 units or 60% of the Property have received a light upgrade that includes stainless steel appliances, faux wood floors, and 2” blinds
  • 28 “Premium” units have stainless steel appliances, new cabinet fronts with pulls as well as quartz counter tops with under-mounted sinks in kitchen and bathrooms, new LED lighting, wood floors, 2” blinds, and USB outlets
  • Washer/dryer sets can be added to 182 units


Attributes

Number of units
336 units
Occupancy
95.00%
Year built
2006
Building area Net
287,616 sf
Land area Net
18.68 acres (813,570 sf)

Investment highlights

Opportunity to Increase Rents

  • $237 discount to the competitive set
  • $190 discount to 2000+ built product in the submarket
  • 9.5% rent growth in the submarket over the previous 12 months
  • 9.9% projected rent growth over the next 12 months

Strong Surrounding Demographics

  • $129,002 average household income within a 3-mile radius
  • $306,182 average value of within a 3-mile radius
  • Population of Mansfield has increased 29% since 2010

Significant Neighboring Demand Drivers

  • Adjacent to Mansfield Towne Crossing, Mansfield Town Center, and Mansfield Pointe Shopping Center
  • Located less than five miles from Methodist Mansfield Medical Center with over 1,400 employees
  • Major employers in the immediate area include Mouser Electronics Corporate Headquarters, Lockheed Martin Missiles & Fire Control, American Airlines Corporate Headquarters, and the Great American Southwest Industrial Park
  • Approximately 20 minutes from the Fort Worth CBD

Premier School District

  • Mansfield Independent School District is ranked top 5% in the state and country
  • Every school that the Property feeds into received an “A” ranking according to Niche.com


Landing at Mansfield 4_Property for Sale
Landing at Mansfield 4_Property for Sale

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Last updated
Dec 2, 2022