Living / Multi-housing
Under Contract

Addison Keller Springs

4800 Keller Springs Rd, Addison, TX, 75001-6053, US

Addison Keller Springs_Property for Sale

Gallery

Addison Keller Springs 2_Property for Sale

Asset Description

Jones Lang LaSalle Americas. Inc. or its state-licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Addison Keller Springs (the “Property”), consisting of 353 units located in Addison, Texas.

Attributes

Number of units
353 units
Occupancy
94.00%
Year built
2013
Building area Net
47,546 m²
Land area net
0.03 km² (29,744 m²)
NOI
₫102,910,707,000

Investment Highlights

Value-Add Opportunity

  • 320 units can receive the LivCor “R-LC” upgrade that includes quartz countertops in the kitchen and bath, new subway tile backsplash, upgraded lighting, and smart thermostats
  • 38 units have black appliances
  • Faux wood flooring can be added to 30 units

Opportunity to Increase Rents

  • $176 discount to the competitive set
  • $192 discount to Class “A” product in the submarket
  • 13.5% rent growth in the submarket over the previous 12 months
  • $101 average effective rent increase on most recent lease trade outs

Dominant Neighboring Employment Centers

  • Positioned within the Platinum Corridor with over 25 million SF of office space and more than 104,000 employees
  • Approximately 15 minutes from Legacy West and the greatest concentration of major corporate headquarters in the southern U.S.
  • Just over 10 minutes from the $1.5 billion CityLine that is home to State Farm and Raytheon
  • Other nearby employment centers include the Telecom Corridor, Las Colinas Urban Center, DFW Airport, and Cypress Waters

Distinguished Entertainment Hub

  • Located just over one mile from the Whole Foods anchored Village on the Parkway
  • 1.8 million SF Galleria Dallas is one of the largest tourist attractions in Dallas
  • Other notable shopping and entertainment centers include Prestonwood Town Center, Addison Circle, and The Shops at Willow Bend
  • One mile north of “Restaurant Row” that maintains one of the highest concentrations of restaurants and bars in the DFW metro

Strong Surrounding Demographics

  • $116,000 average household income within a 1-mile radius
  • $510,000 average value of within a 1-mile radius

Excellent Connectivity

  • The Property sits just blocks west of the Dallas North Tollway
  • Located just over three miles from I-635 and President George Bush Turnpike
Addison Keller Springs 4_Property for Sale
Addison Keller Springs 4_Property for Sale

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Last updated
19 Dec 2022