We acquired the South Crest Apartments in May of 2025, a 150-unit apartment community in Dallas, TX for $15,750,000. The property is financed with a 5-year loan fixed at 4.69% interest-only, and we will complete a proven rental upside plan through renovation.
The property comes with significant capital improvements completed by the previous ownership, including the conversion to individual HVAC units from a boiler/chiller system in 2022, new roofs installed in 2023, and a resurfaced parking lot in 2019. While these capital-intensive upgrades do not directly generate additional income or value, they set the stage for us to focus on more strategic upgrades. We plan to enhance the unit interiors and add common-area amenities, which will help drive stronger lease rates.
150 Units
size
$15,750,000
Purchase Price
Target Hold Period: 5 Years
Price per Unit
Target Annual Return: 22% per year
Price per SF
7.17%
Cap Rate on Cost
6.73
GRM on Cost
Achieving Your Vision
Planning for retirement is essential to your long-term financial well-being. At Finovate, our experienced team collaborates with you to identify your retirement goals and crafts a tailored, comprehensive strategy to help you achieve them with confidence.
How Can Our Team Help You to Reach Your Goals
Learning About You
Schedule a 30-minute call with our professional to discuss your goals and how we can help. This phone or Zoom call also outlines who we are and our process.
Organized Meeting
Meet with our team to gather the necessary data for your Financial Plan. We’ll discuss your finances, lifestyle, and goals, including investments, assets, expenses, and income.
Plan Meeting
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Implementation
Your advisor will send a copy of your plan with an actionable list of recommendations. We’ll implement and manage these, keeping you updated.
