Arlington Central Apartments 320 E Fourth Street Arlington, TX 76010 Investment summary

Arlington Central Apartments

JLL is proud to present the opportunity to purchase Arlington Central Apartments (the Property) PROPERTY DETAILS in Arlington, . The Property is well maintained student housing located in the heart of the 320 E Fourth Street Address University of Texas at Arlington with immediate access to all campus amenities, in addition to being Arlington, TX 76010 centrally located to the rest of Arlington. Product Type Multi-Family

The Property has been meticulously maintained and is in good condition. The property was Units 16 purchased by the current owner in the early 1990s and was updated in 2015. This gated community with internal courtyard and palm trees provides a unique appeal compared to other apartments in Site Size 26,250 SF (TAD) the University area. Year Built 1983 / 2015

The Property has been fully occupied for many years due in large part to the growing student base at Occupancy 100% the University of Arlington. The Property offers investors the opportunity to increase market rents and RMF-22 Zoning increase value. Overall the area and reliable student need present a tremendous advantage for those (Residential Multi-Family 22) seeking a strong, student-based asset in the -Fort Worth Market. Parking 28 spaces (Covered & Gated)

Joel St. John, CCIM Pat McDowell VICE PRESIDENT MANAGING DIRECTOR +1 817 334 0095 +1 817 334 8106 [email protected] [email protected] Arlington Central Apartments Rent Roll Arlington Central Apartments Rent Roll & Amenities In addition to rental income, there is an on-site laundry room. Coin-operated machines are part of the property and provide additional income. All 2 Bedroom units have washer-dryer connections. One Bedroom units do not have washer-dryer connections. The property has a gated entrance and perimeter fencing for privacy. All parking is covered. Historically, the property has been 100% occupied. Historically, the owner has leased two bedroom units by the unit. However, these units were constructed to be leased by the room. Renting by the room is the current trend in the area. It would also encourage higher rents.

1/1 UNITS 2/2 UNITS

Unit Rent Amount Expiration Unit Rent Amount Expiration

106 $710 Dec-19 101 $1,050 Jul-20

107 $762 Jul-19 104 $1,078 Jul-20

108 $812 Jul-20 105 $787 Jul-19

109 $870 May-19 112 $1,078 Aug-20

205 $707 May-19 201 $972 Jul-19

206 $725 Vacant 204 $970 Jul-19

207 $725 May-20 209 $970 Vacant

208 $756 Jul-20 212 $900 Jul-20

AVG $758 AVG $976

Existing Monthly Rent $13,872 Existing Annual Rent $166,464 Property overview

Site plan Arlington Central Apartments

Zoning map

E 4TH ST

S MARY ST S MARY ST

S MESQUITE ST MESQUITE S S MESQUITE ST MESQUITE S

E MITCHELL ST Apartment Market

The Average occupancy for similar quality properties within a three mile radius of the subject during 2015-2018 was 94.7%. The current occupancy for similar quality apartments within a three mile radius is 94.2%.

Class A Apartment ADDRESS UNIT TYPE $/MO APT SF $/SF/MO

Arlington Commons 425 E Lamar Blvd 1BR/1BA $1,382 730 $1.89 404 Border Apartments 404 E Border St 1BR/1BA $1,359 635 $2.14 LIV+ Arlington 1001 S Center St 1BR/1BA $1,293 559 $2.31

1BR/1BA Average $1,345

Arlington Commons 425 E Lamar Blvd 2BR/2BA $1,900 1152 $1.65 LIV+ Arlington 1001 S Center St 2BR/2BA $1,783 826 $2.16 404 Border Apartments 404 E Border St 2BR/2BA $1,667 987 $1.69

2BR/2BA Average $1,783

Class B Apartment ADDRESS UNIT TYPE $/MO APT SF $/SF/MO

Zen Lofts 805 S Center St 1BR/1BA $801 625 $1.28 Rogers Landing 723 Garden Shadow 1BR/1BA $751 600 $1.25 Summit Plaza Apartments 412 Summit Ave 1BR/1BA $697 700 $1.00

1BR/1BA Average $750

Center Point 900 S Center St 2BR/1.5BA $1,207 1,089 $1.11 Zen Lofts 805 S Center St 2BR/2BA $965 900 $1.07 Stadium West Apartments 812 N Center St 2BR/2BA $920 988 $0.93

2BR/2BA Average $1,031 Demographics Arlington Central Apartments

The area has a strong population of renters, particularly from the students of the University of Texas at Arlington. It is characterized by a mix of white and blue collar jobs, a low median age and high population density around the property.

DEMOGRAPHICS 1 MILE 3 MILES 5 MILE 2019 Total Population 18,121 152,793 296,506 2019 Total Daytime Population 29,407 169,766 334,875 2019 Daytime Population: Workers 19,552 88,031 183,867 2019 Daytime Population: Residents 9,855 81,735 151,008 White Collar Jobs 41.7% 35.3% 36.9% Blue Collar Jobs 45.4% 53.4% 53.8% 2019 Industry: Accommodation/Food Services 12.91% 11.34% 9.35% (%) 2019 Total Households 5,875 53,933 111,141 2019 Average Household Income $44,294 $58,457 $69,234 2019 Median Age 25.6 30.2 32.1 2019 Renter Occupied Housing Units (%) 72.22% 61.60% 58.10% 2019-2024 Population: Annual Growth Rate 0.55% 0.58% 0.74% Location overview Arlington Central Apartments

The Location The UT Arlington area Similar to other submarkets in the Mid-Cities of Dallas-Fort Worth, Arlington has performed well over the past few years. A lack of development early in the cycle, coupled with demand for relatively inexpensive apartments, helped drive vacancies to all- time lows. Rent growth has remained better than the metro average. With vacancies consistently below the metro average and a large renter base from which to draw from, Arlington gives investors an alternative to the more supply-heavy northern Dallas submarkets.

Mixed-use developments like Texas Live! and 101 Center are aiming to increase the desirability of the area, while sports franchises like the , , , Arlington eSports, and Dallas Renegades provide plenty of entertainment for local residents. Two new hotels are being constructed in the area - a Drury Plaza Hotel and Live! By Loews in order to accommodate the increased demand for Arlington’s continually growing districts. New additions to Downtown Arlington along the Division Street corridor and expansions in office space in the Centerport development means additional retail and office available now and in the near future.

The UT Arlington campus itself is over 420 acres and is home to over 34,000 undergrads with a total enrollment of nearly 48,000. In addition to the University sports available at College Park Center, the surrounding College Park District provides campus-adjacent shopping and dining and is a short walk from bars and restaurants along the W Abram St entertainment center and live music at nearby Levitt Pavilion. Location overview

IN ADDITION TO PROXIMITY TO UTA, ARLINGTON CENTRAL APARTMENTS ARE ALSO CENTRALLY LOCATED IN ARLINGTON Arlington Central Apartments

Nearby Amenities

A UTA

B Chick-Fil-A C Starbucks D Starbucks E Starbucks F New York Eats G Taco Bell H Fuzzy's Taco Shop I Twisted Root Burger J Mavericks Bar & Grill K The Grease Monkey L Mellow Mushroom M Flying Fish N Babe's Chicken O Shipley Do-Nuts P Kool Keg Q McDonalds's R Wendy's S Indoor Climbing Center T Meadowbrook Golf Course Arlington Central Apartments

Miles 0 0.05 0.1 0.16 0.21 Property Photos Arlington Central Apartments Transaction Guidelines The offering of Arlington Central Apartments is being marketed exclusively by Jones Lang LaSalle Brokerage, Inc (JLL). The seller will entertain offers for the acquisition of 100% interest in the property. The purchaser will be selected by the seller in its sole and absolute discretion based on a variety of factors including, but not limited to:

• Offer price

• Transaction structure

• Ability to perform and close expeditiously

• Absence of contingencies

• Level of due diligence completed.

The listing brokers request that prospective purchasers initially submit a Letter of Intent to Purchase. All LOIs or offers must be presented in writing through JLL and include:

• Source of purchaser’s equity and debt capital

• The proposed earnest money deposit

• Proposed due diligence period and subsequent closing period

JLL will assist prospective purchasers in arranging property tours and will respond to questions related to information con- tained in this Offering Memorandum.

The property is being offered unpriced. The property will be marketed for a period of time and a call for offers will be made to interested parties. Historical operating expenses are not available.

A fee of 2.5% is available to cooperating brokers. Disclaimer This Confidential Offering Memorandum (“Memorandum”) is fur- general economy, competition and other factors beyond the control nished to prospective purchasers solely to facilitate the purchaser’s of JLL and are, therefore, subject to material variation. Additional consideration of the Property known as the Arlington Central Apart- information and an opportunity to inspect the Property will be made ments (the “Property”). The Memorandum contains proprietary available to qualified prospective purchasers upon request. Each pur- information and was prepared by JLL using information compiled chase offer is to be based strictly and entirely upon the purchaser’s from sources we consider to be reliable. However, the Seller makes no independent investigation, analysis appraisal and evaluation of facts representations or warranties herein and the Property is being sold and circumstances deemed relevant by the purchaser. Neither JLL nor in an “as-is, where-is” condition. By receipt of this Memorandum, you any of their respective directors, officers or affiliates have made any agree that: (a) the Memorandum and its contents are of a confidential representation or warranty, expressed or implied, as to the accuracy nature and that you will hold and treat it in strictest confidence; (b) or completeness of this Memorandum or any of its contents, and no you will not reproduce, transmit or disseminate the information con- legal commitment or obligation shall arise by reason of this Memoran- tained in the Memorandum through any means, or disclose this Mem- dum or its contents. orandum or any of its contents to any other entity without the prior written authorization of JLL nor will you use this Memorandum or any This offering is submitted and received with the understanding that of its contents in any fashion or manner detrimental to the interests of all offers for the acquisition of the herein described Property will be JLL or seller; and (c) upon request you will return the Memorandum conducted through JLL. The sellers and JLL expressly reserve the without retaining any copy or extracting any portion thereof. right, at their sole discretion, to reject any or all expressions of inter- est or offers to purchase the Property and/or terminate discussions This Memorandum does not purport to be all-inclusive or to contain with any entity at any time with or without notice. all the information which prospective purchasers may desire. Certain documents, including leases and other materials, are described here- JLL in in summary form. The summaries are not complete descriptions of 201 Main Street Suite 500 the full agreements. Interested parties are expected to review all such Fort Worth, Texas 76102 documents independently. Financial projections are provided for +1 817 334 8100 reference purposes only and are based on assumptions relating to the Thank you Contact information

ADVISORS

Joel St. John, CCIM Pat McDowell VICE PRESIDENT MANAGING DIRECTOR +1 817 334 0095 +1 817 334 8106 [email protected] [email protected]

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