lake park villages - loopnet · buildings stories average market rent / unit (proforma) average...

NET LEASED INVESTMENT GROUP

CAPITAL ADVISORS®

❖ $TBD By Market

❖ 25 Duplexes / 50 Units

❖ Assumable HUD Loan

with 39 Years Left

❖ No Loan Assumption Fee

❖ 100% Occupancy

❖ 2017 YOC

❖ Non-Recourse Loan

❖ Great Cash-on-Cash

Investment (Low Down Payment)

LAKE PARK VILLAGES

3050 County Road 427, Tyler, TX 75704


TABLE OF CONTENTS

PAGE 3 Offering Summary

PAGE 4 Property Description

PAGE 5-6 Additional Photos

PAGE 7 Location/Aerial

PAGE 8 Floor Plan

PAGE 9 Site Plan

PAGE 10 Loan Terms/Schedule

PAGE 11-12 Proforma - Income & Expense

PAGE 13 Demographics

PAGE 14 Map

PAGE 15-16 Tyler, TX Information

PAGE 17-18 Agent Bios

PAGE 19 Contact Us

2

Table of Contents


OFFERING SUMMARY

ASSUMABLE HUD LOAN TERMS

Amortization 40 YearsFixed 40 YearsRemaining Term 39 YearsRate 3.95%Assumption Fee NoneYr 2 Annual Debt Service (Plus Insurance) $437,218Principal Balance $8,312,351

3

Offering Summary

Offering Price

Year 1 NOI (Proforma)

Land Area

Terms

No. Units

Square Feet

Average Unit Size

Developed

Buildings

Stories

Average Market Rent / Unit (Proforma)

Average Market Rent / Sqft (Proforma)

Current Occupancy

Market to Determine Value

$552,264

7.60 Acres

Assumption

50

69,800

1,396

2017

25

1

$1,350

$0.97

100%


PROPERTY DESCRIPTION

PROPERTY DESCRIPTION

The CBC Texas Multifamily Group has been exclusively retained to offer for

purchase the Lake Park Villages located at 3050 County Road 427 in Tyler,

Texas. The Lake Park Villages is a 1-story gated duplex community

strategically located in Northwest Tyler, within two (2) miles from Caldwell

Zoo, within two (2) miles from Willow Brook Country Club, and within a ten-

minute drive to the Tyler Pounds Regional Airport. The offering of this 50-

unit asset provides investors with an opportunity to purchase a stabilized,

newly constructed community, in an emerging neighborhood in Tyler. With

no upgrades needed, Lake Park Villages is positioned to effectively compete

with the surrounding properties and remain a long-term, consistently

performing asset.

UNIT MIX and RENTAL RATES

4

Residential Units# Of

Units

Scheduled

Rent per

Unit

Scheduled

Rents per

Month

Sq. Ft. per

Unit

Scheduled

Rent per SFTotal SF

3 Bedroom x 2 Bath x 1 Car Garage 50 $1,350 $67,500 1,396 $0.97 69,800

Totals/Averages 50 $1,350 $67,500 1,396 $0.97 69,800

Property Description

Each unit is individually metered and tenants are responsible for all of their

utilities (electric, water, and gas).

UTILITIES

UNIT FEATURES:

• Modern Vinyl Flooring

• Granite Countertops

• Large Floor Plans

• Walk in Closets

• Full Sized Shower / Bathtub

• Open living space

• Stainless Steel Appliances

• Full Size Pantry

COMMUNITY FEATURES:

• Private Garages

• Gated Community

• Close to Schools and Parks

• Large lawns for recreational use

• Clean landscaping

• Close to multiple large employers

• Near several popular shopping destinations


GREAT LOCATION

LOCATION

“From humble beginnings 150 years ago on a

piece of high ground that is now the Goodman

House town square, Tyler has grown to be the

largest community in East Texas. Boasting an

MSA population of over 225,000, Tyler offers the

cultural diversity, quality education, health care,

and recreational opportunities of a large city with

the hometown friendliness and quality of life of a

small community.” Tyler Chamber of Commerce

Lake Park Village is strategically positioned in

Northwest Tyler located within two (2) miles from

Caldwell Zoo, within two (2) miles from Willow

Brook Country Club, and within a ten-minute drive

to the Tyler Pounds Regional Airport and

downtown Tyler.

The following are a sample of the shopping and

dining options near the property: Walmart,

Whataburger, Dollar General, Long John Silver’s,

Subway, McDonald’s, Chase Bank, Dairy Queen,

Starbucks, Walgreens, IHOP, Popeye’s, and

many more.

Lake Park Village is located less than 15 minutes

from the Tyler medical district. “Serving as the

health care center for East Texas, Tyler is home

to some of medicine's most advanced care. Tyler

has four hospitals including a Level I trauma

center.” Tyler Chamber of Commerce

7

Great Location


Floorplan

8


TEXAS MAP

9

Site Plan


Loan Terms and Schedule

10

LOAN ASSUMPTION HIGHLIGHTS

• HUD Section 221(d)4

• Current Loan Balance of $8,312,351

• Fixed Interest Rate @ 3.95%

• Fully amortizing for 40 years (39 Years Remaining)

• Non-recourse Permanent Loan

• Assumable subject to FHA approval

• No Assumption Fee

• Year 1 Total Debt Service = $437,218

*MORTGAGE INSURANCE PREMIUM

• 0.65% of the outstanding principal balance calculated annually. Reductions in MIP are available for qualified Green/Energy Efficient Housing or affordable restriction on 10% of the units


UNDERWRITING PROFORMA

11

Income & Expenses


UNDERWRITING PROFORMA

12

10-Year Proforma


Demographics

13


TEXAS MAP

14

Texas Map


LUBBOCK INFORMATION

“Smith County was one of the many counties created by the first Texas Legislature in April

of 1846. At that time, an area centrally located in the county and on a hilltop was selected

as the county seat. The county seat was named Tyler for President John Tyler, in

recognition of his support for admitting Texas to the United States. Tyler continued to grow

and prosper throughout the second half of the 20th Century. Today, Tyler has a population

of more than 108,063 and covers 57.16 square miles. The city is considered the

manufacturing, health care, educational and retail center of East Texas. Tyler is a

prosperous and growing city, offering big city amenities, while still maintaining its pleasant

and friendly small-town charm.

Located 90 miles east of Dallas on Interstate Highway 20, the city of Tyler lies within a short

distance of several lakes and surrounding woodlands. Tyler has a variety of museums,

historic homes, a nationally recognized zoo and symphony. The city has 26 parks, 22 area

sporting lakes, 66 tennis courts, 26 baseball fields, 15 soccer fields, and 9 golf courses.

There are more than 250 restaurants, 2,200 hotel rooms and countless shops and antiques

for the serious shopper. Each spring enjoy mile after mile of azaleas, dogwood trees and

spring flowers that you have to see to believe during the annual Azalea and Spring Flower

Trail. The breathtaking beauty of our Azalea and Spring Flower Trail has been praised by

visitors as a floral wonderland and a photographer's paradise. In the fall, Tyler celebrates

the rose with the annual Texas Rose Festival. Rich in heritage and tradition, the Festival

offers enchanting ceremonial events including the Queen’s Coronation, the Rose Show, the

Queen's Tea, the Rose Parade and more. All of these events are amidst a backdrop of

brilliant roses as vibrant and colorful as the community they represent.” -

https://www.cityoftyler.org

15

Tyler, TX


LUBBOCK INFORMATION

“The University of Texas at Tyler (also referred to as UT Tyler) is acoeducational public university located in Tyler, Texas, United States. Founded in 1971,it is a component institution of The University of Texas System. UT Tyler consists offour professional colleges and one traditional college of arts and sciences, offeringover 90 academic degree programs at the bachelor, master, and doctoral levels. TheUniversity of Texas at Tyler is accredited by the Southern Association of Colleges andSchools. The university has a fall 2017 student body enrollment of 10,527, a 20:1student to faculty ratio, and a park-like campus centered on Harvey Lake.”- https://en.wikipedia.org/wiki/University_of_Texas_at_Tyler

Tyler Junior College is a two-year community college in Tyler, Texas, United States. TJCis one of the largest community colleges in Texas, with an enrollment of more than12,000 credit students each year with an additional 20,000 continuing educationenrollments annually. Its West Campus includes continuing education and workforcetraining programs. The College also operates satellite centersin Jacksonville and Lindale. TJC offers Associate in Arts, Associate in Applied Scienceand Associate of Arts in Teaching degrees, as well as tech prep and certificateprograms.- https://en.wikipedia.org/wiki/Tyler_Junior_College

Texas College is an accredited historically black four-year college located in Tyler,Texas that is affiliated with the Christian Methodist Episcopal Church and the UnitedNegro College Fund. On January 9, 1894, Texas College was founded by a group ofministers affiliated with the Christian Methodist Episcopal (CME) Church, apredominantly blackdenomination. Texas College offers bachelors degree programs in art, biology,business administration, computer science, English, education, history, mathematics,music, nursing, physical education, political science, liberal studies, social work andsociology. Also available are Associate of Arts degrees in early childhood education andgeneral studies, as well as an alternative certification teacher education program forpeople with bachelors degrees.”-https://en.wikipedia.org/wiki/Texas_College

16

Local Universities


Taylor Tucker, CCIM

17


Chase Tucker, CCIM

18

LINKS:

www.TexasMultifamilyGroup.com www.Twitter.com/CBCTexasApts www.CBCCapitalAdvisors.com

Texas Multifamily Group

4924 S. Loop 289

Lubbock, TX 79414

806.784.3268

Rick Canup, CCIM

Owner / CEO

Phone: 806.784.3304

Cell: 806.438.8188

[email protected]

Taylor Tucker, CCIM

Director

Phone: 806.784.3260

Cell: 806.319.2602

[email protected]

Chase Tucker, CCIM

Director

Phone: 806.784.3268

Cell: 806.470.4988

[email protected]

Our Team:

CAPITAL ADVISORS®

If you would like more information on the Lake Park

Villages - Please contact us.

LAKE PARK VILLAGES3050 County Road 427, Tyler, TX 75704

http://www.texasmultifamilygroup.com/

http://www.twitter.com/CBCTexasApts

http://www.cbccapitaladvisors.com/

mailto:[email protected]



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