melrose duplexes - loopnet · 2019. 8. 2. · 2011.with thegeorge masonuniversity arlington campus...

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MELROSEDUPLEXES1900 MELROSE ST ARLINGTON, TX 76010

Steve Fithian, CCIM, CPM, SECManaging Director [email protected] #0407418

OFFERING MEMORANDUMMELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010

OFFERING MEMORANDUM

36

39

PROPERTY INFORMATION 3

Property Summary Complete Highlights Location Highlights Investment Highlights Additional Photos Additional Photos

LOCATION MAPS

8

Regional Map Location Maps Aerial Map Location Overview

FINANCIAL ANALYSIS 17Rent Roll Financial Summary Income & ExpensesSite Survey Floor Plans

MULTI-FAMILY SALE COMPARABLES 25Sale CompsSale Comps Summary Sale Comps Map

31

MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010

DUPLEXE SALE COMPARABLESSale Comps Summary

Sale Comps Map

DEMOGRAPHICS

Demographics Report Demographics Map

ADVISOR BIO

Advisor Bio Back Page

MELROSE DUPLEXES1900 MELROSE ST ARLINGTON, TX 76010

LOCATION HIGHTLIGHTS

12

INVESTMENT OPPORTUNITY

$6,000,000

70

6.34%

1960

47,320 SF

Residential Medium Density 12 (RM-12)

OFFERING SUMMARY

Sale Price:

Number Of Units:

Cap Rate:

Year Built:

Building Size:

Zoning:

Price / SF: $126.80

MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010 SVN | Trinity Advisors |

PROPERTY OVERVIEW

Melrose Duplexes consists of 35 duplexes (70 units) on

two streets in the heart of the DFW Metroplex. Each

duplex consists of two units - each unit has 2 bedrooms, 1

bath, and is 676 sq. feet. All duplexes have brick exteriors and

are individually metered for electricity, water, and gas.

Located less than 15 miles from DFW International Airport

and less than 2.5 miles from AT&T Stadium (Dallas Cowboys)

and Globe Life Park (Texas Rangers).

MELROSE DUPLEXES1900 MELROSE ST ARLINGTON, TX 76010

SALE HIGHLIGHTS

SALE HIGHLIGHTS


Complete HighlightsMelrose Duplexes

• Opportunity to own 35 duplexes on two contiguous streets.

• Located in Arlington, Texas - the 3rd most populated city in the metroplex,and the 7th most populous city in TX with over 350,000 residents.

• Value add opportunity - proven ability to significantly increase rent withcentral HVAC update (8 units currently completed) and washer/dryer leases.

• Recent property wide capital improvements include interior upgrades,exterior painting of all 35 duplexes, stained fencing between duplexes, capand trim stained fencing along the property entrance, and landscaping.Roofs replaced on 26 of 35 duplexes in 2015.

• Units are separately metered for gas, electricity and water.

• Unique exit strategy - each duplex is platted separately giving a buyer theability to sell duplexes individually in the future.

• Less than 3 miles to the General Motors Plant, Texas Rangers, DallasCowboys, and the University of Texas at Arlington.

• Nearby (less than 1.5 miles) General Motors Arlington Assembly employsroughly 4,500 workers and produces approximately 1,200 cars each day.

• 15 miles to the North is Dallas/Fort Worth International Airport which ranks4th globally for operations and supports over 225,000 full time jobs.

• 2 miles to the West is the University of Texas at Arlington - the largestuniversity in North Texas and fourth-largest in the state with over 40,000enrolled students.

• Duplexes are 0.3 miles from Berry Elementary school.

• New York Avenue recently updated with a $12 million program that replacedutilities, rebuilt the road bed, and replaced the pavement and sidewalks.

• Viewing opportunities will include two open houses. Please contact thelisting broker for additional information regarding the specific days/times.

• Current property management company willing to continue management.Please contact the listing broker if you would like a copy of this proposal.

MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010 SVN | Trinity Advisors | The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

Investment HighlightsMelrose Duplexes

OPPORTUNITIES IN ARLINGTON, TX

Arlington’s superior schools are augmented by over a dozen colleges and universities, including three major university expansions which occurred in 2011. With the George Mason University Arlington Campus (Fairfax Dr. at N. Kenmore St.), Virginia Tech Research Center – Arlington (900 N. Glebe Rd.), and George Washington University (950 N. Glebe Rd.) campuses now open, students can enjoy a seamless curriculum in a half-dozen technology clusters as they move from kindergarten through doctoral studies.SURROUNDING RETAIL & FOOD CORRIDOR:

Nearby Big-Box Retailers include: Walmart, Ulta Beauty, Bed Bath & Beyond, Macy's, JCPenny, Kohl's, Kroger, Target, Office Depot, Petco, and Home Depot.Nearby Convenience Stores include: Chase Bank, Wells Fargo, CareNow Urgent Care, CVS Pharmacy, O’Reilly Auto Parts, AT&T and more.Nearby Food Retailers include: Babe's Chicken, The Grease Monkey, Vina Restaurant, New York Eats, Flying Fish, Mellow Mushroom, Pie Five Pizza, Shipley Do-Nuts, Sugar Bee Sweets, Fuzzy Taco Shop, Starbucks, Panda Express, Chick-fil-A, Wendy’s, Pizza Hut, Sonic, Dunkin’ Donuts, McDonalds and Taco Bell.TARRANT COUNTY ECONOMY

As strong as the Texas economy has been, Tarrant County has performed even stronger. Note from the data at the top of the narrative that Tarrant County has averaged population gains of 3.8% per year over forty years compared to Texas at 3.1%, and 1.3% for the United States during the same period. The latest unemployment data for Tarrant County is from March 2019 at 3.5%. The current unemployment rate for Tarrant has seen the job market increase by 2.7% over the last year. Future job growth over the next ten years is predicted to be 40.0%, which is higher than the US average of 33.5%. The Median household income of a Tarrant County resident is $74,189 a year. The US average is $70,850 a year


Additional PhotosMelrose Duplexes

2 LOCATIONINFORMATION

1900 Melrose StArlington, TX 76010


The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.


LOCATION

Located centrally between Dallas and Fort Worth, Arlington is the 3rd most populated city in the metroplex, and the 7th most populous city in TX with over 350,000 residents. The city is strategically situated within the center of the DFW Metroplex located approximately 15 miles (24 km) east of downtown Fort Worth and 20 miles (32 km) west of downtown Dallas. Arlington is approximately 15 miles to the South of Dallas/Fort Worth International Airport, which ranks 4th globally for operations, 15th in terms of total passengers, and supports over 225,000 full time jobs. Arlington owns and operates the Arlington Municipal Airport, which is a public use airport currently used for general aviation services and serves as a reliever airport for DFW International and Dallas Love Field Airports.

Arlington has a large, well-educated and diverse workforce. Over 50 percent of the city’s population is between the ages of 18 and 44. Arlington is home to the University of Texas at Arlington, Tarrant County College Southeast Campus, Arlington Baptist College and campuses of Everest College, Kaplan College, and Concorde Career College. On the UT Arlington Campus, you will find the Workforce Development Center, which provides a variety of human resource and workforce development assistance. Arlington’s partnership with Workforce Solutions for Tarrant County extends opportunities for customized training, human resource needs, special programs, labor market information, rapid response, recruitment and pre-screening, placement services, and more. These services can be offered to help enhance existing labor force skills to meet labor demands/needs of any project or new company at little or no cost to the company.

Arlington’s quality of life is second to none, with a low cost of living, affordable housing, 4,600 acres of parkland, and entertainment venues for everyone attracting over 14.5 million visitors in 2017.

HIGHLIGHTS

Location OverviewMelrose Duplexes


MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

SVN | Trinity Advisors |

Location HighlightsMelrose Duplexes


Location HighlightsMelrose Duplexes

2 LOCATION MAPS



Melrose Duplexes



Regional MapMelrose Duplexes

MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

Location Maps


Melrose Duplexes

Melrose Duplexes



Aerial MapMelrose Duplexes



Location OverviewMelrose Duplexes

1900 MELROSE ST ARLINGTON, TX 76010

3 FINANCIALANALYSIS



UNITNUMBER

UNITSIZE (SF)

LEASEEND

LEASESTART

CURRENTRENT

CURRENTRENT (PER SF)

MARKETRENT

MARKETRENT (PER SF) COMMENTS

1901 Leacrest 676 10/31/2019 Current $955 $1.41 $955 $1.41




1909 Leacrest 676 Current $845 $1.25 $845 $1.25















Rent RollMelrose Duplexes

7/31/2020


UNITNUMBER

UNITSIZE (SF)

LEASEEND

LEASESTART

CURRENTRENT


MARKETRENT















1900 Melrose 676 OFFICE Current $945 $1.40 $945 $1.40

1902 Melrose 676 6/30/2020 Current $945 $1.40 $945 $1.40

1904 Melrose 676 2/29/2020 Current $900 $1.33 $945 $1.40

1906 Melrose 676 2/29/20/20 Current $905 $1.34 $945 $1.40

1908 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1910 Melrose 676 Current $845 $1.25 $845 $1.25

1912 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25


7/31/2020


UNITNUMBER

UNITSIZE (SF)

LEASEEND

LEASESTART

CURRENTRENT


MARKETRENT


1914 Melrose 676 8/31/2019 Current $825 $1.22 $845 $1.25

1916 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1918 Melrose 676 10/31/2019 Current $825 $1.22 $845 $1.25

1920 Melrose 676 12/31/2019 Current $825 $1.22 $845 $1.25

1922 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1924 Melrose 676 VACANT Current $845 $1.25 $845 $1.25

1926 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1928 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1930 Melrose 676 1/31/2020 Current $825 $1.22 $845 $1.25

1932 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1934 Melrose 676 9/30/2019 Current $800 $1.18 $845 $1.25

1901 Melrose 676 8/31/2019 Current $875 $1.29 $845 $1.25

1903 Melrose 676 2/29/2020 Current $800 $1.18 $845 $1.25

1905 Melrose 676 3/31/2020 Current $800 $1.18 $845 $1.25

1907 Melrose 676 9/30/2019 Current $825 $1.22 $845 $1.25

1909 Melrose 676 2/29/2020 Current $825 $1.22 $845 $1.25

1911 Melrose 676 3/31/2020 Current $825 $1.22 $845 $1.25

1913 Melrose 676 2/29/2020 Current $825 $1.22 $845 $1.25

1915 Melrose 676 4/30/2018 Current $950 $1.41 $845 $1.25

1917 Melrose 676 10/31/2019 Current $825 $1.22 $845 $1.25

1919 Melrose 676 5/31/2020 Current $825 $1.22 $845 $1.25

1921 Melrose 676 9/30/2019 Current $825 $1.22 $845 $1.25

Units are currently vacant but are currently being marketed at market rates. Multiple applications are being processed at this time for multiple units.



UNITNUMBER

UNITSIZE (SF)

LEASEEND

LEASESTART

CURRENTRENT


MARKETRENT


1923 Melrose 676 Current $845 $1.25 $845 $1.25

1925 Melrose 676 Current $845 $1.25 $845 $1.25

1927 Melrose 676 7/31/2019 Current $775 $1.15 $845 $1.25

1929 Melrose 676 6/30/2019 Current $925 $1.37 $845 $1.25

1931 Melrose 676 5/31/2019 Current $825 $1.22 $845 $1.25

1933 Melrose 676 5/31/2020 Current $825 $1.22 $845 $1.25

1935 Melrose 676 6/30/2020 Current $840 $1.24 $845 $1.25

1937 Melrose 676 Current $945 $1.40 $945 $1.40

1939 Melrose 676 6/30/2020 Current $845 $1.25 $845 $1.25

Totals/Averages 47,320 $58,925 $1.25 $59,915 $1.27


7/31/2020

7/31/2020

7/31/2020

1 3Trailing 12

June 2018-June 2019

2Proforma

Current Rent RollProforma

HVAC & Washer/Dryer

Rent Roll/Month Rent Roll/Month($ 58,925) ($ 66,150)

IncomeGross Scheduled Income ($ - ) ($ 707,100) ($ 793,800)Rental ($ 559,072) ($ - ) ($ - )Less Vacancy ($ - ) ($ (41,012) ($ (46,040)Net Rental Income ($ 559,072) ($ 666,088) ($ 747,760)

Laundry Income ($ - ) ($ - ) ($ 35,323)Recapture ($ 2,773) ($ 2,773) ($ 2,773)Misc. (late fees, pet rent, etc.) ($ 42,660) ($ 42,660) ($ 42,660)Effective Income ($ 604,505) ($ 711,521) ($ 828,516)

ExpensesAdvertising and Promotion ($ 5,558) ($ 5,558) ($ 5,558)Leasing Fees ($ 6,262) ($ 6,262) ($ 6,262)Contract Services ($ 27,931) ($ 27,931) ($ 27,931)Unit Preparation ($ 28,472) ($ 28,472) ($ 28,472)General Maintenence ($ 8,538) ($ 8,538) ($ 8,538)General and Admin ($ 2,717) ($ 2,717) ($ 2,717)Property Management ($ 26,806) ($ 42,691) ($ 49,711)Property Taxes ($ 49,806) ($ 54,695) ($ 54,695)Insurance ($ 17,732) ($ 17,732) ($ 17,732)Utilities ($ 15,626) ($ 15,626) ($ 15,626)Contract Labor ($ 75,876) ($ 75,876) ($ 75,876)Payroll ($ 44,807) ($ 44,807) ($ 44,807)Total ($ 310,130) ($ 330,904) ($ 337,924)

1) This breakdown diplays property performance based on a trailing 12 month financial statement from June 2018-June 2019.

2) This breakdown diplays property performance at market rate vacancy of 5.8% with historical expenses and a 6% management fee. This includes current rents and assumes current vacancies are rented at market rates. High level make readies have been completed on a majority of these units. Multiple applications have been submitted and units are being filled as applications are approved.

3) This breakdown diplays property performance at market rate vacancy of 5.8% with units leased at market rates. Assumes all units have been converted to HVAC and that all tenants are utilizing washer/dryer leasing.

Net Operating Income ($ 294,375) ($ 380,617) ($ 490,592)

Assumed Sales Price ($ 6,000,000) ($ 6,000,000) ($ 6,000,000)Cap Rate 4.91% 6.34% 8.18%Rent Ratio 0.78% 0.93% 1.04%Rent Ratio (including other income) 0.84% 0.99% 1.15%Price Per Unit ($ 85,714) ($ 85,714) ($ 85,714)Price Per Duplex ($ 171,429) ($ 171,429) ($ 171,429)Price Per Square Foot ($ 126.80) ($ 126.80) ($ 126.80)

Income & ExpensesMelrose Duplexes

MELROSE DUPLEXES | 1900 MELROSE SMELROSE DUPLEXES | 1900 MELROSE ST ARLINGT ARLINGTTON, TX 7ON, TX 760106010The inThe infformation prormation presenesentted hered here is deemed te is deemed to be aco be accurcuratate, but it has noe, but it has not been independent been independently vtly verified. Werified. We make make no guare no guarananttee, wee, warrarrananty or rty or reprepresenesenttation. It is yation. It is your rour responsibility tesponsibility to independeno independently ctly cononfirm acfirm accurcuracacy and cy and compleompletteness. All Seness. All SVN® oVN® officffices ares are independene independently otly owned and operwned and operatated.ed.


Thcundemgncdhave/has=ivedandrevi.cwcd 11.copyofthissurvcy.

SEWELL TITLE

COMPANY 4541BellaireDr.,Ste.103

F��ir

• Bearingsshownhereonare basedonrecordplat ofMeadowbrookParkAddition,as recorded in Volume 388-P, Page 64, P.R.T.C.T.

• EasementsrccordedundcrlnstrumentNo.D215151234andD215151235 affectthe subjectpropertyasshownhereon.

SURVEYOR'S CERTIFICATION: The undersigned does hereby certify to Sewell Title Company (G.F.# SEWELL9238-KS), that this survey was this day made on the grouod of the propertylegallydescribedhereonandis correctandto thebestof myknowledge,thereare no visible discrepancies,conflicts,shortages inarea,boundarylineconflicts,encroachments, :-:!n�:!:�improvements, easements or rights of way that I have been advised of except as

FLOOD NOTE: It is my opinion that the property described.hereon is not within the 100-year floodzoneareaaccordingto theFoderalEmergencyManagementAgencyFloodlnsurance Rste Map Community-Panel No. 485454 0355 K, preseot effective date of map, September 25, 2009,hereinpropertysituatedwithinZone"X".

Lots lthrough 13,Blockl;Lots lthroughl7,Block2;andLots lthroogh 9,BLock3, MEADOWBROOK PARK ADDITION, an addition to the City of Arlington, according to the plat recordcdinVolume388-P,Page64,PlatR.ecords,TanantCounty,Texas.

LEGEND

BOUNDARY SURVEY

Lots 1-13, Block 1, Lots 1-17, Block 2 and

Lots 1-9, Block 3, Meadowbrook Park Addition to the

City of Arlington, Tarrant County, Texas

Melrose Duplexes Site Plan

� walk-in

closet

bedroom

living Room

Floor PlansMelrose Duplexes

MELROSE DUPLEXES | 1900 MELROSE SMELROSE DUPLEXES | 1900 MELROSE ST ARLINGT ARLINGTTON, TX 7ON, TX 760106010The inThe infformation prormation presenesentted hered here is deemed te is deemed to be aco be accurcuratate, but it has noe, but it has not been independent been independently vtly verified. Werified. We make make no guare no guarananttee, wee, warrarrananty or rty or reprepresenesenttation. It is yation. It is your rour responsibility tesponsibility to independeno independently ctly cononfirm acfirm accurcuracacy and cy and compleompletteness. All Seness. All SVN® oVN® officffices ares are independene independently otly owned and operwned and operatated.ed.


4 MULTI-FAMILY SALE COMPARABLES






SUBJECT PROPERTY

1900 Melrose St, Arlington, TX 76010

$6,000,000Sale Price:

1960Year Built:47,320 SFBuilding SF:

$126.80Price PSF:

70No. Units:6.34%Cap:

1

DAVIS DRIVE DUPLEXES

1109 S Davis Drive | Arlington , TX 76013

$1,113,000Sale Price: 1950Year Built:

$116.70Price PSF: 14No. Units:

4.45%CAP: 05/15/2018Closed:

Building SF: 9,537 SF

Price / Unit: $79,500

Occupancy: 100%

1

2

LAKERIDGE APARTMENTS

2510 Community Drive | Dallas, TX 75220

$0Sale Price: 1969Year Built:


4.32%CAP: 08/24/2018Closed:


Price / Unit: $0

Occupancy: 98%

2

Sale Comps (Multi Family)Melrose Duplexes



3

THE EDGE AT WHITE ROCK

2455 Connecticut Lane | Dallas, TX 75214



4.7%CAP: 09/21/2018Closed:



Occupancy: 90%

$688,080NOI:

3

4

LA MADERA APARTMENTS

3714 Legendary Lane | Dallas , TX 75224



4.6%CAP: 02/09/2018Closed:



Occupancy: 75%

$85,560NOI:

4

5

PARKSIDE APARTMENTS

555 Precinct Line Road | Hurst , TX 76053

$0Sale Price: 1968Year Built:


5.5%CAP: 08/31/2018Closed:


Price / Unit: $0

Occupancy: 90%

5





6

VISTA DEL SOL

4316 Baldwin Avenue | Fort Worth, TX 76115





6%CAP: 05/11/2018Closed:

6

7

XANDER AT JAMES APARTMENTS

5612 James Ave | Fort Worth, TX 76134





6.25%CAP: 05/04/2018Closed:

7





PRICE BLDG SF PRICE/SF PRICE/UNIT CAP # OF UNITS CLOSE

Totals/Averages $5,112,600 49,747 SF $102.77 $89,023 5.12% - 57.43

1

2

3

4

5

6

7

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP # OF UNITS

Melrose Duplexes1900 Melrose StArlington, TX 76010

$6,000,000 47,320 SF $126.80 $85,714.29 6.34% 70

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP # OF UNITS CLOSE

Davis Drive Duplexes1109 S Davis DriveArlington , TX 76013

$1,113,000 9,537 SF $116.70 $79,500 4.45% 14 05/15/2018

Lakeridge Apartments2510 Community DriveDallas, TX 75220

N/A 52,800 SF $0 4.32% 66 08/24/2018

The Edge At White Rock2455 Connecticut LaneDallas, TX 75214

$14,640,000 94,880 SF $154.30 $149,387 4.7% 98 09/21/2018

La Madera Apartments3714 Legendary LaneDallas , TX 75224

$1,860,000 60,000 SF $31.00 $30,000 4.6% 62 02/09/2018

Parkside Apartments555 Precinct Line RoadHurst , TX 76053

33,276 SF $0 5.5% 38 08/31/2018

Vista del Sol4316 Baldwin AvenueFort Worth, TX 76115

$3,150,000 33,815 SF $93.15 $58,333 6.0% 54 05/11/2018

Xander at James Apartments5612 James AveFort Worth, TX 76134

$4,800,000 63,924 SF $75.09 $68,571 6.25% 70 05/04/2018

N/A

N/A

N/A

SVN | T rinity Advisors |

Sale Comps Summary (Multi Family)Melrose Duplexes

SUBJECT PROPERTY1900 Melrose St, Arlington, TX 76010

DAVIS DRIVE DUPLEXES1 1109 S Davis Drive

Arlington , TX 76013

2 2510 Community DriveDallas, TX 75220

LAKERIDGE APARTMENTS THE EDGE AT WHITE ROCK3 2455 Connecticut Lane

Dallas, TX 75214

LA MADERA APARTMENTS4 3714 Legendary Lane

Dallas , TX 75224

PARKSIDE APARTMENTS5 555 Precinct Line Road

Hurst , TX 76053

6 4316 Baldwin AvenueFort Worth, TX 76115

VISTA DEL SOL XANDER AT JAMES APARTMENTS7 5612 James Ave

Fort Worth, TX 76134



Sale Comps Map (Multi Family)Melrose Duplexes



5 DUPLEX SALECOMPARABLES



SUBJECT PROPERTY (AVG DUPLEX)

1900 Melrose St, Arlington, TX 76010

1960Year Built:Sale Price: $171,428.57$126.80Price PSF: 2No. Units:

1

1413-1415 COLLEGE ST- PENDING SALE

1415 College Street | Grand Prairie , TX 75050

$230,000Sale Price: 1954Year Built:




1

2

709 N PECAN STREET

709 N Pecan Street | Arlington, TX 76011

$159,000Sale Price: 1961Year Built:




2


Sale Comps (Individual Units/Duplexes)Melrose Duplexes



3

5033 BYERS AVENUE

5033 Byers Avenue | Fort Worth, TX 76107

1962Year Built:Sale Price: $875,000


No. Units: 7

Occupancy: 100%

3

4

2030 FLEUR DE LIS COURT

2030 Fleur De Lis Court | Arlington, TX 76012

1971Year Built:Sale Price: $285,000

Price PSF: $111.76 2No. Units:



4



Sale Comps (Individual Units/Duplexes)Melrose Duplexes



1

2

3

4

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

Melrose Duplexes1900 Melrose StArlington, TX 76010

(AVG DUPLEX)

1,352 SF $126.80 $85,714 2

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE

1413-1415 College St PENDING SALE 1415 College Street Grand Prairie , TX 75050

$230,000 1,140 SF $159.72 $115,000 2 -

709 N Pecan Street709 N Pecan StreetArlington, TX 76011

$159,000 1,200 SF $132.50 $79,500 2 -

5033 Byers Avenue5033 Byers AvenueFort Worth, TX 76107

$875,000 - - $125,000 7 -

2030 Fleur De Lis Court2030 Fleur De Lis CourtArlington, TX 76012

$285,000 2,550 SF $111.76 $142,500 2 -

PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE

Totals/Averages $387,250 1,490 SF $259.90 $119,153 3.25


Sale Comps Summary (Individual Units/Duplexes)Melrose Duplexes

$171,428.57



SUBJECT PROPERTY1900 Melrose St, Arlington, TX 76010

1413-1415 COLLEGE ST1 1415 College Street

Grand Prairie , TX 75050

709 N PECAN STREET2 709 N Pecan Street

Arlington, TX 76011

5033 BYERS AVENUE3 5033 Byers Avenue

Fort Worth, TX 76107

2030 FLEUR DE LIS COURT4 2030 Fleur De Lis Court

Arlington, TX 76012


Sale Comps Map (Individual Units/Duplexes)Melrose Duplexes

5DEMOGRAPHICS





1 MILE 2 MILES 3 MILES

15,984 57,858 128,536

28.9 27.6 27.7

27.7 27.5 27.3

29.9 27.7 28.2

4,915 19,051 44,726

3.3 3.0 2.9

$44,697 $41,678 $44,778

$88,418 $93,476 $110,650

10,600 35,273 73,160

1,825 8,423 23,340

Total population

Median age

Median age (male)

Median age (female)

Total households

Total persons per HH

Average HH income

Average house value

Total Population - White

Total Population - Black

Total Population - Asian 438 3,639 9,518

19 25 104

151 457 835

2,668 8,652 18,560

8,733 29,900 59,435

Total Population - Hawaiian

Total Population - American Indian

Total Population - Other

Total Population - Hispanic

* Demographic data derived from 2010 US Census


Demographics ReportMelrose Duplexes

MELROSE DUPLEXES | 1900 MELROSE ST ARLINGTON, TX 76010The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

POPULATION 1 MILE 2 MILES 3 MILES

15,984 57,858 128,536

28.9 27.6 27.7

27.7 27.5 27.3

29.9 27.7 28.2

Total population

Median age

Median age (Male)

Median age (Female)

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

4,915 19,051 44,726

3.3 3.0 2.9

$44,697 $41,678 $44,778

$88,418 $93,476 $110,650

Total households

# of persons per HH

Average HH income

Average house value

* Demographic data derived from 2010 US Census


Demographics MapMelrose Duplexes

6 ADVISOR BIO1900 Melrose St

Arlington, TX 76010


PROFESSIONAL BACKGROUND

Steve Fithian serves as Senior Advisor and Managing Director for SVN | Trinity Advisors. With over 30 years ofcommercial real estate experience, Fithian specializes in selling and overseeing investment property sales that includemultifamily, mini-warehouse, office, retail, undeveloped land and finishe lots. He also organizes, manages, and acts asthe general partner in property partnerships.

Fithian holds the designation of Certifie Commercial Investment Member (CCIM) and is the former chairperson of theNorth Texas Chapter CCIM Membership Committee. In 2011, he was named a counselor to the Society of ExchangeCounselors. The Society of Exchange Counselors is a marketing group consisting of approximately 100 investmentbrokers from various parts of the country who have proven their skills at solving clients' problems.

Fithian also is a member of the Texas Association of REALTORS where he was appointed a member of the 2004Regulatory & Private Property Rights Task Force. In addition, he is a member and former chairman of the Society ofCommercial REALTORS in Fort Worth. In 2008, he received the Charles D. Tandy Commercial REALTOR of the Year Award,which is given by the Society of Commercial REALTORS to the REALTOR who best exemplifie the highest professionalstandards for commercial real estate. In 2002, he was awarded the William C. Jennings Award for CommercialTransaction of the Year in Texas by the Texas Association of REALTORS. Fithian has also received several sales awardsfrom SVN including Partner's Circle awards in 2005, 2006, and 2014, and the Achiever's Award in 2007, 2008, 2009 and2010.

Fithian is a licensed broker in Texas and California, and is a certifie public accountant. Additionally, he earned aBachelor of Arts in economics with an emphasis in accounting from Claremont McKenna College.


Advisor Bio & Contact


3000 Race Street, Suite 100Fort Worth, TX 76111T 817.288.5524C [email protected] #0407418

STEVE FITHIAN, CCIM, CPM, SEC

Managing Director

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of SVN | Trinity or owner or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is the SVN | Trinity Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to SVN | Trinity.

Neither the SVN | Trinity Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by SVN | Trinity with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN | Trinity Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warrantied that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and the owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN | Trinity Advisor, nor any of their officers, employees, representatives, independent contractors, or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN | Trinity Advisor from any liability with respect thereto.

To the extent Owner or any Agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

CONFIDENTIALITY & DISCLAIMER NOTICE





DFW Trinity Advisors, LLC 9004520 [email protected] 817-288-5525

Stephen H. Fithian 0407418 [email protected] 817-288-5524



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