90-Unit Multifamily Asset Constructed in 2009 Hits the Market in Historic Granbury, Texas
Attractive Class A Asset
Lakeside is an attractive Class A multifamily asset in the Fort Worth suburb of Granbury, Texas. Built in 2009, the property consists of 90 units with a strong mix of one and two bedrooms. Three floor plans include 40 one bedroom / one bath units of 580 square feet, ten one bedroom / one bath units of 620 square feet, and 40 spacious two bedroom / two bath units comprised of 920 square feet. Units feature private entrances, private patios and balconies, washer and dryer connections, storage closets, and fully-equipped kitchens with electric ranges, microwaves, dishwashers and disposals. Attractive community amenities include a large sparkling swimming pool, beautifully landscaped grounds with nicely manicured green space, an onsite management office, a fitness center, available covered parking and a business center.
Lakefront Living Destination City in Dallas/Fort Worth MSA
The historic town of Granbury is located approximately 30 miles southwest of Fort Worth on State Highway 377. The city serves as the county seat for Hood County, one of the fastest growing in Texas, with a county population of 59,000 as of the 2010 Census. Generally considered a Fort Worth suburb, the city is nestled along the shores of Lake Granbury, a long and narrow 8,310-acre lake which flows through the city providing 103 miles of shoreline. Granbury’s shore, the constant-level lake and private boat docks maintain the city’s status as a popular lakefront living destination city as well as a fishing and recreational attraction for its 7,978 residents and recreational tourists alike. Within easy commuting distance to Dallas/Fort Worth, and property tax rates which are 20% lower than in Forth Worth, Granbury offers an appealing mix of history and small town charm with its historic nineteenth century courthouse square, Granbury Opera House and one of the last operating drive-ins in the state. Granbury was featured in 2004 in the Wall Street Journal as a great example of the new “Micropolitan” city.
Excellent Location with Proximity to Historic Downtown District and Major Employers
The property is located within excellent proximity to the recently expanded Lake Granbury Medical Center, one of the area’s largest non-retail employers, as well as Walmart Super Center, Home Depot with approximately 250 employees, the historic district and Granbury City Park. Other large employers include Granbury Independent School District, the City of Granbury, Hood County, and Comanche Peak Nuclear Power Plant. Located ten miles south of Granbury, Comanche Peak currently employs approximately 1,300 people and is currently undergoing a major expansion expected to create a major economic impact for the state, including thousands of new construction jobs and nearly 1,000 new onsite jobs.
Diverse Local Industry
In addition to tourism in the area as a strong economic driver, agriculture plays an important economic role as a leading industry in Hood County with beef and dairy cattle a longtime staple in the region. The city has successfully attracted a growing number of residents spurring steady economic growth and development. Two new middle schools in the district have been opened as a result of tremendous growth in recent years. Many of Granbury’s inhabitants commute to the Dallas/Fort Worth metroplex daily, benefitting from the hometown living the city offers and easy accessibility to a major metropolitan area. Lakeside Apartments offer a prospective investor strong future rent growth potential, longterm stability and excellent value appreciation.
This investment opportunity is being offered on an a cash to existing note basis.
For the complete marketing package, please return the Lakeside Confidentiality Agreement via fax or email, or contact us directly.