

North Hills Crest is a 122-unit 1963 build, class-c property just Northeast of Fort Worth in Haltom City, Texas. The property consists of 80 1-bedroom units, and 42 2-bedroom units for an average unit size of 513 square feet. MarketSpace Capital (“The Sponsor”) is purchasing this property at $69K/unit, for an all-in cost of $86,695/unit. At a 70% LTC The Sponsor is seeking $3.1MM in equity for a total project cost of $10,600,000.
The business plan is straightforward– to acquire properties at a discount relative to comps in a submarket, that have all or a combination of the following: rents below market, are mildly outdated, have moderate to high economic vacancy & are operationally deficient. From here, the Sponsor will increase the net operating income by executing on each of the below items.
9100 Southwest Freeway, Suite 201 Houston, Texas 77074
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