Richland Court

Richland Hills, TX

Info For Buyers

Overview

Summary

Price Market
Address 6626 Reeves St, Richland Hills, TX
# Units 46
Rentable SF 37,900 SF
Year Built 1970

Richland Court Apartments & Townhomes is a renovated 46-unit multifamily community located in Richland Hills, a suburb of Fort Worth. The property was built in 1970 and is comprised of 5, two-story buildings with brick siding, situated on a total area of 1.68 acres. Richland Court offers spacious and well-appointed one- and two-bedroom floor plans. Amenities may vary by unit and include vinyl wood plank flooring throughout, fully equipped kitchens and contemporary bathrooms with tiled tub and shower surrounds. A property management office is on-site, and ample parking spaces are provided.

Key Facts

Prime Location: Just 15 minutes from Downtown Ft. Worth, DFW Airport, and major highways, with proximity to malls and key amenities.

Upside Potential: Under new management for 12 months, economic vacancy improving in the last 6 months. Numerous value-add opportunities available, including exterior revitalization, utility improvements, and amenities enhancement.

Community Benefits: Located near bustling intersections, retail outlets, and educational institutions. Strong median household income within a 3-mile radius.

Well-Maintained Asset: Strong unit mix, individual HVAC, and hot water systems. Features include ample parking, clothes care facility, and select units with premium upgrades.

Capital Improvements: Over $1M invested in both exterior and interior upgrades, enhancing aesthetic appeal and functionality.

Financing Options: Positive leverage with assumable FSBL proceeds and favorable fixed rates, offering flexibility for potential buyers.