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|Building Area Net||
|Land Area Net||
|Number of units||96|
|Call for Offers||2021-11-10|
Jones Lang LaSalle Americas. Inc. or its state licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in the 96-unit The Monroe (the “Property”), a boutique community in Dallas, Texas. The Monroe enjoys excellent connectivity sitting adjacent to the Dallas North Tollway which provides immediate access to the major employment hubs of Uptown, Dallas Central Business District, Dallas Medical District, Dallas Market Center and Dallas Love Field Airport. New ownership has the opportunity to capitalize on the Property’s affluent demographic base, as well as implement unit interior and community upgrades to increase the overall resident appeal and effective rents.
AFFLUENT DEMOGRAPHICS SUPPORTED BY ROBUST POPULATION GROWTH - The Monroe enjoys a premier location in Dallas that is supported by some of the strongest demographics in the city. Within a three-mile radius of the Property the average household income is $129,500 and the average home value is an impressive $842,610. The area also supports a highly educated and growing population base with over 80% of residents having some college education and 40% population growth since 2010.
IDEAL VALUE-ADD OPPORTUNITY WITH ABILITY TO PUSH RENTS - The Property is a unique, intown asset that offers residents a community like atmosphere. Offering many unique features like real hardwood flooring, two-story townhome floorplans, and low-density living, The Monroe provides a desirable and intimate community. With this unique setting and impressive demographic base, a new owner can make simple, high-impact improvements to both the interiors and amenities to increase rents, which could include:
• Stainless Steel Appliances
• Quartz Countertops
• Kitchen Backsplash
• New Cabinet Fronts and Pulls
• Adding Washer and Dryer Sets in Units
• Smart Home Technology Package
• Pergola and Additional Pool Furniture
• Water Conservation Methods
• Improved Courtyard Areas
• Enhanced Dog Park