200 W. Pioneer Parkway

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Address: 200 W. Pioneer Parkway, Arlington, Texas, US
Created date: March 21, 2024
Date last updated: April 11, 2024
  • STABILIZED WITH UPSIDE
  • L’Abri of Arlington is a 90-unit property situated on 3.37 acres featuring an attractive unit mix of three studio units, 10 one-bedroom units, 65 two-bedroom units, 11 three-bedroom units, and one four-bedroom unit. With all units in classic condition, a new owner has significant upside potential given the nearest three comparable property’s rents average $217/month higher for efficiencies, $292/month higher for one-bedrooms, $516/month higher for two-bedrooms, and $443/month higher for three-bedrooms. Additionally, ownership terminated the laundry lease allowing a new owner to implement a new contract or purchase and install their own machines.
  • RECENT IMPROVEMENTS
  • Current ownership spent over $1 million on improvements to major systems during their ownership. Recent common area and exterior improvements include TPO roofs in 2015, landscaping and drainage, new signage with masonry planter, exterior paint, parking lot blacktop overlay in 2023, replaced retaining wall and fencing on the property’s west side, and two new laundry room water heaters. Unit interiors were rehabbed beginning in 2015 with upgraded lighting, resurfaced countertops, vinyl plank flooring, and installation of GFCIs in kitchens and baths. Additionally, 80% of in unit water heaters were replaced.
  • RECREATION AND ENTERTAINMENT HUB
  • Ideally situated near the corner of two major Arlington thoroughfares (daily traffic count of 47,930 vehicles), the Property is positioned one block from staple and specialty retail venues, including national convenience stores. Residents also have access to the walking paths and bike trails on the historic 12-acre Indian site of Marrow Bone Spring Park. In addition to the nearby recreation, the City of Arlington hosts multiple entertainment attractions including both the Dallas Cowboys football franchise at AT&T Stadium and the Texas Rangers Baseball Club at Globe Life Park, as well as Six Flags Over Texas and Six Flags Hurricane Harbor. Nearby retail includes the Arlington Highlands Mall, which is host to over 100 retailers and restaurants including World Market, Old Navy, Kirklands, Conn’s, PetSmart, Red Robins, Pluckers Wing Bar, Dave & Buster’s, Studio Movie Grill and much more.
  • PRIME COMMUTER ORIENTED LOCATION
  • Given the central location of the Property, commuters enjoy the convenience to Dallas-Fort Worth’s main thoroughfares consisting of Interstates 20 and 30 (two and four miles away, respectively), Highway 360 (three miles from the Property), and President George Bush Turnpike (five miles from the Property). This location is ideal for commuters employed in Arlington, as well as the Dallas and Fort Worth markets.
  • FINANCING OPTIONS
  • L’Abri of Arlington is being offered free and clear of existing debt. Contact Greysteel Capital Markets to discuss the most efficient financing solution.

Property Description

STABILIZED WITH UPSIDE L’Abri of Arlington is a 90-unit property situated on 3.37 acres featuring an attractive unit mix of three studio units, 10 one-bedroom units, 65 two-bedroom units, 11 three-bedroom units, and one four-bedroom unit. With all units in classic condition, a new owner has significant upside potential given the nearest three comparable property’s rents average $217/month higher for efficiencies, $292/month higher for one-bedrooms, $516/month higher for two-bedrooms, and $443/month higher for three-bedrooms. Additionally, ownership terminated the laundry lease allowing a new owner to implement a new contract or purchase and install their own machines. RECENT IMPROVEMENTS Current ownership spent over $1 million on improvements to major systems during their ownership. Recent common area and exterior improvements include TPO roofs in 2015, landscaping and drainage, new signage with masonry planter, exterior paint, parking lot blacktop overlay in 2023, replaced retaining wall and fencing on the property’s west side, and two new laundry room water heaters. Unit interiors were rehabbed beginning in 2015 with upgraded lighting, resurfaced countertops, vinyl plank flooring, and installation of GFCIs in kitchens and baths. Additionally, 80% of in unit water heaters were replaced. RECREATION AND ENTERTAINMENT HUB Ideally situated near the corner of two major Arlington thoroughfares (daily traffic count of 47,930 vehicles), the Property is positioned one block from staple and specialty retail venues, including national convenience stores. Residents also have access to the walking paths and bike trails on the historic 12-acre Indian site of Marrow Bone Spring Park. In addition to the nearby recreation, the City of Arlington hosts multiple entertainment attractions including both the Dallas Cowboys football franchise at AT&T Stadium and the Texas Rangers Baseball Club at Globe Life Park, as well as Six Flags Over Texas and Six Flags Hurricane Harbor. Nearby retail includes the Arlington Highlands Mall, which is host to over 100 retailers and restaurants including World Market, Old Navy, Kirklands, Conn’s, PetSmart, Red Robins, Pluckers Wing Bar, Dave & Buster’s, Studio Movie Grill and much more. PRIME COMMUTER ORIENTED LOCATION Given the central location of the Property, commuters enjoy the convenience to Dallas-Fort Worth’s main thoroughfares consisting of Interstates 20 and 30 (two and four miles away, respectively), Highway 360 (three miles from the Property), and President George Bush Turnpike (five miles from the Property). This location is ideal for commuters employed in Arlington, as well as the Dallas and Fort Worth markets. FINANCING OPTIONS L’Abri of Arlington is being offered free and clear of existing debt. Contact Greysteel Capital Markets to discuss the most efficient financing solution.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 90
Year Built: 1973
Lot Size: 3.37 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 200 W. Pioneer Parkway, Arlington, TX 76010, USA
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