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Richland Court

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Address: 6626 Reeves St, Richland Hills, TX 76118, USA

Texas + Apartment Buildings

Created date: February 29, 2024

Date last updated: September 20, 2024

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.

Property Description

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.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
No. of Units:	46
Year Built:	1970
Lot Size:	37,900.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here