Multi-Housing

Bella Vida at Coyote Ridge 2021

4253 Hunt Dr Carrollton, Texas United States 75010-3202
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1999
Building Area
Land Area ()
Number of units 528

Property Description

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 Bella Vida at Coyote Ridge (the “Property”) an institutional Class “A” asset located in Carrollton, Texas. Built in two phases in 1998-2001, the 528-unit apartment community presents a unique opportunity to acquire an exceptionally well-maintained Class “A” asset with 100% direct access garages with significant value-add potential. Located less than one mile from Sam Rayburn Tollway (SH-121) the Property can easily access every major employment center and retail hub in Dallas / Fort Worth including the master-planned Legacy West, Dallas/Fort Worth International Airport, Nebraska Furniture Mart/Grandscape, and the Platinum Corridor. Bella Vida at Coyote Ridge represents a unique opportunity to acquire a low-density asset in a family-friendly community with a strong school district.

Investment Highlights

  • One-of-a-Kind Class “A” Asset with 100% Direct Access Garages – Bella Vida at Coyote Ridge is a truly unique, institutional asset that provides residents with a lifestyle that is rarely offered in the DFW metroplex. Located on 35.5 acres with mostly a two-story design, the Property offers a low density setting with only 14.9 units per acre and features 100% direct access garages, which is extremely rare in the marketplace. Coupled with an average unit size of 1,323 SF, and an upscale amenity package that rivals a boutique hotel, the Property enjoys a tranquil single-family residential neighborhood setting. Furthermore, the Property is surrounded by Coyote Ridge Golf Course.
  • Ideal Value-Add Opportunity with Ability to Push Rents – The Property represents an extraordinary opportunity to further achieve rental premiums through continued unit enhancements. Currently there are 38 upgraded units achieving a $150 rental premium. In addition, there are 123 units with washer/dryer that are receiving a $50 premium and 258 units with tech packages.
  • Highly Affluent Demographic Base – Bella Vida at Coyote Ridge enjoys a premier location that is supported by strong demographics. Located within the Indian Creek single-family residential neighborhood, the average household income within a three-mile radius of the Property is an impressive $115,700. Additionally, the average home price within a three-mile radius is $349,400 while home prices within Indian Creek range from $475,000-$790,000+ making renting very appealing.
  • Proximate to Major Employment Centers – The Property is situated along SH 121, placing residents’ minutes from some of the busiest highways in North Texas including SH-121, I-35E, SH-161, and the Dallas North Tollway. This ideal location places residents in close proximity to several of the largest employment centers throughout DFW including Dallas/Fort Worth International Airport, Legacy West, Platinum Corridor, and Cypress Waters.
  • Prestigious School District – With an average unit size of 1,323 SF, Bella Vida at Coyote Ridge is a highly attractive community for families that want to be in a nationally acclaimed school district as the Property is served by Lewisville ISD, which is ranked as the in the top 4% on both the state and nation level according to Niche. In addition, Killian Middle School and Hebron High School are ranked in the top 3% nationally.


Last Updated Date: 08 Apr 2021
Roberto Casas
Roberto Casas
Senior Managing Director, Multi-Housing Group Leader
License details
TX-0512740
Bill Miller
Bill Miller
Senior Managing Director, Multi-housing Group Leader
License details
AL-000066273 TX-0469707

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Last Updated Date: 08 Apr 2021

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