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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Key Facts

Year Built 1984
Building Area
Land Area
Last Updated Date 27 Jul 2020

Property Description

Originally constructed in 1984, The Madison, a 364 unit Class B property is a well-conceived asset with several unique attributes including a low-density setting with ample greenspace and mostly two-story buildings, classic red brick and Hardi-board exteriors, and desirable floor plans. Not only have the interiors not been renovated but also the common areas and leasing center present opportunity to enhance as well. Amenity enhancements such as remodeling the clubhouse, converting the maintenance shop to a fitness center, improvement of the pet park, outdoor gathering areas, and adding stainless steel BBQ grill/outdoor kitchens would be high-impact and help Madison compete.

Investment Highlights

Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in the Madison (the “Property”), a 364-unit Class “B” asset in northeast Dallas. Offered free and clear, the Property benefits from a prime location just off Interstate-635 providing accessibility to the numerous employment and entertainment destinations in the area including the Medical City Dallas Hospital, Telecom Corridor, North Park Center, Lake Highlands Town Center, and much more. The current owner and previous owners have carefully maintained the asset through the years, providing a new buyer with a rare opportunity to purchase an asset in excellent condition and 100% classic units that have not undergone any renovations.

Rob Key
Rob Key
Managing Director, Capital Markets
License details
TX-509191
David Austin
David Austin
Senior Director, Capital Markets
License details
652736

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