The Oakley Apartments were acquired on September 30, 2021, in Arlington, TX, an in-fill submarket demonstrating strong workforce demographics. The 196-unit property is conveniently located within the Dallas-Fort Worth MSA, just 20 miles west of downtown Dallas. The property offers numerous opportunities to add value through interior and exterior renovations as well as a more hands on approach to management. The property’s value-add strategy will consist of renovations to 84 classic units, enhancements to 48 partially renovated units, washer & dryer additions and extending ground floor patios into private yards. Exterior renovations and enhancements are to include improvements to landscaping, signage, pool area upgrades, fitness center, and an exterior paint refresh.
The garden-style complex was built in 1980 and offers a unit mix of one-, two- and three-bedroom units ranging from 700 to 1,310 square feet. Interior enhancements will include, custom cabinetry, new appliances, kitchen tile backsplash, modern-style flooring, and updated countertops. Community amenities will be enhanced including a playground, two swimming pools, a fitness center, dog park and clubhouse.
Arlington is a part of the Dallas-Fort Worth Metroplex and idyllically situated less than 20 miles from both Fort Worth and Dallas and a 15-minute drive from the Dallas-Fort Worth International Airport. At the crossroads of multiple major highways, the suburb ranks as Texas’s seventh largest city and is home to both AT&T Stadium hosting the Dallas Cowboys and Globe Life Field, home of the Texas Rangers as well as its’ own amusement park, Six Flags Over Texas. In addition to being a destination for entertainment, the city offers a plethora of employment opportunities through being a hub for aerospace and aviation industries, as well as automotive, industrial machinery and medical devices manufacturing, all benefiting from the city’s accessibility to major supply chains, lower business costs and proximity to one of the nation’s largest airports. Major employers in area include Arlington ISD, University of Texas at Arlington, General Motors Co., Texas Health Resources, Six Flags over Texas and GM Financial, all contributing to Arlington’s economic stability and in-migration.
- Dog Park
- Two Sparkling Pools & Grill Areas
- Newly Renovated Fitness Center
- Elegant Clubhouse with Business Center