Vista del Sol | 4316 Baldwin Ave
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Vista del Sol 4316 Baldwin Ave
54 Unit Block of Flats For Sale Fort Worth, TX 76115
Investment Highlights
- $1.2MM+ in Value-Add Opportunities Through Interior Renovations, Adding Storage Units, and Adding Covered Parking
- Historic Occupancy at 95%+ (Currently at 98%)
- Extensive Capital Improvements Completed by the Current Owner
- Qualifies for a New Agency Loan at 75% LTV
- $56,172 Area Median Income Within a 5-Mile Radius (CoStar)
- Proximity to Key Amenities: Rosemont Schools, Magnolia Avenue, and Downtown Fort Worth
Executive Summary
Summary
The Multifamily Group is pleased to present the exclusive offering of Vista Del Sol, a prime all-bills-paid, value-add opportunity in Fort Worth, Texas. Constructed in 1968, Vista Del Sol comprises 54 units averaging 659 square feet. The property has 22 units that are one-bedroom/one-bathroom, and 32 units that are two-bedroom/one-bathroom. With a 98% occupancy rate, it surpasses the already strong local market average of 96% (Yardi). Vista Del Sol is being offered free and clear of any existing debt.
Capital Expenditures
- Over the past five years, the current owner has invested significantly in upgrades, including:
- 2019: Asphalt Repaired in 2019
- 2020: Full exterior paint and carpentry work, outdoor lighting, and camera systems
- 2022 & 2023: Installation of two new boilers
- Laundry Rooms: Renovated, including new machines.
- Unit Upgrades: 53 units have been enhanced with laminate wood flooring, ceiling fans, LED lighting, and mini-blinds, with one unit receiving premium upgrades
- Water Conservation: 60% of units are equipped with water-saving fixtures
- Additional Improvements: Replaced handrails, railroad ties, and concrete pads for trash dumpsters
Value-Add
- New ownership has the potential to further increase NOI by:
- Implementing a Ratio Utility Billing System (RUBS) for electricity
- Developing rentable self-storage units in the vacant parking area
- Installing carports and offering them for rent
- Introducing a cable/internet package
- Completing the installation of water conservation fixtures in the remaining 40% of units
- Converting the two empty common areas into amenities such as a dog park, picnic area, or playground
Prime Location
Vista Del Sol is ideally situated just 5-miles south of downtown Fort Worth, part of the booming Dallas-Fort Worth metroplex, with an MSA population exceeding 7 million. Fort Worth itself is the fastest-growing city in the U.S. and currently home to 996,756 residents. The property is located in an area with a median income of $56,172 (CoStar) and offers convenient access to key economic drivers, being just 6 minutes from both I-35W and I-20.
The Multifamily Group is pleased to present the exclusive offering of Vista Del Sol, a prime all-bills-paid, value-add opportunity in Fort Worth, Texas. Constructed in 1968, Vista Del Sol comprises 54 units averaging 659 square feet. The property has 22 units that are one-bedroom/one-bathroom, and 32 units that are two-bedroom/one-bathroom. With a 98% occupancy rate, it surpasses the already strong local market average of 96% (Yardi). Vista Del Sol is being offered free and clear of any existing debt.
Capital Expenditures
- Over the past five years, the current owner has invested significantly in upgrades, including:
- 2019: Asphalt Repaired in 2019
- 2020: Full exterior paint and carpentry work, outdoor lighting, and camera systems
- 2022 & 2023: Installation of two new boilers
- Laundry Rooms: Renovated, including new machines.
- Unit Upgrades: 53 units have been enhanced with laminate wood flooring, ceiling fans, LED lighting, and mini-blinds, with one unit receiving premium upgrades
- Water Conservation: 60% of units are equipped with water-saving fixtures
- Additional Improvements: Replaced handrails, railroad ties, and concrete pads for trash dumpsters
Value-Add
- New ownership has the potential to further increase NOI by:
- Implementing a Ratio Utility Billing System (RUBS) for electricity
- Developing rentable self-storage units in the vacant parking area
- Installing carports and offering them for rent
- Introducing a cable/internet package
- Completing the installation of water conservation fixtures in the remaining 40% of units
- Converting the two empty common areas into amenities such as a dog park, picnic area, or playground
Prime Location
Vista Del Sol is ideally situated just 5-miles south of downtown Fort Worth, part of the booming Dallas-Fort Worth metroplex, with an MSA population exceeding 7 million. Fort Worth itself is the fastest-growing city in the U.S. and currently home to 996,756 residents. The property is located in an area with a median income of $56,172 (CoStar) and offers convenient access to key economic drivers, being just 6 minutes from both I-35W and I-20.
Property Facts
| Sale Type | Investment | Lot Size | 1.34 AC |
| No. Units | 54 | Building Size | 35,570 SF |
| Property Type | Residential | Average Occupancy | 98% |
| Property Subtype | Apartment | Number of Floors | 2 |
| Apartment Style | Garden | Year Built | 1968 |
| Building Class | B |
| Sale Type | Investment |
| No. Units | 54 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.34 AC |
| Building Size | 35,570 SF |
| Average Occupancy | 98% |
| Number of Floors | 2 |
| Year Built | 1968 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 555 |
| 2+1 | 32 | - | 730 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £3,851,664 | |
| Land Assessment | £130,306 | Total Assessment | £3,981,971 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£130,306
Improvements Assessment
£3,851,664
Total Assessment
£3,981,971
zoning
| Zoning Code | MF (Multifamily) |
| MF (Multifamily) |
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Vista del Sol | 4316 Baldwin Ave
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