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Multifamily

Somerset

Lewisville, TX

372 Units

Built in 1986

Suburban Core

Investment Highlights

  • 372 units built in 1986 with significant value-add potential in a high-performing submarket
  • Current rents are well below market, providing immediate upside in addition to unit upgrade premiums
  • Opportunity to continue and expand in-place unit enhancement program on remaining 84 percent and achieve average monthly premiums of $175
  • Exceptional historical performance experienced at Somerset, averaging 98% occupancy in the trailing three months
  • Central DFW location just 10 miles from Dallas, 20 miles from Fort Worth, and six miles to DFW Airport
  • Lewisville has experienced strong historical performance, averaging 95.6% occupancy and 3.5% rent growth

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