Transcript of a YouTube presentation by Sarah Sullivan and Emily Michael promoting Ashland Green Value Add Fund VI — an off-market multifamily investment in Dallas–Fort Worth. The featured garden‑style asset (built 1984) is a three‑story, 240‑unit property (93% occupied, avg unit 755 sq ft) targeted for interior and exterior value‑add renovations to raise rents and income through unit upgrades and new amenity/income programs.
Questions this video answers
1984
240 units
93%
755 square feet
One-, two-, and three‑bedroom floorplans
Chapters
Hello investors. I'm excited to announce that this asset behind me is going to be part of our next offering, Ashland green value add fund 6 which consists of off market multiple assets here in Dallas Fort Worth. Built in 1984, this asset is a three story garden style multifamily complex consisting of 240 units currently occupied at 93%. This asset offers various floor plans of ones, twos and three beds where the average square foot is 755. We're able to secure this asset off market due to Ashton Green's strong relationships with brokers here in the Metroplex. I will now pass it over to Emily Michael where they'll be discussing the location as well as our planned CAPEX projects.
This asset is in a great location located just between I20 and I30. Tenants can easily access the Dallas and Fort Worth Urban City centers as well as the mid cities of Arlington, Irving and Northeast Fort Worth. Some nearby attractions include Epic Central, which is a fun destination for the entire family to enjoy Six flags over Texas, AT&T Stadium, Globe Life Feel and Texas Live. Some nearby employment drivers include Six Flags Over Texas, Arlington isd, the University of Texas at Arlington and General Motors. For this asset's interior renovation plan, we are allocating $10,000 per unit using our proven Value Add plan where some interior renovations include stainless steel appliances, quartz countertops, brushed nickel hardware and a new lighting package, just to name a few. These interior renovations are targeting a rent premium of about $300 per month.
In terms of our business plan, we plan to improve curb appeal and correct the deferred maintenance of this asset. Some of these items include exterior paint throughout, new signage and rebr, completing the roof replacement and security of perimeter fencing. In regard to the amenities of this asset, some of our improvements include refreshing the leasing office, upgrading the pool area, rejuvenating the dog park and improving the existing fitness center. For our exterior cafex renovations, we've allocated about $3.8 million. On the income side, Some of the additional income drivers that we're adding implementing a washer dryer rental program, adding in private yards and reserve parking, adding in a Bolt CA and WiFi package and implementing a water savings and leak detection program.
