Opportunities to Improve Revenue Performance High-Quality Core+ Opportunity

Eleven11 Lexington at Flower Mound is a high-quality Core+ opportunity with light value-add upside via a bulk internet program, increase the covered parking rate to $50/mo., tech package, completion of remaining unit upgrades, and other rent-generating features. The asset’s 9′ ceilings and strong unit mix, including townhomes with direct-access garages, make it a highly desirable long-term investment. 

Exceptional Affluent Location & demographics 

Flower Mound is one of DFW’s Top 10 Income Cities. Eleven11 at Flower Mound is walkable access to Kroger and CVS-anchored neighborhood center with restaurants, retail, and lifestyle amenities. Central DFW location, north of DFW Airport, and roughly equidistant to Dallas and Fort Worth CBDs. Within a 20-minute commute to high-wage employment centers of Legacy West, Cypress Waters, and Las Colinas.

Excellent Flower Mound Schools in LISD 

The property is within the attendance zones of the highly rated Flower Mound High School, Shadow Ridge Middle School, and Bluebonnet Elementary, creating enhanced tenant demand. Flower Mound High School 

Structurally Lower Property Tax Rates than typical for DFW MSA 

Eleven11 Lexington at Flower Mound benefits from a combined property tax rate that is the lowest of the four urban counties in the MSA, which creates a material benefit to the owner’s bottom line. 

Tremendous Regional Connectivity 

The community is a short distance from DFW International Airport and is also located close to several major regional Interstate highways including Interstate 35E and Interstate 635.  

Flower Mound Apartment Submarket is Historically Supply Constrained

Only five new apartments comprised of 1,606 units have been built in the city of Flower Mound over the past decade, with few entitled sites available for new construction.

Free and Clear of Existing Debt 

Eleven11 Lexington at Flower Mound is offered free and clear of existing debt financing, offering investors the ability to structure the acquisition based on potential investors’ financing strategy.