Chapel Walk Apartment
92% (July 2019)
The Property is located in a very desirable area inside the city of Tyler. Adjacent to the property is an upscale residential community with homes valued significantly higher than the Tyler city average. The Property features prominent exposure on Old Bullard Road. The city of Tyler is located in Smith County, one of the fastest growing counties in the state of Texas. The city and surrounding area have experienced steady population and household formations growth, attributable to its employment growth, low cost of living, low crime rate, and the overall quality of life.
The Village at North Elm serves as North Greensboro’s main shopping center for Class A retail and is walkable from Chapel Walk Apartments: the sites sit less than three quarters of a mile from one another.
The property is the ideal value-add asset as current market rents trail submarket rents and there are proven value-add assets nearby. Additionally, the property has been operated with a long-term hold philosophy as the property is experiencing minimal deferred maintenance.