IPA Texas is pleased to present the exclusive listing of 4000 Hulen, a 240-unit, stabilized asset in Fort Worth, Texas. The property is located in a highly visible location on the Chisholm Trail Toll Road, just southwest of Downtown (50,000+ employees), strategically positioned between the Near Southside Medical District (40,000+ employees) and The Shops at Clearfork and adjacent to the Colonial Country Club. Additionally, 4000 Hulen is less than two miles from Texas Christian University (TCU), which has an enrollment of 11,000 and employs over 2,300 faculty and staff. Residents are also less than a 10-minute drive from Fort Worth’s top grocers, including the only Central Market and Whole Foods in the city.
Built in 2015, the asset presents a new investor with a significant value-add opportunity. Current rents at 4000 Hulen are over 15 percent below the average of nearby competitors, providing additional opportunity for organic rent growth. The property has performed exceptionally well; in the trailing 12 months, the property averaged 95 percent occupancy with nine percent effective rent growth.