{"id":1004128608,"date":"2015-10-02T02:02:13","date_gmt":"2015-10-02T10:02:13","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361959"},"modified":"2021-05-14T19:40:15","modified_gmt":"2021-05-15T03:40:15","slug":"irving-community-ready-for-new-ownership","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/irving-community-ready-for-new-ownership\/","title":{"rendered":"Irving Community Ready for New Ownership"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p>Bethesda, Md.-based Greysteel announced that its multifamily investment sales team has been selected as exclusive adviser and sales agent for the Rock Island Apartments, a 154-unit rental community located at 2002 Rock Island Road in Irving, Texas.<\/p>\n<div id=\"attachment_361960\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Rock-Island-Apartments.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-361960\" title=\"Rock Island Apartments \" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Rock-Island-Apartments.jpg\" alt=\"Rock Island Apartments \" width=\"300\" height=\"198\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Rock Island Apartments<\/p>\n<\/div>\n<p>Having been developed in 1973, the multifamily property has undergone extensive interior and exterior renovations in recent years, including new paint, energy efficient solar screens, two-inch TPO roofing, and a new boiler. The apartments feature wood-look vinyl flooring, resurfaced countertops, and upgraded black appliance packages. The apartment complex is less than five minutes from the Downtown Irving\/Heritage Crossing Station of the TRE; within a mile of six community parks; and in close proximity to a Kroger store.<\/p>\n<p>According to <a href=\"https:\/\/www.yardimatrix.com\/\" rel=\"nofollow\">Yardi Matrix<\/a> property records, the Rock Island Apartments complex has been under the same ownership since 2011, when it was acquired for $5.12 million or $33,247 per unit.<\/p>\n<p>\u201cRock Island is a well-maintained asset in the highly desirable Irving market. Ownership has recently implemented further upgrades on 12 units with tiled backsplashes in the kitchens to push rents an extra $30\/month,\u201d Boyan Radic, managing director with <a href=\"https:\/\/greysteel.com\">Greysteel<\/a>, said in a prepared statement. \u201cThis additional revenue along with upgrading the remaining units that haven\u2019t turned will allow a new buyer to step in to an already stabilized asset and further increase the returns and value.\u201d<\/p>\n<p><em>Image courtesy of Greysteel<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another Irving community has hit the shelves with the help of brokers.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586],"tags":[682],"class_list":["post-1004128608","post","type-post","status-publish","format-standard","hentry","category-dallas","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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