Mira Monte Apartments

Highlights:

• HEAVY VALUE-ADD OPPORTUNITY WITH SIGNIFICANT UPSIDE: Mira Monte presents a true value-add opportunity with 116 units, most in original or lightly upgraded condition. With an estimated $2.25M CapEx budget, new ownership can execute a full renovation—including roofs, parking lot, exterior paint, and interior upgrades—to push rents by $200–$400+ per unit and drive substantial NOI growth.
• BELOW-MARKET RENTS WITH IMMEDIATE CASH FLOW: Currently operating below market rents with 82% occupancy, the property provides in-place income and immediate yield. This positions Mira Monte as a cash-flowing asset with both short- and long-term upside potential.
• STRATEGIC LOCATION IN RAPIDLY GROWING SUBMARKET: Located in the high-demand western corridor of Fort Worth, the property benefits from strong population growth, improving demographics, and proximity to major employment centers, schools, and retail hubs. Mira Monte offers convenient access to I-30, I-820, and Loop 820, providing residents quick commutes to downtown Fort Worth.
• LARGE UNIT SIZES IDEAL FOR TENANT RETENTION: With an average unit size of 887 SF—including spacious 1-bedrooms at ±770 SF and 2-bedrooms at ±1,100 SF—Mira Monte offers some of the largest floorplans in its class, appealing to long-term renters and families.
• IDEAL INVESTMENT PROFILE FOR YIELD + GROWTH INVESTORS: This asset offers a blend of in-place cash flow with significant value creation through strategic capital deployment. Investors can expect both stabilized cash-on-cash returns and long-term equity growth as the asset is repositioned.
• TRAFFIC COUNT REPORT: Las Vegas Trail sees an average daily traffic volume of ±12,468 vehicles and is located just ±0.16 miles from the property, providing excellent visibility and easy access for residents—an attractive feature that supports strong tenant demand and long-term occupancy.

Description:

The Mira Monte Apartments is a 116-unit, heavy value-add multifamily asset located in a high-demand, rapidly growing pocket of Fort Worth, Texas. This offering presents a rare opportunity for investors seeking meaningful upside through strategic renovations and operational improvements. Currently 82% occupied and operating below market rents, Mira Monte provides immediate in-place cash flow with strong value-add potential.

The majority of units are in classic or lightly upgraded condition, allowing for a comprehensive renovation program that includes interior modernizations, exterior enhancements. Significant capital improvements are needed—including roof replacement, parking lot resurfacing, exterior paint, and full interior renovations (flooring, fixtures, kitchens, and baths)—positioning the asset as a prime candidate for repositioning.

Once renovated, ownership can expect to push rents to attract a stronger tenant base, and drive substantial NOI growth. With its large unit sizes, strong connectivity to major highways, and proximity to employment and retail, Mira Monte is well-positioned for investors focused on generating long-term equity appreciation and stabilized cash returns in one of Fort Worth’s most dynamic submarkets.

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