Spanish Chase – 3200 W. Pioneer Dr., Irving, TX

77 units
- Mix of 1 bed/1 bath, 2 bed/1 bath, 2 bed/2 bath and 3 bed/2 bath
- Average unit size: 823 sq. ft.
Purchased Nov. 2012; sold Nov. 2017
Over $120K in capital improvements
Converted from All Bills Paid (ABP) to RUBS (Resident Utility Billback System)
13 investors/owners
Value Play:
- Cash flow: 5-12%
- 188% capital gain on sale