Towne Oaks Town Homes

Investment Summary

Property:  TOTH (Towne Oaks Town Homes), an off-market 90 unit garden style community in Tyler, TX. Built in 1968, the property consists of 24, one-story garden style apartment buildings on an 8.15-acre site. Amenities include a beautiful clubhouse and pool area.


Strategy:  Acquisition of a performing asset with upside via utilities charge back and property management efficiencies with its sister property across the street, also owned by our partners on TOTH.

Opportunity Highlights

Our business plan includes the following improvements.


  • The property is currently managed as a single 90 unit asset. While this size property does operate more efficiently than smaller properties there are many areas for improvement.  We've combined management with a larger property across the street to improve our bottom line.


  • The prior owners were paying the water bills for all tenants even though charging back water is a common practice in Tyler, TX. All new leases and renewals will assume water costs going forward.


  • Current Management has not implemented practices designed to bring rents up to market levels. Our rent model brings rents for all unit types up to market levels that have already been proven across the street at Town Oaks East.

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