Villas at Cantamar
Multifamily | 265 Units
Marketing description
Colliers is pleased to present Villas at Cantamar, a 265-unit multifamily community in Fort Worth’s Western Hills North submarket. Located just 10 minutes from Downtown and the Medical District, the property offers excellent access to Loop 820 and I-30, with proximity to major employers including Lockheed Martin and NAS JRB. The submarket also benefits from its position near Walsh Ranch and Veale Ranch, a transformative master-planned development expected to bring 80,000+ residents and significant commercial growth.
Built in 1971, the property features spacious floor plans averaging nearly 900 square feet, with large two- and three-bedroom units ideal for workforce housing demand. Since 2019, over $7.2 million ($27K/unit) has been invested to address major systems, including the chiller, boilers, and plumbing. Currently 92% leased following a successful operational turnaround, Villas at Cantamar offers investors a stabilized asset with strong fundamentals and the added benefit of an assumable Freddie Mac loan, providing a compelling cost-of-capital advantage.
Investment highlights
- Prime Workforce Housing Location – Within 1 mile of Lockheed Martin and NAS JRB, and 10 minutes to Downtown Fort Worth, serving a deeply rooted tenant base with limited competing supply.
- $7.2M+ in Capital Improvements Completed – ~$27K/unit invested since 2019, with major systems (roofs, chiller, cooling tower, boilers, plumbing) fully addressed.
- Proven Occupancy Recovery – Rebounded from ~76% to 92% leased through strategic pricing, marketing, and leasing initiatives now in place.
- Owner-Controlled Laundry Income Upside – Flexibility to implement a third-party contract for upfront cash or add in-unit W/D connections to drive rents.
- Largest Floor Plans in Submarket – Avg. ~900 SF with 2- and 3-bedroom units up to 1,500 SF, catering to strong family-oriented demand.
- Favorable Supply-Demand Dynamics – Proximity to schools and community amenities, with limited new supply and high home prices supporting renter demand.
- Assumable Freddie Mac Debt Advantage – $19.8M loan (~90%+ LTV) with low spread, 30-year amortization, and flexible prepayment enhances returns and exit flexibility.
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