Johnson County TX residential portfolio sale
Multifamily | 6.40% CAP | 51 Units
Marketing description
Marketing Description – Morgan Acres Residential Portfolio
The Morgan Acres Residential Portfolio offers a rare opportunity to acquire a stabilized, income-producing residential portfolio spanning Rio Vista, Cleburne, and Grandview, Texas. Comprised of approximately 51 single-family homes and duplex units, this portfolio delivers immediate cash flow with built-in upside in one of North Texas’ steadily growing regional corridors.
Currently generating strong monthly income, the portfolio features an attractive average rental rate of ~$1,350 per unit, supported by strong tenant demand and a diversified rent range. The assets include a blend of newer construction (2012–2026) and well-maintained housing, appealing to long-term tenants seeking quality workforce housing in accessible suburban locations.
Priced at approximately $10.04 million (target), the offering equates to roughly $195K–$200K per door and $165–$175 per square foot, presenting a compelling basis relative to replacement cost and comparable sales in the market. The portfolio’s geographic clustering enhances operational efficiency, making it ideal for both local operators and institutional investors seeking scalable residential exposure.
Additional upside is created through vacant and newly delivered units scheduled for lease-up, providing a clear path to near-term revenue growth. Combined with below-market in-place rents and structured lease rollovers, investors have the ability to organically increase NOI without significant capital expenditure.
With a strong foundation of consistent cash flow, modern asset quality, and identifiable value-add components, the Morgan Acres Portfolio is well-positioned as a core-plus investment opportunity for buyers seeking yield, scalability, and long-term appreciation in the North Texas market.
Investment highlights
Investment Highlights – Morgan Acres Residential Portfolio
The P&L will be provided after CA is signed and access granted. The P&L reflects the entire portfolio which includes a commercial development and will need to be deducted to determine the NOI for the residential portion of the portfolio.
The Morgan Acres Residential Portfolio represents a stabilized, income-producing residential platform strategically located across Rio Vista, Cleburne, and Grandview, Texas. This offering consists of approximately 51 single-family and duplex units with strong in-place tenancy, modern construction mix, and immediate upside through lease-up and rental rate optimization.
The portfolio currently generates Strong monthly revenue, with an average rental rate of approximately $1,350–$1,375 per unit, positioning the asset as a reliable cash-flowing investment with mark-to-market potential. With a total valuation of $10.04 million, the portfolio trades at an attractive ~$195K–$200K per door and approximately $165–$175 per square foot, offering favorable basis relative to comparable SFR portfolios in the region.
A key differentiator is the significant spread between the current valuation and adjusted basis of $2.9 million, highlighting long-term ownership strength and providing buyers with strategic flexibility for tax planning, refinancing, or structured exit strategies.
The asset base is supported by newer vintage construction (2012–2026) and a diversified unit mix, with rents ranging from $950 to $2,500 per month, primarily concentrated in the $1,400–$1,700 range, which aligns well with workforce housing demand in these submarkets. Additionally, vacant and newly delivered units scheduled for lease-up in 2026 provide immediate NOI growth without requiring significant capital investment.
Operationally, the portfolio benefits from geographic clustering, enabling management efficiencies and scalability, making it highly attractive to regional operators, SFR funds, and 1031 exchange buyers seeking yield with upside.
Overall, this offering presents a core-plus investment opportunity combining stable in-place income, embedded appreciation, and clear pathways to value creation through lease-up, rent growth, and portfolio-level optimization.
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