Significant Value-Add Potential Approximately 65% of the units are in “classic” condition. Current ownership has lightly upgraded approximately 73 units with black appliances, white cabinet fronts, sink fixtures, lighting fixtures, vinyl wood flooring, and curved shower rods. A new investor is able to continue and expand upon the existing value-add program as well as implement fenced yards, washer/dryer appliances, and additional carports.
Baylor Scott & White Medical Center – Waxahachie Baylor Scott & White Medical Center Waxahachie is a 300,000 square foot premier medical facility providing care to Waxahachie, Midlothian, Red Oak, and surrounding cities. The hospital employs over 850 full time staff and is designed to accommodate 129 beds with room for expansion. The hospital has 12 ICU beds, a full Emergency Service Departments,Five Operating Rooms, 11 post-partum rooms with a full range of child-birth services, and 24- hour neo-natal nurse practitioner coverage.
Healthy Submarket and Property Rent Growth Trends Bridgepoint is in a prime location within the Ellis County submarket, which has averaged an impressive 96.8% occupancy over the last 4 years, and 97.3% in the most recent 24 months. The submarket’s effective rents have also increased by 21% over the same four-year time period. Bridgepoint has maintained a steady 95.5% occupancy over the last four years.
Strategic Exterior and Common Area Capital Improvements Current ownership has consistently invested significant capital to maintain and improve Bridgepoint including Clubhouse, Fitness Center, Pool Area, and Sport Court/Game Area renovations in the last couple of years. This allows new ownership the opportunity to focus on improving other revenue-generating aspects of the community such as unit interiors, fenced yards, additional carports etc.
Powerful Economic and Employment Drivers Waxahachie is located at the crossroads of Interstate 35E and U.S. Highway 287. Over 80,000 vehicles travel through this intersection daily, making Waxahachie the ideal location for a variety of businesses and industries. The population at the beginning of 2019 was just over 37,000, with a healthy average growth rate of 4.1% in 2018. Major area employers include Baylor Scott & White Medical Center – Waxahachie, Walgreens Distribution, Waxahachie Independent School District, Owens Corning Fiberglass Plant, and Dart Container Corp. Waxahachie is also 10 minutes from Midlothian Business Park and Railport Park where the new $500M Google Data Center will be developed.
Google Data Center Google has acquired 375 acres in Midlothian for the development of a new $500 million data center in return for significant tax breaks. The development is in the Railport Business Park and serves as assurance to other companies that Ellis County is fertile land for business as the towns lay out the red carpet for non-industrial companies.
Waxahachie Independent School District Waxahachie ISD is one of the top-rated school districts in north Texas and is rated “A” on Niche. The school system boasts a diverse student population of over 8,500 who continue to rank among the top of their peers in academics, athletics, and fine arts.
Waxahachie is located in Ellis County just beyond the southern suburbs of Dallas and is part of the Dallas–Fort Worth metroplex. Located less than 30 miles south of Downtown Dallas and 47 miles from Fort Worth, Waxahachie continues to benefit from its convenient location at the intersection of I-35 and US 287. Waxahachie is located at the crossroads of Interstate 35E and U.S. Highway 287.
Over 80,000 vehicles travel through this intersection daily, making Waxahachie the ideal location for a variety of businesses and industries.
The population at the beginning of 2019 was just over 37,000, with a healthy average growth rate of 4.1% in 2018.
The community’s quality of life is second-to-none with a variety of residential options, excellent education opportunities, convenient shopping and dining, progressive medical care, and quick access to all the metropolitan amenities that the DFW Metroplex has to offer.
Waxahachie is also an attractive tourist destination. The charm of the historic homes and buildings brings thousands of visitors to the city each year. While here, visitors enjoy numerous unique shopping opportunities, including antiques, specialty shops and boutiques. Just a short drive from the Metroplex, Waxahachie also has a number of festivals and events throughout the year for residents and visitors to enjoy.
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