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Casas Unicas

2728 North Buckner Boulevard, Dallas, Texas 75228

Units: 54

Acquisition Date: March 5, 2021

Disposition Date: June 10, 2022

Hold Period: 16 months

Invested Capital: $1,850,000

Investor Equity Multiple: 1.93x

Investor Internal Rate of Return: 70%

Casas Unicas is a 54-unit townhome community in Dallas, Texas, originally constructed in 1968.  At takeover in March 2021, in-place rents averaged $976 per unit.  Through 16 months of ownership, modest unit rehabilitations were performed alongside operational improvements to raise in-place rents to $1,117 per unit (14.4%) upon disposition.


Along with the rental rate increases, all leases were converted from an “all utility bills paid” structure to having the residents reimburse the property for their portion of these utility bills.  Residents also began paying for reserved parking and unit patios.  The last month before takeover, the property collected $55,410 in total revenue.  At the month of disposition, the total revenue collected was $65,216, a 17.7% increase through ownership.


While initially projected as a five-year hold, investors received a 93% total return on their capital contribution, a 70% internal rate of return (IRR), after only 16 months.

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