Huntington Ridge is a luxury-style apartment community in Desoto, a thriving community south of Dallas. It features a resort-style pool with lounge area, total-body fitness center, business center, coffee bar, jogging trail, picnic area with grills, and garages.
The South Dallas Submarket is home to one of the fastest-growing industrial distribution centers in the country with warehouse jobs being added at a rapid pace. The population growth has led to a steady apartment demand. Vacancies are near record lows and rent growth has outperformed historical norms in recent years. Rent increases on newly renovated assets usually outpace submarket average rent growth. Rent growth in this area is 3.9% and occupancy rates are at 96%
Half of the units will receive an interior upgrade which includes new cabinet fronts and pulls, new plank flooring, new laminate countertops, stainless steel appliances, updated lighting and fixtures, as well as a technology package that includes Nest thermostats or Bluetooth locks, smart lighting, and USB outlets in the living room. The upgrades at Huntington Ridge are expected to garner a $150 premium on average. Additionally, 55 fenced yards and 99 washer and dryer sets, and a valet trash service will be added at the property.