Property Description Cedar Knoll is a 42-unit Class B apartment community located in Lindale, Texas. This investment opportunity has been well maintained since its original 12 units were constructed in 1983. From 1997 through 1999, 30 units were added. The complex boasts a strong unit mix of 14 one-bedroom/one-bath units ranging from 446 to 644 square feet, 28 two-bedroom/one bath units ranging from 678 to 866 square feet and one rentable office. Physically speaking, Cedar Knoll’s parking surface is completely concrete, all five of its buildings have pitched roofs (one shingle, four metal), the foundation is concrete slab, and 36 of the units have individual air conditioning units, and the remaining six have wall-mounted air conditioners. There is an on-site laundry facility with five washers and six dryers which are owned and operated by an independent contractor and the owner gets a percentage from the income. One of the most attractive features of Cedar Knoll is its location in Lindale, Texas, the limited submarket rental competition and a very beneficial feature is that an extra 12 units that can be added to this already highly successful investment. (See approval from the City of Lindale and site plan under Brochures & Other Documents) Lindale’s official website declares that “(Lindale) is poised for explosive retail and residential growth” and “With an eye toward the future, Lindale is becoming a preferred destination of forward-thinking businesses.” With many other East Texas tertiary markets beginning to make a strong name for themselves, it’s no surprise that Lindale is following suit. There are currently over 30 well known brand businesses within a 1/2 mile radius from Cedar Knoll. (See attached map) Lindale is in one of the top 10 best school districts in East Texas and is one of top reasons why parents want to live at the Cedar Knoll Apartments.
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