700 West Avenue G
Garland, TX 75040 ·
19 Units · Multifamily For Sale
|No. Units||19||Gross Rent Multiplier||5.44|
|Building Size||9,060 SF||Occupancy||92%|
|Property Type||Multifamily||Year Built||1963|
|Property Sub-type||Garden/Low-Rise||Lot Size||0.74 AC|
|Property Use Type||Investment|
|Listing ID: 14463565||Date Created: 01/13/2006||Last Updated: 05/09/2006|
Prairie Crossing Apartments is a "C" class complex located in Garland, TX. With pitched composition roofs and individual meters, the 1963-built property was ahead of its time. Located in a strong infill location in northeast Dallas county, this property is positioned to thrive in the coming years. Currently, the Garland/Mesquite submarket is #2 in the DFW area in overall occupancy behind Irving/Las Colinas. (***see Marcus & Millichap submarket report).
With solid fundamentals, strong occupancy history, and great upside, Prairie Crossing is an outstanding property for the first-time investor or for the experienced operator.
" Located in Garland, Texas, just northeast of Dallas
" Easy commute to Dallas county employers
" Quiet neighborhood with limited multi-family competition
" Near major Dallas transportation arteries
- Total Return 14.9% (Pro Forma)
- Pro Forma Cap Rate 9.77%
- Great Infill Location
- Ease of Operation
- Significant Upside
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