Historical Multifamily Sale Listing - Prairie Crossing

Multifamily For Sale

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Prairie Crossing

700 West Avenue G, Garland, TX 75040

N/A

19 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
19
Building Size:
9,060 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.33%
Gross Rent Multiplier:
5.44
Occupancy:
92%
Year Built:
1963
Lot Size:
0.74 AC
Listing ID
14463565
Last Updated
over 1 year ago

Highlights

  • Total Return 14.9% (Pro Forma)
  • Pro Forma Cap Rate 9.77%
  • Great Infill Location
  • Ease of Operation
  • Significant Upside

Description

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

Map of 700 West Avenue G, Garland, TX 75040 (Dallas County)

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