This property is Off-Market

700 West Avenue G
Garland, TX 75040 ·

19 Units · Multifamily For Sale

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Prairie Crossing

Price N/A Cap Rate 9.33%
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

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

Highlights

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

Research

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

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