This Multifamily Property is Off-Market.

217 W. I-30
Garland, TX 75043 ·

48 Units · Multifamily For Sale

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Castle Glen

Price N/A Property Use Type Investment
No. Units 48 Cap Rate 9.64%
Building Size 40,768 SF No. Stories 2
Property Type Multifamily Year Built 1983
Property Sub-type Garden/Low-Rise
Listing ID: 18385218 Date Created: 10/03/2013 Last Updated: 08/06/2014

Description

The 4 buildings on the property all have stucco exterior, pitched roofs, and concrete parking lots. The complex is comprised of 48 units
with 16-1 bdrm/1 bath (700 sq ft) and 32-2 bdrm/2 bath (960 sq ft) units. Some units come with fireplaces, washer/dryer hook ups, and
walk in closets. Each unit is individually metered for tenants to pay for electricity and the owner is gradually converting all tenants to pay
utilities.

This two-story apartment community was built in 1983 and sits on 3.04 acres of land fronting Interstate 30 in the East Dallas/Garland
submarket. Castle Glen is conveniently located in east Dallas approximately 30 minutes from Love Field and 40 minutes from DFW Airport.

Highlights

  • 48 Units and 93% Occupied
  • 8.73% Cap Rate
  • Convenient Highway Access; 153,000+ VPD
  • Individually Metered; Electric and Water paid by tenant
  • Purchase as stabilized C or capture potential upside
  • Upside via amenity improvement and rental increase

Research

217 W. I-30, Garland, TX 75043 (Dallas County)

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