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Vistas on the Park 1002 S Edmonds Ln 288 Unit Apartment Building For Sale Lewisville, TX 75067
Investment Highlights
- $173K annual insurance savings opportunity equates to more than $3 million in value creation
- Prime Lewisville location near DFW Airport, Medical City Lewisville, and major corporate employers
- Additional upside through water conservation, expense optimization, and reserved parking income
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Vistas on the Park, a 288-unit apartment community located in Lewisville, Texas. The property offers multiple avenues for immediate value creation, highlighted by a significant insurance expense reduction opportunity that could lower annual premiums by approximately $173,000 and create more than $3 million in value when capitalized. Additional upside exists through operational expense optimization, implementation of a water conservation program projected to reduce annual expenses by more than $47,000, and the introduction of a reserved parking program to generate new ancillary income. New ownership can further enhance the asset through strategic interior improvements including smart-home technology and resident-focused upgrades. Positioned in the heart of the North Dallas growth corridor, Vistas on the Park benefits from proximity to Medical City Lewisville, DFW International Airport, major corporate employment centers, Lewisville Lake, and affluent surrounding demographics, creating a compelling long-term investment opportunity.
Property Facts
| Sale Type | Investment | Lot Size | 14.73 AC |
| No. Units | 288 | Building Size | 234,000 SF |
| Property Type | Multifamily | Average Occupancy | 89% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1975 |
| Building Class | B | Parking Ratio | 2.34/1,000 SF |
| Zoning | 6F | ||
| Sale Type | Investment |
| No. Units | 288 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 14.73 AC |
| Building Size | 234,000 SF |
| Average Occupancy | 89% |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 2.34/1,000 SF |
| Zoning | 6F |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Property Manager on Site
- Basketball Court
- Grill
- Laundry Service
- Package Service
- Pet Play Area
- Car Charging Station
- Lounge
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 114 | - | 594 - 657 |
| 2+1 | 174 | - | 753 - 864 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $26,884,504 | |
| Land Assessment | $5,134,496 | Total Assessment | $32,019,000 |
Property Taxes
Parcel Numbers
Land Assessment
$5,134,496
Improvements Assessment
$26,884,504
Total Assessment
$32,019,000
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