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Serena Vista 4328 Duck Creek Dr 130 Unit Apartment Building For Sale Garland, TX 75043
Investment Highlights
- $2.26 million in recent capital improvements significantly reduces near-term capital requirements
- Located near Lake Ray Hubbard, Duck Creek Trail, and major regional employment centers
- 90 remaining classic units plus covered parking and bulk internet programs create substantial value-add upside
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Serena Vista, a 130-unit apartment community located in Garland, Texas. The property offers multiple avenues for value creation, including continuation of a successful interior renovation program across 90 remaining classic units, where upgraded residences currently achieve approximately $100 monthly rent premiums. Additional upside exists through implementation of a bulk cable and internet program projected to generate more than $43,000 in annual net income, as well as the introduction of covered reserved parking to capitalize on demonstrated resident demand. Ownership has already invested approximately $2.26 million in property-wide improvements, including extensive interior and exterior upgrades and a complete rebranding effort, significantly reducing execution risk and near-term capital requirements. Serena Vista also benefits from a desirable unit mix with 64% two- and three-bedroom floor plans and a highly accessible location near Lake Ray Hubbard, Duck Creek Trail, major employers, and key transportation corridors throughout the Dallas-Fort Worth Metroplex.
Property Facts
| Sale Type | Investment | Building Size | 114,962 SF |
| No. Units | 130 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1986/2007 |
| Apartment Style | Garden | Parking Ratio | 2.19/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 7.19 AC | ||
| Zoning | PD | ||
| Sale Type | Investment |
| No. Units | 130 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 7.19 AC |
| Building Size | 114,962 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2007 |
| Parking Ratio | 2.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | PD |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Ceiling Fans
- Refrigerator
- Tub/Shower
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Gated
- Basketball Court
- Cabana
- Laundry Service
- Recycling
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 48 | - | 600 - 700 |
| 2+2 | 50 | - | 881 - 1,000 |
| 3+2 | 32 | - | 1,104 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 26180460020230000 | Improvements Assessment | $15,260,540 |
| Land Assessment | $939,460 | Total Assessment | $16,200,000 |
Property Taxes
Parcel Number
26180460020230000
Land Assessment
$939,460
Improvements Assessment
$15,260,540
Total Assessment
$16,200,000
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