1002 S Edmonds Ln, Lewisville, TX for Sale
Apartments - FOR SALE
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1002 S Edmonds Ln
Lewisville, TX 75067
Lewisville/Flower Mound


HIGHLIGHTS

  • $173K annual insurance savings opportunity equates to more than $3 million in value creation
  • Additional upside through water conservation, expense optimization, and reserved parking income
  • Prime Lewisville location near DFW Airport, Medical City Lewisville, and major corporate employers

OVERVIEW

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.

FOR SALE DETAILS

PRICE

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# OF UNITS

288

CAP RATE

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% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vistas on the Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

300

LAND DETAILS

LAND ACRES

14.73 AC

LAND SF

641,639 SF

ZONING

6F

APN/PARCEL ID

R12321,R12324,R189142,R189143

ASK ABOUT THIS PROPERTY

Mark McCoyMarcus & MillichapMore Info

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Mark McCoyMarcus & MillichapMore Info

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