Matthews Real Estate Investment Services™ is proud to exclusively present the opportunity to acquire a recently renovated multifamily apartment community with a beautiful location overlooking Lake Ray Hubbard at 4202 Bass Pro Drive, the Cabana Condominiums, in Garland, Texas. Comprising 56 units across seven buildings, the mid-rise community spans a total of 35,490 square feet built in 1983 on a professionally landscaped 2-acre lot. The complex features a great mix of one- and two-bedroom units, including lofts and studio apartments. Twenty of the units have been upgraded, boasting anti-scratch plank flooring, large windows providing abundant natural lighting, and contemporary stainless-steel appliances. The property has undergone significant renovations and will require ~$800,000 to ~$1,250,000 to finish the project, stabilizing over a 10% cap rate. The Cabana Condominiums enjoys a prime location lakeside on Lake Ray Hubbard and adjacent to Interstate 30. Proximity to the interstate delivers strong brand exposure to the community, with more than 155,000 vehicles traveling along the vital artery each day. This stunning location is a hotspot for rental units, neighboring upscale communities such as Lakeview Pointe, Windward II, and Northpoint on the Lake. Heightened demand in the local multifamily submarket provided annual absorption of more than 1,500 units during 2024. With 37% of residents living within three miles currently renting their homes, the area is poised to receive robust continued growth. Just across the I-30 bridge is the site of the incredible Sapphire Bay Development. This billion-dollar mixed-use development will feature the Sapphire Bay Resort, a 6-acre crystal lagoon, a spa, a conference center, 1.4 million square feet of commercial space, and a full-service marina. This incredible new project will provide significant long-term investment and infrastructure to the area, benefitting a new owner of the Cabana Condominiums. Broker of Record Patrick Graham License No. 9005919 (TX) (866) 889-0550 Matthews Real Estate Investment Services, Inc. 8300 Douglas Ave., Ste. 750, Dallas, TX 75225