526 Walnut Pky, Garland, TX for Sale
Apartments - FOR SALE
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526 Walnut Pky
Garland, TX 75042


HIGHLIGHTS

  • 59-unit enhancement program costs $5,000 per unit and projects an average $82 monthly premium, generating $250,439 in five-year revenue.
  • Reactivating the laundry facility requires $6,000 and will generate $13,800 annually, while covered parking adds $27,300 in recurring annual income.
  • Pro forma NOI increases from $833,624 to $1.03 million, with water savings and lower contract services driving expense reductions.

OVERVIEW

Marcus & Millichap is pleased to present Crossings Garland, a 152-unit value-add multifamily opportunity in Garland, Texas. The investment offers multiple avenues for NOI growth, including a 59-unit interior enhancement program, three additional income-producing units, ancillary income from laundry and covered parking, and approximately $39,336 in projected annual water savings. Ownership has already completed $2.04 million in capital improvements, establishing a foundation for continued value creation. Pro forma NOI is projected at $1.03 million compared with $833,624 currently. The property also benefits from access to I-635 and the President George Bush Turnpike, connecting residents to Richardson, Plano, North Dallas, and downtown Dallas employment centers.

FOR SALE DETAILS

PRICE

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# OF UNITS

152

CAP RATE

Request Cap Rate

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crossings Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

204

LAND DETAILS

LAND ACRES

2.55 AC

LAND SF

111,078 SF

ZONING

Z239

APN/PARCEL ID

26449550010010000

ASK ABOUT THIS PROPERTY

Mark McCoyMarcus & MillichapMore Info

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Mark McCoyMarcus & MillichapMore Info

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