Crossings — Sale in Garland, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Garland, TX 75042

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Crossings — Sale in Garland, TX, photo 1 of 2
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Description

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. Investment 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 is projected to 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.

Market Context

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