Reserve At Lake Highlands — Sale in Dallas, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Dallas, TX 75243

Description

Marcus & Millichap is pleased to present the exclusive listing of The Reserve at Lake Highlands, a well-maintained 152-unit Class B community built in 1980 in Dallas, Texas. The property features $1.85 million in recent capital improvements, with approximately 70 percent of units upgraded with granite countertops, stainless steel appliances, and tiled backsplashes. Spacious two-bedroom floor plans averaging over 1,000 square feet appeal to families within the highly-rated Richardson ISD. Located in one of Northeast Dallas' most supply-constrained submarkets, the asset benefits from immediate access to I-635 and US-75, proximity to Texas Instruments' global headquarters and Texas Health Presbyterian Hospital, and the transformative $300 million Lake Highlands Town Center redevelopment. With clear operational upside through utility reimbursement optimization and completion of remaining unit renovations, the property offers compelling value creation potential. Investment Highlights: • ~70% of Units Already Renovated with Modern Finishes – 108 units upgraded with granite countertops, stainless appliances, and tiled backsplashes • Supply-constrained submarket near Texas Instruments HQ, Dallas College Richland, and $300M Town Center redevelopment

Market Context

This multifamily in Dallas, TX is listed for sale. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Dallas, TX — view the full market.

As of Q1 2026, the Dallas / Fort Worth multifamily market showed average asking rents near $2832.00/unit/mo, rents up 0.8% year over year, and cap rates around 5.7%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Dallas / Fort Worth?
About 5.7% as of Q1 2026, per multiple brokerage reports.

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