Vista Azul — Sale in Dallas, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Dallas, TX 75220

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Vista Azul — Sale in Dallas, TX, photo 2 of 2

Description

Marcus & Millichap is pleased to present Vista Azul, a 246-unit multifamily property in Dallas, Texas, offering a compelling value-add opportunity through improved occupancy, below-market rents, and operational efficiencies. Current occupancy of approximately 80% trails the 90.2% Northwest Dallas submarket standard, while one-bedroom rents are approximately $123 below market. Current ownership has invested approximately $3.3 million in capital improvements, positioning new ownership to focus on revenue and operational upside. Pro forma underwriting projects $1.17 million in NOI compared to $423,000 currently. Vista Azul also benefits from proximity to major employment anchors including UT Southwestern Medical Center, Southwest Airlines, and Parkland Health, as well as Dallas Love Field and major regional transportation routes. Investment Highlights: • • Approximately 80% occupied versus 90.2% Northwest Dallas submarket occupancy, creating a clear path to stabilized occupancy. • • Current ownership has invested approximately $3.3MM in capital improvements, including HVAC, boilers, electrical panels, and roofing. • Pro forma NOI of $1.17MM versus $423K current NOI, supported by occupancy, rent, and operational improvements.

Market Context

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