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The Reserve at Lake Highlands 11601 Audelia Rd 152 Unit Apartment Building For Sale Dallas, TX 75243
Investment Highlights
- Well-Located Class B Asset with $1.85M in Recent CapEx
- Spacious Floor Plans Ideal for Families
- ~70% of Units Already Renovated with Modern Finishes
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of The Reserve at Lake Highlands, a well-maintained 152-unit Class B apartment community built in 1980 and located in Dallas, Texas. The property has benefited from $1.85 million in recent capital improvements, with approximately 70% 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. Situated in one of Northeast Dallas’ most supply-constrained submarkets, the asset offers immediate access to I-635 and US-75, proximity to Texas Instruments’ global headquarters and Texas Health Presbyterian Hospital, and exposure to 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 presents a compelling value-add investment opportunity.
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Property Facts
| Sale Type | Investment | Lot Size | 6.97 AC |
| No. Units | 152 | Building Size | 127,408 SF |
| Property Type | Multifamily | Average Occupancy | 85% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1980/2019 |
| Building Class | B | Parking Ratio | 1.66/1,000 SF |
| Zoning | MF1A | ||
| Sale Type | Investment |
| No. Units | 152 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 6.97 AC |
| Building Size | 127,408 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2019 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | MF1A |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
- Den
- Dining Room
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Spa
- Gated
- Laundry Service
- Package Service
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 104 | - | 732 - 770 |
| 2+2 | 48 | - | 1,024 |
Property Taxes
| Parcel Number | 0080940A0001A0000 | Improvements Assessment | $25,138,902 CAD |
| Land Assessment | $1,245,164 CAD | Total Assessment | $26,384,066 CAD |
Property Taxes
Parcel Number
0080940A0001A0000
Land Assessment
$1,245,164 CAD
Improvements Assessment
$25,138,902 CAD
Total Assessment
$26,384,066 CAD
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The Reserve at Lake Highlands | 11601 Audelia Rd
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