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Retreat at Lake Highlands 11620 Audelia Rd 127 Unit Apartment Building For Sale Dallas, TX 75243
Investment Highlights
- 34 remaining classic units offer proven renovation upside with projected rent premiums
- Located near Texas Instruments, Medical City Dallas, and the Richardson Telecom Corridor
- Historical occupancy averaging approximately 92% demonstrates durable resident demand
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Retreat at Lake Highlands, a 127-unit apartment community located in Dallas, Texas. The property offers a compelling value-add opportunity through renovation of the remaining 34 classic units, with upgrades projected to achieve meaningful rent premiums while increasing long-term asset value. Additional upside exists through expansion of the existing washer and dryer leasing program, leveraging full-size washer/dryer connections already present in every residence. Retreat at Lake Highlands has historically maintained approximately 92% occupancy, demonstrating stable operations and consistent cash flow performance. The property features a highly desirable unit mix dominated by spacious two-bedroom floor plans averaging 927 square feet with 9-foot ceilings and select vaulted ceilings. Located within the highly regarded Richardson ISD and minutes from Texas Instruments’ global headquarters, Medical City Dallas, Texas Health Presbyterian Hospital, Dallas College Richland Campus, and the Richardson Telecom Corridor, the property benefits from exceptional employment drivers and long-term housing demand fundamentals.
Property Facts
| Sale Type | Investment | Building Size | 117,556 SF |
| No. Units | 127 | Average Occupancy | 87% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1982/2016 |
| Apartment Style | Garden | Parking Ratio | 1.7/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 4.70 AC | ||
| Zoning | Z163 | ||
| Sale Type | Investment |
| No. Units | 127 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.70 AC |
| Building Size | 117,556 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built/Renovated | 1982/2016 |
| Parking Ratio | 1.7/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Z163 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Ceiling Fans
- Crown Molding
- Kitchen
Site Amenities
- Business Center
- Picnic Area
- Pool
- Property Manager on Site
- Gated
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 700 |
| 2+1 | 31 | - | 867 |
| 2+1.5 | 32 | - | 1,078 |
| 2+2 | 32 | - | 1,061 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 00000787222000000 | Improvements Assessment | $20,634,167 CAD |
| Land Assessment | $1,158,373 CAD | Total Assessment | $21,792,540 CAD |
Property Taxes
Parcel Number
00000787222000000
Land Assessment
$1,158,373 CAD
Improvements Assessment
$20,634,167 CAD
Total Assessment
$21,792,540 CAD
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Retreat at Lake Highlands | 11620 Audelia Rd
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