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High-Yield Multifamily Investment with Upside 3410 Fordham Rd 136 Apartment Units Online Auction Sale Dallas, TX 75216
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Investment Highlights
- Bonita Gardens offers a 136-unit multifamily investment property in Dallas, Texas, currently 92% occupied with stable in-place rental revenue.
- Significant upside potential to renovate units as they vacate, fill remaining vacancies, and bring rents in line with market trends.
- Growing 3-mile population of more than 75,000, with over 53% of residents renting their homes, providing consistent leasing demand.
- With a majority of two-bedroom units, the community attracts a dependable renter base of commuting professionals and young families.
- Convenient access to Interstate 45 positions the property within a short drive of quality urban amenities, major job centers, and Downtown Dallas.
- Residents within a 3-mile radius produced more than $537 million in annual spending, with over $143 million spent on housing costs.
Executive Summary
THE PROPERTY
Bonita Gardens is a 136-unit multifamily community constructed in 1974 and located in Dallas, Texas. With six buildings on 4.5 acres, the asset offers an attractive unit mix with 78% two-bedroom floor plans averaging 762 square feet, appealing to workforce renters and families. Displaying stable historical operations, the property is currently 93% occupied and has already benefited from nearly $500,000 in recent capital improvements, including new roofs on four buildings, fencing, lighting, unit upgrades and water conservation among other capital expenses listed in the deal room.
THE OPPORTUNITY
Bonita Gardens represents an opportunity to acquire a stabilized, income-producing multifamily asset offering durable in-place cash flow. The property is currently 93% occupied, in line with submarket performance, and benefits from prior ownership capital investment, reducing near-term capital expenditure requirements. While select units remain modestly below market rents, the investment thesis is primarily yield-driven, providing the ability to generate attractive current income with incremental upside through a measured and non-disruptive rent growth strategy.
THE LOCATION
Located in Dallas within the established Cedar Crest submarket, offering residents direct access to the Dallas CBD, Medical District, and major employment corridors within a 10–15 minute commute. The area functions as a durable workforce housing hub, drawing demand from a diversified employment base spanning healthcare, logistics, education, professional services, and government sectors across the broader Dallas–Fort Worth Metroplex. Proximity to neighborhood retail, parks, and DART rail connectivity enhances livability while supporting consistent renter demand. Ongoing public and private investment initiatives in South Dallas further reinforce long-term stability, positioning the location as a defensible, infill submarket within a high-growth Sunbelt metro.
FINANCING
The asset is being offered free and clear of existing debt with strong preference given to all-cash purchasers, allowing for certainty of close,
accelerated execution, and reduced transaction risk.
Bonita Gardens is a 136-unit multifamily community constructed in 1974 and located in Dallas, Texas. With six buildings on 4.5 acres, the asset offers an attractive unit mix with 78% two-bedroom floor plans averaging 762 square feet, appealing to workforce renters and families. Displaying stable historical operations, the property is currently 93% occupied and has already benefited from nearly $500,000 in recent capital improvements, including new roofs on four buildings, fencing, lighting, unit upgrades and water conservation among other capital expenses listed in the deal room.
THE OPPORTUNITY
Bonita Gardens represents an opportunity to acquire a stabilized, income-producing multifamily asset offering durable in-place cash flow. The property is currently 93% occupied, in line with submarket performance, and benefits from prior ownership capital investment, reducing near-term capital expenditure requirements. While select units remain modestly below market rents, the investment thesis is primarily yield-driven, providing the ability to generate attractive current income with incremental upside through a measured and non-disruptive rent growth strategy.
THE LOCATION
Located in Dallas within the established Cedar Crest submarket, offering residents direct access to the Dallas CBD, Medical District, and major employment corridors within a 10–15 minute commute. The area functions as a durable workforce housing hub, drawing demand from a diversified employment base spanning healthcare, logistics, education, professional services, and government sectors across the broader Dallas–Fort Worth Metroplex. Proximity to neighborhood retail, parks, and DART rail connectivity enhances livability while supporting consistent renter demand. Ongoing public and private investment initiatives in South Dallas further reinforce long-term stability, positioning the location as a defensible, infill submarket within a high-growth Sunbelt metro.
FINANCING
The asset is being offered free and clear of existing debt with strong preference given to all-cash purchasers, allowing for certainty of close,
accelerated execution, and reduced transaction risk.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Completed Capital Expenditures
- Purchase Agreement
- Third Party Reports
- Survey
- Title and Insurance
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 4.46 AC |
| Type of Ownership | Fee Simple | Building Size | 100,524 SF |
| No. Units | 136 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1974/2011 |
| Apartment Style | Garden | Parcel Number | 00861700170010000 |
| Zoning | MF-2(A), Dallas | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 136 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.46 AC |
| Building Size | 100,524 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2011 |
| Zoning | MF-2(A), Dallas |
| Parcel Number | 00861700170010000 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Corporate Suites
- Basketball Court
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Sale Advisors
Sale Advisors
Andrew Mueller, Director
Experience and Recognition
Previous Analyst at a national real estate services firm, responsible for tracking and analyzing multifamily investment trends in Texas
Greysteel Emerging Leader - 2017
Promoted to Director - 2019
Expertise
Specializes in multifamily property transactions and serves as a primary point of contact for all clients interested in the Dallas-Fort Worth MSA
Responsible for start-to-finish deal execution, contract negotiations, underwriting, and primary market research
Education and Licenses
Texas Christian University: B.S. in Economics
Licensed sales agent in Texas
Interests
Snowboarding, mountain biking, and supporting TCU football
Previous Analyst at a national real estate services firm, responsible for tracking and analyzing multifamily investment trends in Texas
Greysteel Emerging Leader - 2017
Promoted to Director - 2019
Expertise
Specializes in multifamily property transactions and serves as a primary point of contact for all clients interested in the Dallas-Fort Worth MSA
Responsible for start-to-finish deal execution, contract negotiations, underwriting, and primary market research
Education and Licenses
Texas Christian University: B.S. in Economics
Licensed sales agent in Texas
Interests
Snowboarding, mountain biking, and supporting TCU football
Doug Banerjee, Senior Managing Director
Several years of multifamily experience with a national real estate services firm, focusing exclusively on advisory and disposition services for multifamily property owners in the South Central United States
Over six years as a consultant for two top consulting firms in the world, Accenture and Deloitte. Douglass serves as the primary point of client contact for Greysteel’s Texas-based multifamily investment sales division
Responsible for start-to-finish deal execution on private capital and middle-market multifamily property transactions with a specific focus on the Greater Dallas submarkets.
Over six years as a consultant for two top consulting firms in the world, Accenture and Deloitte. Douglass serves as the primary point of client contact for Greysteel’s Texas-based multifamily investment sales division
Responsible for start-to-finish deal execution on private capital and middle-market multifamily property transactions with a specific focus on the Greater Dallas submarkets.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
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Videos
Matterport 3D Exterior
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Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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High-Yield Multifamily Investment with Upside | 3410 Fordham Rd
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