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1002 Edmonds LnLewisville, TX 75067
Vistas on the Park
Asset ClassMultifamily
overview of deal

Overview

Marcus & Millichap is pleased to present the exclusive listing of Vistas on the Park, a 288-unit multifamily community located in Lewisville, Texas. The property presents a compelling value-add opportunity with more than $291,000 in projected annual NOI growth through a combination of insurance expense reductions, water conservation initiatives, implementation of a reserved parking program, and strategic interior enhancements featuring smart-home technology and resident-focused upgrades. These operational improvements have the potential to create millions in additional asset value while requiring relatively modest capital investment. Ideally positioned within the North Dallas growth corridor, Vistas on the Park benefits from exceptional access to DFW International Airport, the Lewisville Medical District, and numerous major employment centers, supporting long-term occupancy and rent growth.

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Investment Highlights

Over $291K in Annual NOI Opportunity $4.85MM in Value at a 6% Cap (Supported by Quotes in Hand)

 

Strategic Interior Enhancement Opportunity Modernize Units with Smart-Home Technology and Cost-Effective Resident-Focused Upgrades

 

Introduce $28.8K Reserved Parking Program Create a New Ancillary Revenue Stream with Minimal Upfront Capital Investment

 

Immediate Insurance Expense Reduction Opportunity Potential $216K Annual Savings Creates More Than $3.6 Million in Value at a 6% Cap Rate

 

Water Conservation Program with Meaningful Cost Savings Potential to Reduce Annual Water Expense by More Than $47K Through Efficiency Upgrades

 

Prime Lewisville Location in the North Dallas Growth Corridor Minutes from Major Employment Centers, DFW Airport, and Lewisville Medical District

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1002 Edmonds LnLewisville, TX 75067

Contact

Bard HooverSenior Managing Director Investments

License #: TX 610697

(972) 755-5216Bard.Hoover@MarcusMillichap.com
Shaun KennedyShaun Kennedy

License #: TX 823164

(972) 755-5129Shaun.Kennedy@MarcusMillichap.com
Nick Fluellen, CCIMExecutive Managing Director Investments

License #: TX 0521943

(972) 755-5214Nick.Fluellen@MarcusMillichap.com
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