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.
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
License #: TX 610697
(972) 755-5216Bard.Hoover@MarcusMillichap.comLicense #: TX 0521943
(972) 755-5214Nick.Fluellen@MarcusMillichap.com