Parkwood Apartments 325 E Phillips St Immeuble residentiel 28 lots À vendre Richardson, TX 75081

Summary:
The Multifamily Group is pleased to present the exclusive offering of Parkwood, a unique, value-add opportunity in Richardson, Texas. Built in 1956, the property features 28 units, each measuring 800 square feet and configured with a two-bedroom floorplan. The property is currently 100% occupied and is being offered free and clear of existing debt.
Value-Add:
- Renovate the 11 classic units for an additional ~15% NOI increase.
- Offer tenants the option to reserve parking spaces for a monthly fee.
- The CSC laundry contract will expire in 2027 and should be changed for a more profitable one or purchase coin operated units. The owner estimated CSC paid laundry income was $54 for 2024.
- Reduce the water bills by implementing a water conservation program. (See SWC quote on pages 9-10)
- Implement miscellaneous bill-back for fees such as pest control, reserved parking, month-to-month, and trash.
Location:
The Parkwood Apartments offer an unbeatable location in one of North Texas’s most desirable and fast-growing communities. Situated just minutes from Interstate-75, Parkwood provides residents with convenient access to the entire Dallas-Fort Worth metroplex and is surrounded by major retailers like Target and Walmart, as well as popular local spots including Free Play Arcade and a wide range of restaurants and shopping options. Richardson is a city on the rise, anchored by the renowned Telecom Corridor, home to industry leaders like Texas Instruments, Samsung, Raytheon, and State Farm, and strengthened by a robust job market, award-winning schools, and the presence of the University of Texas at Dallas. The city’s proactive economic development has drawn major investments, including a new GEICO facility bringing over 1,000 jobs by fall 2025. Cultural and lifestyle amenities continue to expand, with the revitalized CORE District offering dining and entertainment, and the upcoming UTD/Synergy Park station on DART’s Silver Line promising even greater connectivity.