Multifamily
Hawthorn
250 Municipal Dr, Richardson, TX 75080
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of Hawthorn, a 72-unit extended stay hotel built in 1982 and located in Richardson, TX. The property offers a proven value-add opportunity to convert to traditional multifamily, with a nearby comp achieving $2.93/SF post-conversion. A full renovation bid from Unity Construction provides clear visibility into project execution, with ~$36K per unit allocated for upgrades. Existing amenity spaces including a full lobby, gym, and outdoor pool offer unique reimagining potential. Hawthorn is surrounded by high-paying jobs, top-ranked schools, and major corporate hubs such as Texas Instruments and CityLine. The site is also walkable to retail and offers immediate highway and DART access. Offered free and clear, the property allows for new debt placement with attractive interest-only terms.
Listing Price: Request For Offer
Investment Highlights
- Reposition the hotel into long-term multifamily with nearby comps achieving $2.93/SF rents.
- High-income neighborhood with direct access to Richardson ISD and J.J. Pearce High School.
- Property is offered debt-free with new financing and I/O payment terms available.
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of Hawthorn, a 72-unit extended stay hotel built in 1982 and located in Richardson, TX. The property offers a proven value-add opportunity to convert to traditional multifamily, with a nearby comp achieving $2.93/SF post-conversion. A full renovation bid from Unity Construction provides clear visibility into project execution, with ~$36K per unit allocated for upgrades. Existing amenity spaces including a full lobby, gym, and outdoor pool offer unique reimagining potential. Hawthorn is surrounded by high-paying jobs, top-ranked schools, and major corporate hubs such as Texas Instruments and CityLine. The site is also walkable to retail and offers immediate highway and DART access. Offered free and clear, the property allows for new debt placement with attractive interest-only terms.
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