Multifamily
Reserve at Lake Highlands
11601 Audelia Rd, Dallas, TX 75243
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of The Reserve at Lake Highlands, a well-maintained 152-unit Class B community built in 1980 in Dallas, Texas. The property features $1.85 million in recent capital improvements, with approximately 70 percent of units upgraded with granite countertops, stainless steel appliances, and tiled backsplashes. Spacious two-bedroom floor plans averaging over 1,000 square feet appeal to families within the highly-rated Richardson ISD. Located in one of Northeast Dallas' most supply-constrained submarkets, the asset benefits from immediate access to I-635 and US-75, proximity to Texas Instruments' global headquarters and Texas Health Presbyterian Hospital, and the transformative $300 million Lake Highlands Town Center redevelopment. With clear operational upside through utility reimbursement optimization and completion of remaining unit renovations, the property offers compelling value creation potential.
Reserve at Lake Highlands
Investment Highlights
- Well-Located Class B Asset with $1.85M in Recent CapEx – Significant capital investment providing foundation for continued revenue growth
- ~70% of Units Already Renovated with Modern Finishes – 108 units upgraded with granite countertops, stainless appliances, and tiled backsplashes
- Supply-constrained submarket near Texas Instruments HQ, Dallas College Richland, and $300M Town Center redevelopment
Listing Price: Request For Offer
Investment Highlights
- Well-Located Class B Asset with $1.85M in Recent CapEx – Significant capital investment providing foundation for continued revenue growth
- ~70% of Units Already Renovated with Modern Finishes – 108 units upgraded with granite countertops, stainless appliances, and tiled backsplashes
- Supply-constrained submarket near Texas Instruments HQ, Dallas College Richland, and $300M Town Center redevelopment
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of The Reserve at Lake Highlands, a well-maintained 152-unit Class B community built in 1980 in Dallas, Texas. The property features $1.85 million in recent capital improvements, with approximately 70 percent of units upgraded with granite countertops, stainless steel appliances, and tiled backsplashes. Spacious two-bedroom floor plans averaging over 1,000 square feet appeal to families within the highly-rated Richardson ISD. Located in one of Northeast Dallas' most supply-constrained submarkets, the asset benefits from immediate access to I-635 and US-75, proximity to Texas Instruments' global headquarters and Texas Health Presbyterian Hospital, and the transformative $300 million Lake Highlands Town Center redevelopment. With clear operational upside through utility reimbursement optimization and completion of remaining unit renovations, the property offers compelling value creation potential.
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