Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of Serena Vista, a 130-unit apartment community located in Garland, Texas. The property offers multiple avenues for value creation, including continuation of a successful interior renovation program across 90 remaining classic units, where upgraded residences currently achieve approximately $100 monthly rent premiums. Additional upside exists through implementation of a bulk cable and internet program projected to generate more than $43,000 in annual net income, as well as the introduction of covered reserved parking to capitalize on demonstrated resident demand. Ownership has already invested approximately $2.26 million in property-wide improvements, including extensive interior and exterior upgrades and a complete rebranding effort, significantly reducing execution risk and near-term capital requirements. Serena Vista also benefits from a desirable unit mix with 64% two- and three-bedroom floor plans and a highly accessible location near Lake Ray Hubbard, Duck Creek Trail, major employers, and key transportation corridors throughout the Dallas-Fort Worth Metroplex.