Bella Vista Park
Multifamily | 158 Units
Marketing description
Bella Vista Park Apartments is a 158-unit, garden-style community in Dallas’ East Dallas submarket, offering a mix of one-, two-, and three-bedroom units tailored to workforce housing demand. Built in 1968, the property features practical amenities including a pool, controlled access, laundry facilities, and spacious floor plans with modernized interiors.
The asset presents a compelling value-add opportunity in a supply-constrained corridor, with upside driven by interior upgrades and operational improvements. Located along North Buckner Boulevard with access to I-30 and Loop 12, and near White Rock Lake and Dallas Arboretum and Botanical Garden, the property benefits from strong renter demand, connectivity to major employment hubs, and a clear path to a stabilized $1.29M NOI independent of market rent growth.
Investment highlights
- Zero New Supply. Three Major Demand Anchors: Baylor Scott & White (4,500 employees), Skyline Industrial (2,000+ workers), Eastfield College (16,000 students) — all within minutes. Direct I-30/I-635 access. No new multifamily construction in the corridor.
- $3.25M Invested: Roofs, HVAC, windows on 50% of units, foundation repairs, fencing. The heavy capital has been invested.
- $419K Revenue Upside. No Renovation Required: Filling existing units from 77% to 93% occupancy at in-place rents adds ~$419K in gross revenue. Seven offline townhomes are the bonus, largest units and highest rent on the property once rehabbed.
- Lender-Owned Asset: Prior owner lost it at 60% occupancy. Lender foreclosed, spent $1M, and has been leasing from the mid-50s to the current occupancy. A new owner is able to take advantage of the leasing momentum.
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