Listed by Marcus & Millichap - Dallas
Unpriced
Mayridge South Apartments
Details
APN R073887280
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,182
Units 40
Cap Rate 7.00%
NOI $175,601
Occupancy 90%
Tenancy Multi
Pro-Forma NOI $175,601
Class C
Year Built 1972
Year Renovated 2025
Buildings 5
Stories 2
Acreage 0.960
Zoning MF
Parking Spaces 99 spaces
Parking Per SqFt 6.12
Investment Type Stabilized
Multifamily | 25 Units
Marketing description
Mayridge South is a fully renovated and stabilized 24-unit apartment community plus 1 single-family home offering immediate, durable cash flow. Ownership has invested approximately $648,000 in comprehensive property improvements, resulting in one of the most attractive interior finish-outs among comparable assets in the submarket. Unit interiors feature black appliances, faux wood flooring, modern shaker-style cabinet fronts, brushed nickel hardware, and designer two-tone paint. These recent upgrades position the property to maintain strong occupancy while reducing near-term turnover costs for a new owner.
Investment highlights
- Fully Renovated, Stabilized Turnkey Asset - $648K in Capital Improvements with Attractive Interior Finishes
- Value-Add Opportunity Through Laundry and Storage Conversion - Multiple Ancillary Income Streams with Attractive Return Profile
- Additional Income from Adjacent Single-Family Home - 1,008 SF House with Potential to Generate ~$1,400/Month
- Amenity Enhancement Opportunity - Activate Central Courtyard to Drive Resident Satisfaction and Retention
Listing Contacts
Listed by Marcus & Millichap - Dallas
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$175,601.00
$14,633.42/mo
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