Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Irving Apartment Community For Sale Title is generated by Realmo AI

    1701 N Britain Rd, Irving, TX 75061

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    72-unit apartment community in Irving, Texas with value-add opportunity.

    Type:Multifamily
    Added:
    Apr 3, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 3 at 5:05 am

    Property Features for 1701 N Britain Rd

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Nick Fluellen

    Listing agent Nick Fluellen License #TX: 0521943, TX: 9001647

    Listing office Dallas Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Dallas Office

    HighLights

    • 72‑unit apartment community
    • Value‑add opportunity through unit modernization to drive rental rate growth
    • Significant capital improvements completed (over $360,000), including chiller system and roof replacements
    • Potential $105,000 in annual expense savings through water conservation program
    • Located near major employment drivers
    • Excellent connectivity and strong regional demand in the Irving submarket

    Overview

    Chivas West is a 72-unit apartment community located in Irving, Texas. The property presents a value-add opportunity for modernization and rental rate growth due to limited interior renovations under long-term ownership. Capital improvements exceeding $360,000 have been completed, including a newly installed chiller system, roof replacements, and exterior upgrades. A water conservation program is projected to generate approximately $105,000 in annual expense savings. The property is positioned near major employment drivers such as the Wells Fargo campus, Frito-Lay, Dr Pepper, and DFW Airport. The location provides strong regional demand and connectivity, making it an attractive investment opportunity in the Irving submarket.
    Location Intelligence

    Current Use by Public Records

    Chivas West Apartments Apartment Building

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irving
    County
    Dallas
    State
    Texas
    Longitude
    -96.9453671
    Latitude
    32.8320825

    Nearby Similar for Sale

    • $599,000

      Dental Office Building with Equipment

      Long-running dental facility with multiple operatories, updated exterior, and included equipment for a user to lease or buy.
      737 Irby Lane, Irving, TX 75061
      View Details
    • $650,000

      Turnkey Office Condo with Furnishings

      Move-in-ready, high-finish one-story suite with private offices and dedicated server room, ideal for owner-users or investors.
      230 O Connor Ridge Boulevard, Irving, TX 75038
      View Details
    • $1,695,000

      Turnkey Auto Repair and Rental Property

      Fully operational auto repair facility with storage, ample parking, and supplemental barbershop income under a month-to-month lease.
      109 N Story Road, Irving, TX 75061
      View Details
    • $1,100,000

      Medical Office Building

      One-story, step-free layout with seven offices, reception features, parking, and three restrooms—suited for accessible medical use.
      1425 N O Connor Road, Irving, TX 75061
      View Details
    • $1,000,000

      Day Care Center with Retail Opportunity

      Two-building corner property with fenced yard and drive-up appeal, zoned for professional office use including day care.
      2105 W Shady Grove Road, Irving, TX 75060
      View Details
    • $2,500,000

      Single-Story Office Building

      Single-story office built in 1982 offering 14,630 SF for sale near major Irving thoroughfares.
      1610 Corporate Court, Irving, TX 75038
      View Details
    • $799,000

      Drive-Through QSR Restaurant

      Second-generation QSR with drive-in canopies and dedicated parking, positioned for efficient service and strong customer throughput.
      1300 Pioneer Drive, Irving, TX 75061
      View Details
    • $389,900
      1,550 SF

      Two-House Income Duplex Opportunity

      Two homes on one lot offer flexible live-in and rental income, with possible upside through zoning change.
      2416 Smith Avenue, Irving, TX 75061
      View Details
    • $1,850,000

      Value-Add Multifamily Portfolio Opportunity

      Ten-unit multifamily with 1-, 2-, and 3-bedroom options, positioned for income growth through targeted improvements.
      1516 W 7th Street, Irving, TX 75060
      View Details
    • $1,900,000

      Multifamily Apartment Community

      Ten-unit, one-story apartment community with private yards and dedicated parking, plus recent roof updates.
      1516 W 7th Street, Irving, TX 75060
      View Details
    • $550,000

      Medical Office Suite with Patient Rooms

      Move-in ready medical office with four patient rooms, lobby, and two bathrooms in a focused healthcare corridor.
      3501 N Macarthur Boulevard, Irving, TX 75062
      View Details
    • $174,500

      Move-In-Ready Condo Investment

      Updated 2-bedroom, 2.5-bath condo in a gated community, positioned for strong rental and owner-occupant flexibility.
      4543 N O Connor Road, Irving, TX 75062
      View Details

    FAQs

    What type of property is this?
    Apartment building - 72-unit apartment community in Irving, Texas with value-add opportunity.
    Where is this apartment building located?
    The property is located at 1701 N Britain Rd Irving, TX.
    What are key features of this property?
    This property features: 72‑unit apartment community; Value‑add opportunity through unit modernization to drive rental rate growth; Significant capital improvements completed (over $360,000), including chiller system and roof replacements
    (972) 755-5214
    We can help!
    Listing Contact
    Nick Fluellen
    Real Estate License ID: TX: 0521943, TX: 9001647
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1701 N Britain Rd, Irving, TX 75061
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!