Garland Multifamily Investment
For Sale
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3100 W Walnut St, Garland, TX 75042
230-unit apartment community in Garland, Texas with value-add potential.
Lot Size7.38 Acres
Days on Market119
Property Features for 3100 W Walnut St
General Information
Standard status
Active
Lot size
7.38 Acres
Property subtype
Multifamily
Listing Agency:
Fort Worth Office
(817) 932-6134
Listed By:
Al Silva · License #License(s): TX: 520157-SA
(817) 932-6134
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 10
Last Checked: Jul 30 at 2:28AM
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 Fort Worth Office
Investment Insights
Based on property information with market context.
Solana is a 230-unit apartment community in Garland, Texas, situated on Walnut Street. The property benefits from a location with a one-mile median income of nearly $60,000 and proximity to over 38,000,000 square feet of industrial and distribution warehouses that are 93% leased. The property, built in phases between 1963 and 1965, sits on 7.38 acres and consists of 11 buildings with brick veneer and siding, pitched composition shingle roofs, and one building with flat roofs. The roofs were replaced in 2018. The property is heated and cooled by two chillers, both replaced since 2022. Resident amenities include two swimming pools, laundry centers, and community areas, and the property backs up to Montgomery Park. Walnut Glen Academy is a short walk away. The current ownership has invested over $4.2MM ($18,000+/unit) into Solana since 2022, including major interior and exterior improvements, substantial plumbing fixes and new HVAC systems. A new investor has the opportunity to be the third owner of this asset in a reliable workforce submarket. The current upgrade program (flooring, cabinets, quartz countertops, sinks, and a component package) the seller has implemented proves out higher rents of between $40 and $99 for select floorplans. The asset is being offered free and clear of existing debt up to 75% loan to cost.
Key Highlights
- Significant value‑add opportunity through operational improvements and bringing occupancy back to submarket averages, potentially increasing NOI by $200,000+.
- Recent $4.2MM investment in interior/exterior improvements, plumbing, and HVAC systems minimizes immediate capital expenditure needs.
- Strong location in Garland, TX with a robust employment base and high occupancy rates.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 75042, TX
39,148
Population
11,791
Households
3.3
Avg Household Size
33
Median Age
16%
College-Educated
69%
High-School Grad
7.6 sq mi
ZIP Area
5,151
Density / Sq Mi
$63,531
Median Household Income
$32,476
Median Earnings
$1,336
Median Rent
$221,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 230-unit apartment community in Garland, Texas with value-add potential.
Where is this apartment building located?
The property is located at 3100 W Walnut St Garland, TX.
What are key features of this property?
This property features: Significant value‑add opportunity through operational improvements and bringing occupancy back to submarket averages, potentially increasing NOI by $200,000+.; Recent $4.2MM investment in interior/exterior improvements, plumbing, and HVAC systems minimizes immediate capital expenditure needs.; Strong location in Garland, TX with a robust employment base and high occupancy rates.
