16-Unit Garden Apartment
223 W 5th St, Irving, TX 75060
For Sale
New
Contact for pricing
Amenities include a pool, shared courtyard, on-site laundry and an all-bills-paid arrangement.
Property Size10,400 SF
Lot Size0.33 Acres
Days on Market6
Property Features for 223 W 5th St
General Information
Standard status
Size
Net Rentable
Total Parking Spaces
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
swimming pool
central courtyard
on-site laundry
16-unit, all-bills-paid community in Irving's historic Downtown Heritage District, near the Heritage Crossing TRE station and a 15-minute drive to Las Colinas.
Immediate lease-up upside: five of 16 units were vacant on the September 2026 rent roll. Leasing to 8.0% vacancy turns a ($29,720) loss into $74,438 in pro forma NOI.
Recent leases have signed at $1,200, above the $1,100 market rent, while occupied units average $1,114 in place.
Expense savings: with payroll, repairs, contract services and water and sewer at market levels, expenses fall from $9,972 to $7,772 per unit.
Building Details
Building Size
Stories
Units
Construction
Listing Agency:
Dallas Office
Listed By:
Matt Waskow
(972) 755-5175
Source:
Marcusmillichap
Added: Nov 8
Last Checked: Nov 12 at 4:19AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story apartment community contains 16 one-bedroom, one-bath residences, each measuring 650 square feet. The units provide 10,400 rentable square feet across a 0.33-acre site. Property amenities include a swimming pool, central courtyard, on-site laundry and 22 parking spaces; the offering is described as all bills paid.
At 223 W 5th Street in Irving, the property is within the city’s Downtown Heritage District, approximately half a mile from City Hall. The September 2026 rent roll showed five vacant apartments.
At 223 W 5th Street in Irving, the property is within the city’s Downtown Heritage District, approximately half a mile from City Hall. The September 2026 rent roll showed five vacant apartments.
Key Highlights
- 16 apartments, each with one bedroom and one bath
- Two‑story garden apartment community with 10,400 rentable square feet
- Each residence measures 650 square feet
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 75060, TX
47,955
Population
15,538
Households
3.1
Avg Household Size
34
Median Age
18%
College-Educated
64%
High-School Grad
12.1 sq mi
ZIP Area
3,963
Density / Sq Mi
$69,708
Median Household Income
$35,508
Median Earnings
$1,367
Median Rent
$224,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Dallas County, TX
Properties on Market for Apartment buildings in Dallas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Amenities include a pool, shared courtyard, on-site laundry and an all-bills-paid arrangement.
Where is this apartment building located?
The property is located at 223 W 5th St Irving, TX.
What are key features of this property?
This property features: 16 apartments, each with one bedroom and one bath; Two‑story garden apartment community with 10,400 rentable square feet; Each residence measures 650 square feet
