Marcus & Millichap Sells Lakefront Villas Multifamily Community In Richardson With Al Silva & Ford Braly

The property involved in the transaction is Lakefront Villas, a multifamily community consisting of 105 units spread across 11 buildings, located at 900 West Spring Valley Road in Richardson. This asset encompasses nearly 6 acres and was built in 1968. The community offers features such as large units, fireplaces, and amenities including a pool, clubhouse, and fitness center. The new owner is set to enhance the property by adding cable and internet services throughout the premises and offering washer/dryer rentals to increase revenue.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Units: 105
• Acres: 6
• Address: 900 West Spring Valley Road
• Market: Richardson
• Brokers: Al Silva & Ford Braly - Marcus & Millichap

Al Silva and Ford Braly represented the local operator seller in this transaction, securing a private investor as the buyer. The brokerage firm involved in the closing of this transaction is Marcus & Millichap, which facilitated the sale in a strategic manner to match the seller with the appropriate buyer.