subject: Recent Apartment Sales In Dallas [print this page] Real Estate remarks a measurable change in the market conditions prevailing in Dallas. 66 market multifamily properties were sold in the month of April. This represents a decrease of 29.8% when compared to April 2011, when 94 properties had been sold. In terms of units, Dallas County has shown a decrease of 49% in the number of units sold (1,525 units) compared to April 2011. In terms of square-feet, overall total sales have increased by 472,000 square feet to close at 3,560,211 square-feet in April 2012. This represents an increase of 15.30% over April 2011. Some of the recent sales include:
In April 2012, Waldorf Family Limited Partnership has purchased Sierra Springs, a 108-unit, Class C apartment community located at 2710 West Walnut Street, in the Garland/Rowlett submarket, from Wells Fargo Bank NA. The garden style property is situated on 3.92 acres. The almost 47-year-old property is 64% occupied. The community features one-, two-, and three-bedroom units, ranging in size from 558 to 940 square feet and rental rates ranging from $0.85 to $1.05 per square foot. Property amenities include playground Sauna, swimming pools, laundry, and BBQ Grills/Picnic and a Cinema Room. Unit amenities include Frost free, pantry, patio/balcony, mini blinds, and disposal and walk-in closets. Pets are allowed at the community, with a breed limit of one and a fee and deposit of $200.
Another significant sale noted from that month is the sale of Waldemar. NSpire Woods Partners LLC, an entity of NSpire Management LLC, has purchased Waldemar, a 88-unit, Class B apartment community located at 4812 Waldemar Street in the Richland Hills/Haltom City submarket, from AmeriSouth XVII Ltd, an entity of AmeriSouth Realty Group. The 23-year-old property is 93% occupied. The garden-style, affordable property is situated on 3.36 acres. The community features one-, two- and three-bedroom units ranging in size from 661-1,052 square feet. The rental rates range from $0.71 to $0.91 per square foot. Property amenities include reserved parking, social activities, laundry rooms, School Bus pick-up and a playground. Unit amenities include pantry, mini-blinds, dishwasher, frost free and patio/balcony. Pets are allowed at the community, with a breed limit of two and a combined weight limit of 30lbs with pet fee of $250. Parking garage is not available for this property.
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