±1.3256 Acres | Infill Multifamily Development… — Sale in Dallas, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Dallas, TX 75223

Description

Located just north of Interstate 30 and immediately east of Downtown Dallas, this ±1.3256-acre infill tract presents a high-visibility multifamily development opportunity in a corridor experiencing continued residential momentum. The property offers approximately 175 feet of frontage on Terry Street and 281 feet along Peak Street , with secondary paved access via 509 Ann Avenue, included in the sale. The dual frontage and additional access point provide exceptional flexibility for site planning, parking configuration, and construction logistics. The site is flat, cleared, unimproved, and utilities are available at the street. No portion of the property lies within a flood zone. Zoning & Development Parameters Multifamily potential supported under Texas S.B. 840 S.B. 840 Sec. 249.102(ii) allows up to 45 feet in height Zoning: CS No Opportunity Zone designation The combination of statutory height allowances and established multifamily activity in the submarket positions this tract for efficient mid-rise development. Currently zoned CS, multifamily development potential is supported under Texas S.B. 840 , creating a compelling opportunity for developers seeking well-located urban infill sites with regulatory upside. Market & Transaction Activity Multifamily demand in the immediate area has been validated by recent sales activity, with seven multifamily properties built after 2000 trading within the past two years , containing up to 40 units per property . These transactions demonstrate investor appetite and rental viability for boutique- to mid-scale infill product. Land Size: 57744.0 SF | Listing Type: FOR SALE

Market Context

This multifamily in Dallas, TX is listed for sale. It has been on the market for 71 days. Compare it against other multifamily listings for sale in Dallas, TX — view the full market.

As of Q1 2026, the Dallas / Fort Worth multifamily market showed average asking rents near $2832.00/unit/mo, rents up 0.8% year over year, and cap rates around 5.7%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Dallas / Fort Worth?
About 5.7% as of Q1 2026, per multiple brokerage reports.

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