Solana — Sale in Garland, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Garland, TX 75042

Description

Solana is a 230-unit apartment community located in Garland, Texas on the major thoroughfare of Walnut Street. This location boasts a one-mile median income of nearly $60,000 and has a strong employment foundation with over 38,000,000 square feet (~50mm SF in all Garland) of industrial and distribution warehouses located less than half a mile from Solana that is 93% leased per CoStar. This is a key economic catalyst and logistics hub for all DFW and utilizes easy access to Interstate-635, Interstate-30 and Highway-75. Texas grocery chain H-E-B has also announced the opening of two grocery stores in Garland in 2026. The strong employment presence allows Garland to beat DFW averages in occupancy and projected rent growth for the years ahead. The current owner of Solana is the second ever owner, as they purchased from the original developer. They have taken the operations and physical plant of Solana into the 21st century and a new owner can capitalize on this low-basis opportunity with focused operational improvements without a large capex budget. The subject property was built in 3 phases between 1963 and 1965 and sits on 7.38 acres. It consists of 11 buildings comprised of brick veneer and siding with pitched composition shingle roofs and 1 building with flat roofs. Roofs were replaced in 2018. The property is heated and cooled by two chillers (both replaced since 2022). 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, see page 37 for further details. Resident amenities include two swimming pools, spacious laundry centers, community areas and backs up to Montgomery Park. Many residents with children attend Walnut Glen Academy, a short five-minute walk. Solana offers a new investor the opportunity to be the third ever owner of this large asset in one of the most reliable workforce submarkets in all D/FW and the country at an ex

Market Context

This multifamily in Garland, TX is listed for sale. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Garland, TX — view the full market.

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