The Waverly — Sale in Dallas, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Dallas, TX 75220

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The Waverly — Sale in Dallas, TX, photo 1 of 2
The Waverly — Sale in Dallas, TX, photo 2 of 2

Investment Figures

Cap rate
6.51%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Waverly Apartments is a 208-unit community in Dallas, Texas, located more specifically in the Love Field/Bachman Lake, one of the most adaptive submarkets. The property sits on a major thoroughfare (Webb Chapel Extension) between two major intersections (Northwest Highway & Denton Drive) and enjoys great drive by traffic, with over 18,000 cars daily and is within walking distance to DART Bachman Station. I-35, Loop-12, and other major roads offer prime proximity to Love Field, Downtown Dallas, and some of the largest and resilient employment corridors DFW has to offer. Waverly has dependable day one yields with only 25% down on a 93% occupied property in a mature DFW market. The subject property was built in 1980, has washer/dryer connections, individual HVACs and electric meters for every unit, consisting of 22 buildings comprised of brick and wood siding exteriors on wood framing and concrete slab foundations. The amenity package is very competitive, including a pool, turfed lounge area, hot tub, manicured BBQ stations, modern clubhouse, smart locks, and property wide WIFI. The Waverly offers rare returns for this blend of vintage and location, with over 10% cash/cash returns and strong day-one performance, being 93% occupied. These types of yields have not been seen on 1980s product in mature, high demand, DFW neighborhoods for over a decade. The property has been meaningfully improved, with over $1.75MM of capital expenditures since 2023. With 66% of units upgraded with granite countertops, this is a plug and play opportunity. Improved asset management, select capital repairs, more targeted marketing and lowering certain controllable extensions offer a 10%+ NOI lift in the short term, quickly improving upon the already stout 6.5% day-one, tax-adjusted, cap rate. This asset is being offered free & clear of existing debt and is eligible for up to 75% LTV agency, non-recourse, options. Investment Highlights: • 208 Unit, 1980 Vintage, Community Located Near Love Fi

Market Context

This multifamily in Dallas, TX is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Dallas, TX — view the full market.

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