Marcus & Millichap Sell Northeast Dallas Apartment Complex
After 17 tours in less than 30 days, Marcus & Millichap announced the sale of the Newport Landing Apartments. The 168k SF apartment complex is in the Highland Meadows neighborhood. Its 185 units average 912 SF. Marcus & Millichap senior director John Barker and associate Daniel Burton repped the sale to a private investor. John tells us with capital improvements made to the asset, the purchaser will be able to greatly increase the rents and overall value.
The amenities of the gated property include a swimming pool, business center, clubhouse, on-site laundry facilities and courtyard. Inside, the units they feature fireplaces, walk-in closets and private patios. John tells us the private investor plans to make both interior and exterior improvements, including updates to the bathrooms and kitchens.