| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 86th | Best |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15605 Dallas Pkwy, Addison, TX, 75001, US |
| Region / Metro | Addison |
| Year of Construction | 2012 |
| Units | 121 |
| Transaction Date | 2017-09-14 |
| Transaction Price | $54,750,000 |
| Buyer | GS ARPEGGIO LP |
| Seller | MONOGRAM RESIDENTIAL ARPEGGIO PROJECT |
15605 Dallas Pkwy Addison Multifamily Investment
Amenity-rich Inner Suburb location with high renter concentration points to durable demand and steady leasing, according to WDSuite’s CRE market data.
Addison’s neighborhood ranks in the top quartile among 1,108 Dallas-Plano-Irving neighborhoods (A+ rating), signaling strong location fundamentals for multifamily. Amenity access is a clear strength: restaurant density and cafes score in the high national percentiles, and parks and groceries are plentiful. These factors typically support resident retention and help assets compete for lifestyle-oriented renters.
The neighborhood’s renter-occupied share is high at 84.6%, indicating a deep tenant base and consistent multifamily demand. Neighborhood occupancy is around the low 90s, supporting income stability for well-positioned properties. With median home values elevated for the area, the ownership market tends to sustain rental reliance, which can aid pricing power while requiring thoughtful lease management as rents move.
Demographics aggregated within a 3-mile radius point to a growing renter pool: population and households expanded over the past five years and are projected to increase further, with household sizes edging smaller. That combination generally broadens the prospect base for studios and smaller formats while supporting occupancy stability across unit mixes.
Vintage positioning matters here. The neighborhood’s average construction year skews older (1998), while this asset was built in 2012. Newer construction typically competes well against older stock on finishes, systems, and amenities, though investors should still plan for mid-life capital items and selective modernization to maintain competitive standing.
Safety indicators are mixed but improving. The neighborhood ranks competitive among Dallas-Plano-Irving neighborhoods (421 out of 1,108), and national comparisons sit near the middle of the pack. Notably, estimated property and violent offense rates show year-over-year declines, suggesting a positive recent trend rather than a definitive long-term pattern.
For investor underwriting, this context implies typical urban-suburban risk management: standard security measures, lighting, and community engagement can help reinforce leasing confidence while the area’s trendlines remain under observation.
Nearby corporate offices anchor a diverse employment base and support renter demand through short commutes and retention. Key nodes include Costco’s regional operations, Texas Instruments, General Dynamics, and Thermo Fisher Scientific.
- Costco Regional Office — corporate offices (4.2 miles)
- Texas Instruments — semiconductor HQ (5.2 miles) — HQ
- Texas Instruments South Campus — semiconductor offices (5.4 miles)
- General Dynamics — defense & aerospace offices (6.9 miles)
- Thermo Fisher Scientific — life sciences offices (7.1 miles)
15605 Dallas Pkwy is positioned in an A+-rated Inner Suburb with top-quartile standing in the Dallas-Plano-Irving metro, dense amenities, and a high share of renter-occupied units that deepen the tenant base. Built in 2012, the asset is newer than the neighborhood average and should compete well versus older stock, while investors budget for mid-life systems and targeted upgrades. Based on CRE market data from WDSuite, neighborhood occupancy sits in the low 90s and rent-to-income levels indicate manageable affordability pressure, supporting lease retention. Within a 3-mile radius, recent growth in population and households—and projections for further expansion—point to a larger renter pool over the medium term.
Home values in the area are elevated relative to incomes, which tends to sustain reliance on rental housing and can support pricing power for well-managed assets. Underwriting should also account for mid-pack safety metrics and normal urban-suburban risk practices. Overall, the location’s amenity depth, employment access, and demographic trajectory suggest durable demand with measured upside from ongoing unit and common-area refreshes.
- A+-rated neighborhood with top-quartile metro standing and amenity depth supporting leasing velocity
- High renter-occupied share and low-90s occupancy point to demand depth and income stability
- 2012 vintage provides competitive positioning versus older stock with manageable mid-life capex
- 3-mile population and household growth expand the renter pool, aiding retention and pricing
- Risks: mid-pack safety metrics and standard urban-suburban risk controls should be underwritten