| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 46th | Fair |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 La Prada Dr, Garland, TX, 75043, US |
| Region / Metro | Garland |
| Year of Construction | 1983 |
| Units | 111 |
| Transaction Date | 2012-06-26 |
| Transaction Price | $4,000,000 |
| Buyer | Montclair Investors LLC |
| Seller | WSL Montclair Investors V LP |
801 La Prada Dr, Garland TX Multifamily Investment
Neighborhood occupancy is exceptionally tight and has trended up in recent years, signaling durable renter demand according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Garland within the Dallas–Plano–Irving metro, the area shows full neighborhood occupancy and steady rent growth, supporting lease stability for multifamily assets. These occupancy metrics are measured for the neighborhood, not this property, and point to consistent absorption and limited turnover risk in comparable stock.
Within a 3-mile radius, households have increased while average household size edged lower, expanding the renter pool and supporting demand depth. The renter-occupied share is about 46% of housing units, which indicates a sizable tenant base for workforce-oriented product and supports ongoing leasing velocity.
Amenities are mixed: grocery access is adequate for daily needs, and childcare density scores high relative to national peers, while cafes, restaurants, parks, and pharmacies are thinner in the immediate neighborhood. Median contract rents in the area have risen over the last five years, and the neighborhood’s rent-to-income profile sits in a range that supports retention and measured pricing power. By contrast, ownership costs are relatively accessible in this submarket, which can introduce some competition with entry-level ownership; operators may prioritize service quality and community features to sustain renewals.
The average neighborhood construction year skews to the early 1990s, while this 111-unit asset was built in 1983. The earlier vintage suggests potential value-add and capital planning opportunities around interiors, exteriors, and systems to enhance competitive positioning versus newer nearby stock.
Safety indicators are mixed when benchmarked nationally: overall crime sits below the national median, while recent trends show improvement in violent offense rates, which have declined year over year. Property offense levels compare less favorably to national peers, warranting routine security and lighting best practices common to inner-suburban Dallas submarkets.
Within the Dallas–Plano–Irving metro’s 1,108 neighborhoods, the area performs around the metro middle on safety, with a recent improvement trend that aligns with broader regional stabilization. Investors should weigh standard risk mitigation (access control, visibility, resident engagement) to support resident satisfaction and retention.
- D.R. Horton, America's Builder — corporate offices (5.1 miles)
- Texas Instruments South Campus — corporate offices (8.4 miles)
- Texas Instruments — corporate offices (8.6 miles) — HQ
- Thermo Fisher Scientific — corporate offices (9.0 miles)
- General Dynamics — corporate offices (9.6 miles)
This 111-unit, 1983-vintage property benefits from a neighborhood with exceptionally tight occupancy, reinforcing near-term leasing stability and a broad tenant base. Within a 3-mile radius, household counts have grown even as average household size modestly declined, which points to a larger pool of prospective renters and supports steady absorption. Based on commercial real estate analysis from WDSuite, local rent levels and rent-to-income dynamics indicate room for disciplined revenue management rather than aggressive pushes.
The earlier vintage relative to nearby stock creates a clear value-add pathway through unit modernization and selective systems upgrades to compete against early-1990s product. Balanced against these strengths, investors should account for thinner lifestyle amenities in the immediate area, mixed safety benchmarks, and some competitive pressure from relatively accessible ownership options.
- Full neighborhood occupancy supports leasing stability and renewal potential
- 3-mile household growth and renter concentration broaden the tenant base
- 1983 vintage offers value-add upside via interior and systems upgrades
- Measured rent-to-income profile supports disciplined pricing and retention
- Risks: thinner nearby amenities, mixed safety metrics, and ownership competition