Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Lakeside Village, a 65,200-square-foot, 76-unit apartment community in Wylie, Texas.
“Lakeside Village is a stabilized asset in the extremely desirable submarket of Wylie, Texas. as evidenced by over 30 offers for the asset,” says Bard Hoover, senior managing director investments. “With only 25% of the units being upgraded, there is significant opportunity to continue the interior upgrade program and realize $125 in monthly premiums.”
Nick Fluellen, Bard Hoover and Chris Pearson, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, Wolfe Kirby LLC, and procured the buyer, JM Lakeside LLC.
Lakeside Village offers a unit mix of 76 apartments built in 1981, spread across five buildings on a 2.12-acre site comprising one- and two-bedroom units. The property is positioned less than one mile from Highway 78 and near major retailers, restaurants, and entertainment options. It is also located three miles northwest of Collin College – Wylie and near Wylie’s top employer, Sanden International USA Headquarters.
Marcus & Millichap, Inc. (
