Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Shawnee Sevilla Apartments, a 31-unit apartment property located in Dallas, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
John Barker, Senior Director and Daniel Burton, an Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured by Mr. Barker and Mr. Burton
The Shawnee Sevilla Apartments is a 31 unit, 1972 construction, Class C multifamily asset located in a residential neighborhood at 9633 Old Seagoville Road in Dallas, Texas. In close proximity to the property there are two Dallas Area Rapid Transit (DART) bus stops and two parks, Crawford Memorial Park and Fireside Park. The Southeast Dallas Health Center is less than one mile from the property. Shawnee Sevilla Apartments is directly across from the H. Grady Spruce High School. The property is within walking distance to retail and restaurants. The location is immediately accessible to major thoroughfares including Interstate 635 and less than half a mile from CF Hawn (SH-175). The asset is a mere 11 miles away from Downtown Dallas.
The property has an ideal unit mix of 90 percent (28) two-bedroom units, 7 percent (2) one-bedroom, and 3 percent three-bedroom totaling 31 units. Shawnee Sevilla has a total rentable square footage of 29,810 making an average unit size a spacious 962-square feet. The building is constructed with wood siding and brick with concrete slab foundations. On-site amenities include storage, mechanical room, and a central on-site laundry facility totaling to 2,046-square feet.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
