A Marcus & Millichap senior investment team, Norman Eastwoodin Dallas and Robert Sheppard in Seattle, brokered the sale ofWilliamsburg Apartments at 2421 S. Carrier Parkway, a 21-year-oldasset that collected $26,316 per unit and 8.4% cap rate at theclosing table after a nine-year hold.
"Williamsburg is a solidly performing asset with attractivereturns," Sheppard said in a press released. "Increased occupancyand future market recovery will ensure exceptional returns in thefuture. Dallas Central Appraisal Districts assesses the 18-acreholding, just off Interstate 20, at $10.2 million.
The Williamsburg Apartments is a mix of 197 one-bedroom,one-bath, 99 two-bedroom, 1.5 baths, 92 two-bedroom, two baths and30 efficiencies. The units range from 448 sf to 960 sf and rentsfrom $430 to $660 per month.
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