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The Lakeshore

Address: 300 E Swisher Rd, Lake Dallas, TX 75065, USA

Created date: April 18, 2025

Date last updated: April 29, 2025

THE OPPORTUNITY
The Lakeshore is a 140-unit, 2015-built garden-style community located in the highly connected, suburban Lake Dallas submarket. The unit mix includes 40 one-bedrooms, 76 two-bedrooms, and 24 three-bedrooms, with large, highly desirable floor plans averaging 1,024 square feet. This is a first-generation value-add opportunity with the ability to achieve $100–$200 monthly rent premiums through light interior upgrades, including stainless steel appliances, resurfaced countertops, modern backsplashes, and undermount sinks. The asset benefits from an established CHDO (Community Housing Development Organization) partnership, allowing for a 50% property tax abatement. Additionally, a HOME loan is in place, with 20% of the units rent- and income-restricted—20 units at 50% AMI and 8 units at 30% AMI. The HOME program enhances affordability while supporting long-term stable occupancy and compliance with federal housing initiatives.
FINANCING HIGHLIGHTS
The property is offered with two in-place assumable loan options, providing highly attractive financing terms:
• HUD 223(f) Senior Loan: Assumable at a fixed interest rate of 3.18%
• HOME Loan: Federal program funded by the state, assumable at 0% interest, with existing 20% affordability compliance (20 units at 50% AMI, 8 units at 30% AMI)
Please contact Greysteel’s Debt & Structured Finance team to explore the most efficient financing execution for this opportunity.

Available