915 S. Waterview Drive
Property Description
THE PROPERTY The Wexler is an 83-unit multifamily community located at 915 S. Waterview Drive in Richardson, Texas. The Property offers a diversified unit mix across studio, one-, two-, and three-bedroom configurations averaging 839 square feet, with current occupancy of 95%. Current ownership has invested approximately $1.7 million in exterior capital improvements since acquisition, in addition to interior renovation spend across the majority of the unit base. Major mechanical systems have been substantially upgraded, including replaced gas boilers, all-new electric panel replacements, and dual-pane windows — materially reducing near-term capital expenditure requirements for a new owner. THE OPPORTUNITY The unit renovation thesis at The Wexler is supported by an in-place track record across three distinct finish tiers — Classic, Gold, and Platinum — with renovated units achieving an average premium of $262/unit/month, a demonstrated 21.8% lift over the unrenovated base. The remaining 22 classic units show projected Platinum premiums of $345/unit/month and a modeled renovation ROI of27.6%. Beyond the unit renovation program, two of the property’s three courtyards remain in classic, unimproved condition —courtyard-facing units already command a $40/month premium upon completion of upgrades, representing incremental, low-capital upside available to a new owner. Additionally, ownership introduced a property-wide bulk WiFi program in January 2026, with tenant charges of $75/unit/month commencing March 2026, and a mandatory parking program effective February 2026 — both of which are only partially reflected in trailing financials and represent meaningful forward revenue contributions. FINANCING The Wexler Apartments is being offered free and clear of existing debt. Prospective purchasers are encouraged to contact Greysteel Debt and Structured Finance ([email protected]) to explore the full range of available financing solutions.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 83 |
| Year Built: | 1962 |
| Lot Size: | 4.88 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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