Marcus & Millichap closed the sale of Lakefront Villas, a 105-unit apartment community in Richardson, Texas.
The property sits adjacent to a lake and features frontage on Spring Valley Road, just west of U.S. Highway 75. This location provides visibility, access to area employers and proximity to Richardson ISD schools.
Al Silva, along with Ford Braly, managing director investments, in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, a local operator, and procured the buyer, a private investor new to the market.
The buyer plans to implement a property-wide cable and internet service and offer washer/dryer rentals to increase revenue.
Built in 1968, Lakefront Villas is an 11-building community spanning nearly six acres at 900 West Spring Valley Road. It offers large floor plans averaging more than 880 square feet, with washer/dryer connections in all units, fireplaces and full kitchens. Residents have access to lakeside views, a swimming pool, deck area, a clubhouse with fitness center and an onsite laundry facility. The property has been maintained by the same ownership for more than nine years.
Since the beginning of 2026, the Silva Braly Multifamily Team of Marcus & Millichap has closed or awarded 1,000 apartment units in the Dallas/Fort Worth metroplex totaling $95 million in consideration at a market leading 97.1% sales to list price ratio.
