Devonshire Lake Dallas
A 140-unit Class A multifamily investment opportunity in North Dallas featuring a 100% untouched value-add strategy, attractive basis, and 50% tax abatement.
Property Overview
Devonshire Lake Dallas is a 140-unit institutional-quality Class A multifamily community located in a highly desirable North Dallas submarket. Built in 2015, the asset offers investors an opportunity to acquire a newer vintage property with strong fundamentals and significant upside through operational improvements and unit renovations.
Why We Love This Opportunity
Devonshire Lake Dallas combines an attractive acquisition basis, meaningful value-add potential, tax advantages, and a high-quality North Dallas location creating multiple drivers of long-term investor value.
Non-Distresses Asset at an Attractive Price
Unlike many discounted opportunities on the market, Devonshire Lake Dallas in not a distresses property with hidden deferred maintenance issues. It is a well maintained, 2015-built asset, but the seller's situation has created a pricing opportunity more commonly associated with distressed assets. It is being acquired at approximately $157,000 per unit, significantly below comparable sales in the surrounding market. This favorable basis provides investors with a strong starting position and upside as the business plan is executed.
Cashflow from Day 1
Devonshire Lake Dallas is already operating as a stable, income-producing asset, allowing investors to benefit from projected cashflow early in the hold period. This provides a strong foundation while the team executes the value-add plan to further improve property performance.
Tax Savings Through Cost Segregation
A planned cost segregation study will allow eligible investors to benefit from accelerated depreciation, with preliminary estimates showing a $40K year 1 paper loss on a $100K investment, plus $56k over 5 years.
100% Untouched Value-Add Opportunity
Unlike many renovated assets, every unit remains in classic condition. This allows the ownership team to implement strategic interior and exterior improvements designed to enhance resident experience, improve property performance, and unlock future rent growth.
Valuable 50% Tax Abatement
The property benefits from a unique tax abatement structure that helps reduce operating expenses and increase cash flow. This advantage supports stronger property performance while providing additional protection during changing market conditions.
Located in a High-Growth Dallas Submarket
Situated within the Dallas–Fort Worth Metroplex, the property benefits from strong population growth, economic diversity, excellent schools, and convenient access to major employers, retail destinations, and recreational amenities including Lewisville Lake.
Stable Cashflow with Amazing Financing
The investment is supported by long-term assumable HUD loan with a fixed 3.18% interest rate, helping reduce interest-rate risk while providing predictable financing throughout the hold period.
Proven Team with a Strong Track Record
The sponsorship team has acquired more than $350 million in multifamily assets, operated over 3,200 units, and successfully completed multiple full-cycle investments. Their experience and hands-on approach position them well to execute the Devonshire business plan.
Market Overview
Located In One Of The Nation's Fastest Growing Regions
The Dallas–Fort Worth Metroplex continues to be one of the strongest multifamily markets in the United States, driven by sustained population growth, job creation, and business expansion. As more residents relocate to the region, demand for quality rental housing remains strong across key submarkets.
Devonshire Lake Dallas benefits from its location within a desirable North Dallas community, offering residents access to major employment centers, highly rated schools, retail destinations, and recreational amenities including Lewisville Lake. These factors support long-term occupancy, rental demand, and investment performance.
Projected Returns
Meet the Team
Experienced multifamily operators with a proven track record in acquisitions, asset management, and value creation across high-growth
