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3951 Garland Avenue #1

Garland, TX 75040

$668,000

4 units · 1984

Units4
Building area4,089 sq ft
Year built1984
Gross income$62,850/yr
Cap rate3.14% as listed
Parking8 spaces
Lot size3.646 acres
TypeQuadruplex

What it costs to own

Taxes$4,076 per year
HOA$295 per month · Winter Park Association
HOA fee coversMaintenance Grounds, Maintenance Structure, Management Fees
Operating expenses$25,160 per year — as listed
Insurance$2,748 per year — as listed
Net operating income$20,946 per year — as listed

Taxes shown reflect the current owner's exemptions and may change after purchase.

About this home

Distinctive Investment Opportunity! 1031 Exchange! Entire Fourplex Four Individually Deeded Condominium Units Sold Together. Unlike a traditional fourplex, this unique ownership structure offers investors added flexibility through separate deeds while maintaining ownership of the entire building. Buyer to verify future resale, leasing, and HOA requirements. Delivered vacant and ready for its next owner, this property offers the flexibility to lease all four units at current market rents, renovate and reposition the asset, occupy one or more units while generating rental income from the others, or customize an investment strategy to meet your goals. One purchase acquires four separately deeded residences, making it an attractive opportunity for investors, owner-investors, or those completing a 1031 Exchange. Strategically located just minutes from the Garland VA Medical Center and the expanding Valoris Medical District, the property benefits from proximity to one of North Texas' largest healthcare and government employment centers. The continued redevelopment of the former Baylor campus into Valoris Park is bringing new medical offices, healthcare facilities, and public and private investment to the area, supporting long-term economic growth and housing demand. Ideally positioned near DART Rail, President George Bush Turnpike, I-635, and major employment corridors, the property offers convenient access to Downtown Dallas, Richardson, Plano, and surrounding business centers. Nearby hospitals, healthcare campuses, universities, corporate employers, shopping, dining, and entertainment further enhance the property's long-term investment appeal. Whether you're expanding your multifamily portfolio, completing a 1031 Exchange, or seeking a North Texas investment property with the flexibility to establish your own leasing strategy from day one, this is a rare opportunity to acquire an entire four-unit building with individually deeded ownership in a prime Garland location.

The details

HeatingCentral
CoolingCentral Air
FlooringTile
AppliancesDishwasher, Disposal, Electric Cooktop, Electric Oven
Interior featuresCable TV Available
Bathrooms4 full · 4 half

Construction materialsBrick, Siding
RoofComposition
FoundationSlab

Water sourceCity Water
SewerCity Sewer

SubdivisionTomlinson Square-Winter Park

ElementaryChoice Of School
Middle schoolChoice Of School
High schoolChoice Of School
DistrictGarland ISD

Gross income$62,850 per year
Operating expenses$25,160 per year
Operating includesInsurance, Maintenance, New Tax, Other
Insurance$2,748 per year
Cap rate3.14% — as listed
Net operating income$20,946 per year

MLS #21349490
Source
On the market84 days
CountyDallas

Around this home

One moment…

Everyday life

Nearest groceryTom Thumb · 0.8 mi
Nearest parkW. Cecil Winters Park · 0.2 mi

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Listing courtesy of Redfin Corporation — Cristina Rosenthal.

Robert LewisStephen LewisRobert & StephenInk Realty Group

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Listing data provided by the North Texas Real Estate Information Systems (NTREIS). MLS #21349490. Information last updated October 28, 2026.

Based on information submitted to the MLS as of the date above. All data is obtained from various sources and may not have been verified by the broker or NTREIS. Supplied data is for the viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing.

Ink Realty Group is brokered by eXp Realty.

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