Rent positioning
Two-bedroom monthly rent
Comparable average
$1,692
Parkwood effective
$1,302
The memorandum reported an approximately $390 monthly difference between Parkwood’s effective rent and the surveyed comparable average.
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Portfolio property · Richardson, Texas
Parkwood Apartments
325 East Phillips Street · Acquired 2021
Property overview
An established courtyard community in a connected infill location.
Parkwood is a 28-unit apartment community positioned near US-75, major employers, retail, and the University of Texas at Dallas. The property combines a consistent two-bedroom unit mix with access to Richardson’s employment base and regional transportation network.
28Two-bedroom units
800 SFAverage unit size
22,400 SFNet rentable area
1.21Acres
62Parking spaces
1956Year built
Market context
Property-level facts in a demand-rich submarket.
Selected historical data from the June 2025 offering memorandum. These figures provide market context and are not current performance claims or projections.
June 2025 OM
Demand drivers
Selected nearby employers
State Farm12,000
Blue Cross Blue Shield5,300
UT Dallas3,700
Raytheon2,500
Methodist Richardson2,300
Median household income within one mile, as reported in the OM.
Nearby-area benchmark occupancy reported by Yardi Matrix in the OM.
Proximity to regional employment, retail, Richardson ISD, and DART connectivity.
Source: Parkwood Offering Memorandum, June 2025. Market and operating figures are historical, were prepared by third parties, and may have changed.
Property features
Practical resident amenities and a consistent unit profile.
Two-bedroom floorplansOn-site laundryCovered parkingGarden courtyardPlaygroundSecurity camera systemRichardson ISDProximity to US-75