PARK DISTRICT RESIDENTIAL TOWER
2120 N OLIVE ST, DALLAS, TX, 75201
$148,622,310
2025 Appraised Value
↑ 1.1% from prior year
EXECUTIVE SUMMARY: PARK DISTRICT RESIDENTIAL TOWER
Park District's 1.1% YoY appraisal appreciation and 30.3% pipeline-to-inventory ratio signal a stabilized, fully-positioned asset in a softening submarket—limited value-creation runway and near-term lease pressure constrain upside. The property commands defensible positioning anchored by Dallas-leading Walk Score of 92 and Transit Score of 76, capturing a concentrated affluent demographic ($103.0K median income, 66.2% earning $100K+ within 1 mile) with 86.0% renter concentration, but this micro-geography creates lease-up and retention dependency on a narrow, saturated income cohort rather than MSA-wide demand depth. Class A 2016 construction with premium finishes throughout leaves minimal capital value-add; operational execution appears solid (4.7 Google rating), though emerging move-out friction and management responsiveness gaps warrant scrutiny on turnover cost and resident satisfaction sustainability. The 23.9% affordability ratio and tight renter concentration beyond 1 mile (62.9% at 5 miles) further constrain downside rent resilience. Watch-list: Strong urban location and demographic fit offset by stabilized appraisal dynamics, imminent supply competition, and operational risk signals; suitable only if acquisition thesis anchors on operational improvement or long-hold yield stability rather than value-add.
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A Higher Standard of Living
At the intersection of natural beauty and urban adventure, Residences at Park District becomes the backdrop for picture-perfect and pristine living. Impeccable service. Extraordinary living spaces. Thoughtfully-curated amenity areas. With its desirable location at Klyde Warren Park, residents have immediate access to Dallas' finest restaurants, enviable designer retail, performing arts venues, urban green spaces, and all the city has to offer.
Class A asset with minimal value-add opportunity. Park District's 2016 construction coupled with consistent premium finishes—quartz/marble countertops, modern slab cabinetry, stainless steel appliances, and hardwood flooring across 14 analyzed units—indicates either original high-spec or a 2018-2020 wholesale renovation (no evidence of partial upgrades). Amenity package (marble clubhouse, rooftop lounge with fire pit) aligns with luxury positioning. All 14 photos show excellent condition with fresh paint and premium finishes, leaving minimal physical upgrade runway; value creation hinges on operational efficiency and rent growth rather than capital improvement.
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Location Profile Strongly Supports Premium Urban Positioning
Walk Score of 92 and Transit Score of 76 place this property in the top tier for Dallas multifamily, indicating genuine car-optional living—a differentiator that commands rent premiums in a sprawling market. The Bike Score of 70 further signals dense pedestrian infrastructure and mixed-use development, suggesting proximity to employment clusters, dining, and retail rather than isolated residential zoning. Without rent data, we cannot confirm pricing optimization, but these walkability metrics typically support rents 15–25% above suburban comparables in Dallas and align with younger professionals and empty-nesters willing to pay for urban convenience over square footage.
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The 30.3% pipeline-to-inventory ratio poses material near-term headwinds, particularly given the submarket's deteriorating vacancy trend—new supply will arrive into a softening demand environment. Of the 69 nearby units tracked, most permits remain early-stage (plan review, revisions required, payment due), suggesting staggered deliveries through 2026–2027 rather than a single competitive pulse, though four projects in inspection phase could materialize within 12 months. The scattered permit locations (75215, 75214, 75206, 75204, 75226 ZIP codes) indicate distributed competition across multiple neighborhoods rather than concentrated direct competition, which moderates but does not eliminate downward pressure on lease rates and occupancy at Park District.
| Distance | Address | Description | Status | Filed |
|---|---|---|---|---|
| 0.5 mi | 2702 MCKINNEY AVE | 2700 McKinney - 21 Story Mixed Use Tower Including Retail... | Payment Due | Jun 09, 2022 |
| 0.6 mi | 3031 N HARWOOD ST | QTEAM MEETING 9.4.2025 3131 N Harwood For Office and 303... | Revisions Required | Jul 21, 2025 |
| 0.9 mi | 2505 TURTLE CREEK BLVD | New construction of 20-story assisted living building wit... | Inspection Phase | Aug 06, 2024 |
| 0.9 mi | 2013 JACKSON ST | ***Manual Recreation*** 1906051126*** - New Multifamily C... | Inspection Phase | Jul 10, 2025 |
| 1.0 mi | 3608 SAN JACINTO ST | New residential townhomes | Inspection Phase | May 26, 2022 |
| 1.1 mi | 3555 DICKASON AVE | Q-Team Migrated NEW 4 LEVEL ABOVE GRADE GARAGE(1-3.5).LEV... | Payment Due | Mar 24, 2021 |
| 1.2 mi | 1714 RIPLEY ST | New construction of five townhomes. | Inspection Phase | Jun 19, 2024 |
| 1.3 mi | 1717 N PEAK ST | Commercial New construction of a 7-unit multi-family buil... | Payment Due | Feb 27, 2025 |
| 1.3 mi | 720 S GOOD LATIMER EXPY | Q Team Review New construction of a 21 level residential ... | Plan Review | Jan 31, 2023 |
| 1.4 mi | 4315 SAN JACINTO ST | New construction of 9 units multifamily | Payment Due | Sep 17, 2024 |
| 1.4 mi | 4319 SAN JACINTO ST | New Construction 9 unit multifamily. | Inspection Phase | Sep 17, 2024 |
| 1.4 mi | 4320 SCURRY ST | Q Team for East Village II New Construction for 3 buildin... | Inspection Phase | May 19, 2022 |
| 1.4 mi | 3201 MAIN ST | QTEAM MEETING 12.3.2025 - NOT USING SB840, CONFIRMED WITH... | Application About to Expire | Oct 16, 2025 |
| 1.4 mi | 4315 SCURRY ST | Q Team review for East Village New Construction for 15 -... | Inspection Phase | May 04, 2022 |
| 1.5 mi | 4475 SCURRY ST | New Construction of 18 unit Multifamily. | Inspection Phase | Oct 11, 2024 |
| 1.5 mi | 4405 SCURRY ST | Q-Team 4405 Scurry for a New, Commercial Multifamily deve... | Revisions Required | Nov 20, 2024 |
| 1.5 mi | 1902 N CARROLL AVE | New Construction of 3 story 33 townhouses with garage at ... | Inspection Phase | Jul 01, 2022 |
| 1.5 mi | 4005 N HALL ST | QTEAM MEETING - 7.23.2025 - 8 unit multifamily new constr... | Payment Due | Jun 17, 2025 |
| 1.5 mi | 1000 N PEAK ST | QTEAM 1000 N Peak. New Construction of 54-unit, 3-story M... | Revisions Required | May 15, 2025 |
| 1.6 mi | 1701 S MALCOLM X BLVD | Q-Team Review, new Construction of two-story structure co... | Inspection Phase | Nov 18, 2021 |
| 1.6 mi | 3900 LEMMON AVE | New construction of MFD project. 406 dwelling units with ... | Revisions Required | Aug 21, 2024 |
| 1.6 mi | 4609 MANETT ST | QTEAM MEETING 8.12.2025 (1:30 PM) new townhomes | Revisions Required | Jun 17, 2025 |
| 1.6 mi | 4011 N HALL ST | QTEAM MEETING 7.22.2025 - 8 unit multifamily new construc... | Payment Due | Jun 17, 2025 |
| 1.6 mi | 4013 N HALL ST | QTEAM MEETING 7.17.2025 8 unit multifamily new construction | Payment Due | Jun 17, 2025 |
| 1.7 mi | 1900 S ERVAY ST | MANUAL CONVERSION: 1903061211 - EC, FS, FA, PL, ME, EL, G... | Inspection Phase | May 13, 2025 |
| 1.7 mi | 4704 MONARCH ST | Multifamily New Construction, 8 townhouses with 2 bedrooms | Inspection Phase | Apr 01, 2025 |
| 1.7 mi | 2095 S HARWOOD ST | THE PROJECT CONSISTS OF NEW CONSTRUCTION IMPROVEMENTS FOR... | Payment Due | Jul 18, 2023 |
| 1.7 mi | 1919 S HARWOOD ST | QTEAM MEETING 1.29.2026 (1:30 PM) 4 story multifamily apa... | Revisions Required | Dec 29, 2025 |
| 1.7 mi | 1819 LEAR ST | PROJECT CONSIST OF (2) 5 UNIT 4-STORY NEW CONSTRUCTION TO... | Revisions Required | Nov 24, 2025 |
| 1.7 mi | 1255 ANNEX AVE | QTEAM MEETING 1.8.26 (1:30 PM) New Construction - Multifa... | Inspection Phase | Nov 24, 2025 |
| 1.7 mi | 4330 DICKASON AVE | New construction of multi-family// 4330 Dickason. | Plan Review | Jun 29, 2022 |
| 1.7 mi | 1905 CORINTH ST | QTEAM MEETING 11.6.2025 (1:30 PM) Two four story multifam... | Revisions Required | Sep 19, 2025 |
| 1.8 mi | 1722 N FITZHUGH AVE | 5 Townhome Units New Construction (Multifamily) | Plan Review | Dec 10, 2025 |
| 1.8 mi | 1405 SEEGAR ST | (7) four story townhomes. Site development including driv... | Revisions Required | Jun 12, 2025 |
| 1.8 mi | 2723 HONDO AVE | New construction, multifamily.6 dwelling units. | Inspection Phase | Nov 27, 2024 |
| 1.8 mi | 2314 ARROYO AVE | he proposed work includes the construction of three-story... | In Review | Sep 16, 2025 |
| 1.8 mi | 2811 HONDO AVE | New construction of 12 unit townhome on two lots; 6 units... | Inspection Phase | Jul 16, 2021 |
| 1.9 mi | 4918 BRYAN ST | New construction MFD, 7 dwelling units, 4918 Bryan | Inspection Phase | Jun 02, 2023 |
| 1.9 mi | 2514 LUCAS DR | (1131) MULTI-FAMILY DWELLING / 5 UNIT MULTIFAMILY | Inspection Phase | Feb 24, 2025 |
| 1.9 mi | 2220 S ERVAY ST | NEW GROUND UP MULTIFAMILY DWELLING, FIVE-STORY WITH 315 A... | Payment Due | Feb 12, 2025 |
| 1.9 mi | 4501 AFTON ST | Residential use | Inspection Phase | Nov 23, 2021 |
| 2.0 mi | 3501 ASH LN | New 293 units apartment complex with wrapping 5 story par... | Revisions Required | Aug 05, 2023 |
| 2.0 mi | 2522 MERLIN ST | NEW CONSTRUCCION MULTIFAMILY | Additional Info Required | Mar 09, 2026 |
| 2.0 mi | 1906 MOSER AVE | QTEAM MEETING 3.10.2026 (All Day) new multifamily constru... | Revisions Required | Jan 20, 2026 |
| 2.1 mi | 4618 COLUMBIA AVE | Multifamily-2 New Duplex | Application About to Expire | Dec 16, 2021 |
| 2.2 mi | 5601 BRYAN PKWY | QTEAM MEETING 9.3.2025 AM To build 5 unit condos - Total ... | Inspection Phase | Jun 30, 2025 |
| 2.3 mi | 2708 PARNELL ST | QTEAM MEETING TBD New Construction of 21 units of multifa... | Payment Due | Feb 18, 2026 |
| 2.3 mi | 2705 CLEVELAND ST | The 2705 Cleveland project is a multi-unit urban infill r... | Payment Due | Dec 22, 2025 |
| 2.3 mi | 4918 EAST SIDE AVE | New construction of 5-unit townhome building | Application About to Expire | Jun 28, 2024 |
| 2.3 mi | 4555 TRAVIS ST | QTEAM PROJECT The project is a mixed use project of appro... | Revisions Required | Aug 26, 2022 |
| 2.3 mi | 909 E COLORADO BLVD | New construction multifamily. | Inspection Phase | Feb 04, 2025 |
| 2.4 mi | 2829 GOULD ST | The proposed work includes the construction of three-stor... | Revisions Required | Jun 26, 2025 |
| 2.4 mi | 3108 SOUTH BLVD | New 5 unit multi-family dwelling. Previous permit number:... | Revisions Required | Feb 20, 2025 |
| 2.4 mi | 3000 SOUTH BLVD | CONSTRUCTION OF NEW TWO STORY STUDIO APARTMENTS | Revisions Required | Jan 21, 2025 |
| 2.5 mi | 701 N LANCASTER AVE | New construction 16 condos | Payment Due | Oct 25, 2023 |
| 2.6 mi | 5705 LIVE OAK ST | New Construction Multifamily-5705 Live Oak | Inspection Phase | Jul 24, 2024 |
| 2.6 mi | 4777 N CENTRAL EXPY | New podium structured multifamily building with below gra... | Inspection Phase | Jul 02, 2024 |
| 2.6 mi | 6001 LEWIS ST | Commercial New - Multifamily | Inspection Phase | Feb 08, 2024 |
| 2.6 mi | 5946 LEWIS ST | Building 5 condos -3 story. | Revisions Required | Aug 15, 2025 |
| 2.6 mi | 5731 RICHMOND AVE | QTEAM MEETING 10.21.2025 (AM) New construction of six-uni... | Inspection Phase | Sep 23, 2025 |
| 2.7 mi | 400 N LANCASTER AVE | New construction of 16 unit multifamily. | Inspection Phase | Jan 28, 2025 |
| 2.7 mi | 6027 LA VISTA DR | Construct 5 Plex WOOD FRAMESTUCCO/SIDINGCONDOS WITH ATTAC... | Revisions Required | Sep 19, 2025 |
| 2.8 mi | 1111 N MADISON AVE | QTEAM MEETING 10.22.2025 New construction of a 4 unit condo | Inspection Phase | Aug 18, 2025 |
| 2.8 mi | 312 N LANCASTER AVE | New Construction 16 Multifamily | Payment Due | Jan 19, 2023 |
| 2.8 mi | 911 E 8TH ST | QTEAM MEETING 6.5.2025 - 20 unit new construction multifa... | Payment Due | May 16, 2025 |
| 2.8 mi | 5115 MCKINNEY AVE | New construction of mixed use building.90 multifamily uni... | Plan Review | Jul 16, 2023 |
| 2.9 mi | 5810 REIGER AVE | QTEAM MEETING 11.20.2025 (9 am) New construction of group... | Inspection Phase | Oct 23, 2025 |
| 2.9 mi | 4739 GRETNA ST | 18 Townhouses in 2 phases. 9 units each phase. PHASE 1 BU... | Inspection Phase | Jan 15, 2025 |
| 2.9 mi | 6151 ORAM ST | Construction of New Multifamily Units | Permit About to Expire | Dec 23, 2024 |
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Financial Estimates
Estimated from loan records, rental listings, and appraisal data using industry-standard assumptions.
Sale & Valuation
- Est. Sale Price
- —
- Sale $/Unit
- —
- Value YoY
- +1.1%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 5.6%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 55%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $16,296/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Park District Residential Tower is a 2016 high-rise (34 stories, 228 units) with reinforced concrete frame construction and brick exterior, delivering 300.1K SF of net leasable area across 390.3K SF gross. The property maintains Excellent condition and quality ratings with a 92 walk score, reflecting its Klyde Warren Park location adjacent to dining, retail, and cultural amenities in central Dallas. Unit-level finishes and parking configuration are not specified in available data; the property is pet-friendly with no utilities included in rent.
Property Details
- Account #
- 00C7128RESIT12000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- High-Rise
- Construction
- B-REINFORCED CONCRETE FRAME
- Quality
- EXCELLENT
- Condition
- EXCELLENT
- Stories
- 34
- Gross Building Area
- 390,324 SF
- Net Leasable Area
- 300,121 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- May 29, 2014
- Place ID
- ChIJ3fm5ISWZToYRXzCddTDQ0CQ
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- TC UPTOWN ASSOCIATES LLC
- Mailing Address
-
ATTN: GARY MANNDALLAS, TEXAS 752016910
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Rental Performance
Rent Trends
Estimated Occupancy
Estimated from listed vacancies vs total units
Asking Rent Range
Min/avg/max asking rents from property website
Available Units Over Time
Latest Scrape (Mar 22, 2026)
Fees
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| BR | — | $2,900 | Inactive | Mar 22 | — | ||
|
Mar $2,900
|
|||||||
| A3 | 1BR | 1 | 951 | — | Inactive | Mar 22 | — |
| B3 | 2BR | 2 | 1,505 | — | Inactive | Mar 22 | — |
| B4 | 2BR | 2 | 1,575 | — | Inactive | Mar 22 | — |
| B5 | 2BR | 2 | 1,685 | — | Inactive | Mar 22 | — |
| PH6 | 2BR | 2 | 2,587 | — | Inactive | Mar 22 | — |
| B1 | BR | — | — | Inactive | Mar 22 | — | |
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Demographics
The 1-mile urban core supports premium positioning with $103.0K median income and 86.0% renter concentration, though the 23.9% affordability ratio suggests tight rent coverage relative to local wages—this property likely captures affluent renters or those with supplemental income sources. The income distribution skews sharply upscale within 1 mile (29.8% earning $150K+) versus 26.4% at 5 miles, indicating the property occupies a high-end submarket insulated from workforce housing pressure. However, demand depth softens dramatically beyond the immediate footprint: renter concentration drops to 62.9% at 5 miles and household sizes rise to 2.18, signaling a shift to family-oriented ownership outside the core. The property's lease-up and retention will hinge on sustaining access to the concentrated $100K+ income cohort (66.2% within 1 mile) rather than relying on broader population growth across the wider MSA.
1-Mile Radius
- Population
- 34,261
- Households
- 23,141
- Avg Household Size
- 1.49
- Median HH Income
- $103,005
- Median Home Value
- $611,388
- Median Rent
- $2,049
- % Renter Occupied
- 86.0%
- Affordability
- 23.9% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 164,394
- Households
- 89,982
- Avg Household Size
- 1.79
- Median HH Income
- $94,306
- Median Home Value
- $507,935
- Median Rent
- $1,701
- % Renter Occupied
- 73.0%
- Affordability
- 21.6% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 345,174
- Households
- 163,434
- Avg Household Size
- 2.18
- Median HH Income
- $96,147
- Median Home Value
- $507,637
- Median Rent
- $1,633
- % Renter Occupied
- 62.9%
- Affordability
- 20.4% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 11 tracts (1mi)
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Amenities
Pet Policy
pet-friendly
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Appraisal History
Appraisal Analysis: Park District Residential Tower
The property carries a 2025 appraised value of $148.6M ($651.9K per unit), with minimal appreciation at 1.1% YoY—well below historical inflation and multifamily NOI growth, suggesting flat market pricing or conservative appraisal methodology. The improvement-to-land ratio of 93:7 reflects a 2016 Class A asset with limited redevelopment optionality; the $9.2M land value provides negligible basis for alternative-use conversion. Single appraisal data point limits trend analysis, but the modest YoY gain indicates this property is either fully stabilized with muted value creation, or the market has repriced downward from prior peaks.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $148,622,310 | +1.1% |
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Google Reviews
Rating stability masks emerging operational friction. Park District's 4.7 overall rating with 79.3% five-star reviews reflects strong leasing and hospitality execution—staff (Brittany, Ashley, Alette) consistently mentioned—but the 10 basis point decline over six months (4.7% to 4.6%) and two recent sub-5 reviews signal cracks. The November 2025 two-star centers on view obstruction and aggressive move-out charges; the September three-star flagged tour-stage disappointment. While maintenance quality appears solid (Armando's team, housekeeping specifically praised), the emerging pattern of move-out friction and management responsiveness gaps ("Can't contact office") warrants underwriting scrutiny on resident retention and turnover cost drivers. The premium positioning appears defensible operationally but faces reputational risk if damage assessment practices are generating negative word-of-mouth among a discerning, affluent tenant base.
Rating Distribution
51 reviews total
Rating Trend
Reviews
My wife and I have now been a resident of "Residence at Park District" for a year, we live part of the year in Europe and keep our home base residence right here. We wanted to speak out and share seriously how much we love living here and a place we call home when in Dallas. The building itself is absolutely stunning and of great build Quality, the cleaning staff here keeps this entire place spotless at all times, we have never noticed any neglect in cleanliness or tattered/old and or abused carpeting or furniture on display anywhere in this building including how clean the elevators and parking garage are Always Kept. The leadership here led by Nina and Kassi are a huge asset to our community, they pay attention to all the details, very approachable, friendly and professional, the team they lead and front desk concierges are extremely professional, helpful but most of all friendly and very much always there with a smile on their face and ready to offer any assistance anytime needed or just a simple hello and how are doing! We may not remember all the names but a huge Thank You to all for all that you do an dare about- Toi, Sidney, Chad, Madi, Antoine, Ryan and John whom we interact with almost weekly if not daily, this is an outstanding team. For all the reasons mentioned above we will most certainly renew our lease this year and continue to cal Residence as Park District our home. Grazie Mille a tutti!
Owner response · Feb 2026
Thank you for sharing your wonderful experience at Residences at Park District. We're thrilled to hear how much you enjoy the community and appreciate the dedication of our team. Your kind words about the building's quality and cleanliness, as well as the professionalism of our staff, are truly valued. We look forward to continuing to provide a welcoming and exceptional environment for you and your family. Grazie Mille for your support! - Nina Alfieri, General Manager
This is an incredible asset and Nina gave me a great tour. The view is crazy and I will most definitely be leasing here soon.
Owner response · Jan 2026
Thank you for your positive feedback! We're thrilled to hear you enjoyed the tour and the views. We look forward to welcoming you as a resident soon.
Owner response · Dec 2025
Thank you for your 5-star rating! We're delighted to know you had a positive experience with us.
Highly recommend speaking to Brittany at Park District. She is great and will show you the available apartments. I moved in in April. And I can't say enough great things about the building. It's clean and quiet. The gym and pool are phenomenal. Rooms are awesome. And the people who work here are all lovely. Never thought I was an apartment guy but might never go back to a house.
Owner response · Aug 2025
Thank you for sharing your positive experience. We're delighted to hear that you enjoy the cleanliness, amenities, and community atmosphere. Your recommendation means a lot to us, and we're thrilled to have you as part of our community.
We’ve been touring with Brittany and she has been fantastic throughout the entire process. Our schedule involved a lot of travel and coordination, and she was always incredibly patient, responsive, and easy to work with. The property itself is absolutely beautiful, and the amenities truly stand out. Everything from the overall experience to the level of service has been top notch. Highly recommend working with this team.
Owner response · Dec 2025
Thank you for sharing your positive experience with Residences at Park District. We're thrilled to hear that Brittany provided exceptional service and that you enjoyed the property and its amenities. Your recommendation means a lot to us, and we look forward to continuing to deliver top-notch experiences.
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Data Sources
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