5722 Gaston Ave, Dallas, TX 75214

$1,450,000

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List Price: $1,450,000
Status: ACTIVE
MLS#: 21324260
Subtype: ResidentialIncome
Construction Status: Preowned
Year Built: 1958
Lot Size: 14,069
Acres: 0.32
Subdivision: Munger Place Add Sec 02
Building Name: Lakewood Apartments

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Property Description

Lakewood offers the opportunity to acquire a 12-unit apartment community that has been thoughtfully maintained by the same private owner for nearly a decade. Throughout the ownership period, the property has undergone a series of meaningful capital improvements designed to enhance both its physical condition and operational efficiency. Ownership has invested more than $226k into the asset, including the conversion of all units to central HVAC, individual utility metering, plumbing upgrades, a new central water heater, interior renovations, landscape improvements, and a new perimeter security gate. Additionally, the roof was replaced in 2020, further reducing future capital requirements for a new owner. Collectively, these improvements have addressed many of the major building systems that investors typically evaluate when acquiring a vintage apartment community. The community offers a mix of 1 and 2 bedroom units, with effective rents averaging $1,072. Please see OM in Transaction Desk and contact agent specified in notes section for questions, access to financials and tours.

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