4712 Gaston Ave Dallas, TX 75246

This exceptional investment opportunity presents Gaston Commons, a 38-unit apartment building situated on a 1.14-acre lot in Dallas, Texas. Built in 1960, this Class B property boasts 49,658 square feet of total space, with 30,800 square feet of net rentable area. Currently operating at 89% occupancy, the property comprises a mix of studio and one- to two-bedroom units, with a majority (84%) being two-bedroom apartments. Thirty-three of the 38 units have undergone renovations, demonstrating a commitment to property upkeep and value enhancement. The property benefits from a prime location in Dallas' Peak's Suburban historic district, enjoying high visibility on Gaston Avenue, a thoroughfare with over 15,000 vehicles per day. Significant capital expenditures exceeding $450,000 have been invested by the owner, resulting in proven rent increases of up to $400 on renovated units. Despite this, average rents remain approximately $300 below market comparables, presenting a compelling opportunity for immediate value appreciation. The property's strong performance is further supported by a median household income exceeding $76,000 within a two-mile radius. Sixteen units are currently occupied by Section 8 tenants. Detailed financial information, including a water conservation program option and debt quote, is available in the offering memorandum. The property's address is 4712 Gaston Ave, Dallas, TX 75246, with APN 124564000000.