Five-Unit Furnished Apartment
For Sale
$2,199,999
4031 Rawlins Street, Dallas, TX 75219
Each residence offers two bedrooms, two baths, and in-unit laundry equipment.
Property Size4,368 SF
Price / SF$503.66
Days on Market65
Property Features for 4031 Rawlins Street
General Information
Standard status
Active
Size
4,368 SF
Total Parking Spaces
5
Property subtype
HotelMotel
Site & Location
Neighborhood
Turtle Creek
Highway Access
Yes
Units
Unit Mix
5 x 2BR/2BA
Multifamily Units
5
Additional Details
Furnished
Yes
Amenities
in-unit washer and dryer
Building Details
Year Built
1926
Buildings
2
Listing Agency:
EXP REALTY
(888) 519-7431
Listed By:
Kyla Young · License #0778491
Source:
Lonestarluxuryrealty
Added: Aug 21
Changed: Oct 12
Last Checked: Oct 23 at 9:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY
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Investment Insights
Based on property information with market context.
This five-unit apartment property comprises two buildings on a single lot: a two-story, four-unit brick structure and a separate single-family residence. All five residences are arranged with two bedrooms and two bathrooms and include in-unit washers and dryers. Furnishings convey with the sale. Completed capital improvements include a replaced roof, new HVAC systems across all units, updated water heaters, replacement windows and doors, and pier-and-beam foundation work on the main building.
The property is located one mile from UT Southwestern Medical Center and Children’s Medical Center, with Parkland Memorial Hospital and the broader medical district also nearby. The site includes five parking spaces and has no HOA. Highland Park, Uptown, Love Field, the Dallas North Tollway, and 75 Central Expressway are within minutes. The property is also identified as eligible for a 1031 exchange.
The property is located one mile from UT Southwestern Medical Center and Children’s Medical Center, with Parkland Memorial Hospital and the broader medical district also nearby. The site includes five parking spaces and has no HOA. Highland Park, Uptown, Love Field, the Dallas North Tollway, and 75 Central Expressway are within minutes. The property is also identified as eligible for a 1031 exchange.
Key Highlights
- Five furnished residences with all furnishings included in the sale
- Two‑story four‑unit brick building plus detached single‑family home on one lot
- Each unit includes 2 bedrooms, 2 bathrooms, and an in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,420
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,328,400
$1.3M
Cap Rate 7%
$948,857
$948.9K
Cap Rate 9%
$738,000
$738.0K
Market Conditions
NOI Build-Up for 4,368 SF
Gross rent
$135.2K $30.96/SF
− Vacancy
−$14.5K −$3.31/SF
EGI
$120.8K $27.65/SF
− OpEx
−$54.3K −$12.44/SF
NOI
$66.4K $15.21/SF
Area
Dallas, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,328,400
Cap Rate 7%
$948,857
Cap Rate 9%
$738,000
Alternative Uses
Best Use
Apartment 5plus
$948.9K
$830.3K – $1.11M
NOI $66,420 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.24M
$4.59M – $6.11M
NOI $366,887 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,966
Businesses Nearby
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Business Placement
Demographics for 75219, TX
27,885
Population
19,190
Households
1.5
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
2.3 sq mi
ZIP Area
12,124
Density / Sq Mi
$92,541
Median Household Income
$70,549
Median Earnings
$1,751
Median Rent
$377,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence offers two bedrooms, two baths, and in-unit laundry equipment.
Where is this apartment building located?
The property is located at 4031 Rawlins Street Dallas, TX.
What is the asking price?
The asking price for this property is $2,199,999.
What are key features of this property?
This property features: Five furnished residences with all furnishings included in the sale; Two‑story four‑unit brick building plus detached single‑family home on one lot; Each unit includes 2 bedrooms, 2 bathrooms, and an in‑unit washer and dryer
