Renovated 24-Unit Apartment
4526 Munger Avenue Dallas, TX 75204
For Sale
$2,600,000
Renovated in 2020, this 24-unit apartment complex features in-unit laundry, updated kitchens, and gated on-site parking.
Property Size8,983 SF
Price / SF$289.44
Days on Market313
Property Features for 4526 Munger Avenue
General Information
- Standard status
- Active
- Size
- 8,983 SF
- Property subtype
- Multi-Family / Apartment/5Plex+
Building Details
- Year Built
- 1958
Listing Agency:
Butler Property Company
(214) 649-1822
Listed By:
William Butler · License #0490445
(214) 649-1822
Source:
Compass
Added: Sep 15, 2025
Changed: Jul 23
Last Checked: Jul 23 at 8:59AM
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 Butler Property Company
Investment Insights
Based on property information with market context.
The Venice is a 24-unit boutique apartment complex that was completely renovated in 2020. Each unit includes in-unit laundry, recessed lighting in the ceilings, and updated kitchens with quartz countertops and full stainless-steel appliances. Laminate flooring runs throughout the units, which also offer large living and bedroom spaces. Parking is available on the property with gated parking.
The property is located in East Dallas, less than 3 minutes from Knox-Henderson, Lower Greenville, and Downtown. It is surrounded by high-end townhomes, supporting a walkable residential setting.
With 24 units and unit-level amenities including in-unit laundry and updated finishes, the property is designed for tenant-ready occupancy following its 2020 renovation.
The property is located in East Dallas, less than 3 minutes from Knox-Henderson, Lower Greenville, and Downtown. It is surrounded by high-end townhomes, supporting a walkable residential setting.
With 24 units and unit-level amenities including in-unit laundry and updated finishes, the property is designed for tenant-ready occupancy following its 2020 renovation.
Key Highlights
- 24‑unit boutique apartment complex, 2 stories, built in 1958
- Completely renovated in 2020 with in‑unit laundry, recessed ceiling lighting, and laminate flooring throughout
- Updated kitchens with quartz countertops and full stainless‑steel appliance package per unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.1k | $30.96 |
| − Vacancy | −$29.8k | −$3.31 |
| EGI | $248.4k | $27.65 |
| − OpEx | −$111.8k | −$12.44 |
| NOI | $136.6k | $15.21 |
8,983 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,596 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.78M
$9.43M – $12.58M
NOI $754,520 @ 7.0% cap · market cap 29.02%
Zoning and permitted uses should be independently verified with local authorities.
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FAQs
What type of property is this?
Apartment building - Renovated in 2020, this 24-unit apartment complex features in-unit laundry, updated kitchens, and gated on-site parking.
Where is this apartment building located?
The property is located at 4526 Munger Avenue Dallas, TX.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 24‑unit boutique apartment complex, 2 stories, built in 1958; Completely renovated in 2020 with in‑unit laundry, recessed ceiling lighting, and laminate flooring throughout; Updated kitchens with quartz countertops and full stainless‑steel appliance package per unit
