4611 Samuell Blvd, Dallas, TX 75228

46 Eleven is a 79-unit apartment community built in 1964, consisting of three buildings with brick veneer and stucco exteriors on concrete slab foundations. The property’s pitched composition roofs were replaced within the last five years. Heating and cooling are provided by a two-pipe chiller that was replaced in 2018, and electricity is master metered. Recent capital improvements include replacement of all interior electric panels, copper wiring, new windows and patio sliders, and installation of a new boiler. All 79 units have been renovated with updated finishes and amenities, including new cabinets, flooring, backsplash, black appliances, and new Formica countertops, with 100% of units offering 2-bedroom layouts.

The community is located in Dallas, Texas, about 10 minutes east of Downtown Dallas on Interstate 30. The setting is described as quiet while remaining near major employment centers, including the I-30 industrial corridor and the Dallas Medical District. The property is also positioned close to retail, grocery, and restaurants along I-30, with White Rock Lake nearby.

The offering is noted as part of Chapter 11 bankruptcy proceedings for distressed ownership; however, the property itself is described as not distressed. The remarks state the community is well occupied, with occupancy held over 94% for at least the past 60 days. Reported financial highlights include a going-in 7% cap rate and 13% cash-on-cash yields from day one, and the sale is described as free and clear of existing debt, with financing sizing for 80% fixed-rate agency debt. With recent roof, systems, and full unit renovations, a new owner can operate with reduced near-term capital demands while maintaining the property’s established tenancy.