4712 Gaston Ave Dallas, TX 75246-1082

Property Details for 4712 Gaston Ave

Year built

1960

Construction

FRAME

Lot size

1.14 lot acres

Property size

31,050 SF

Zone code

Z239

Property type

Apartment buildings

APN

124564000000

APU

124564000000

Description

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.

Location Insight

City

Dallas

County

Dallas

State

Texas

Longitude

-96.7707

Latitude

32.7982

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments