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Royal Palm 5520 Gaston Ave 23 Unit Apartment Building $3,500,000 ($152,174/Unit) 4.64% Cap Rate Dallas, TX 75214
Investment Highlights
- Just a few minutes drive from the heart of Downtown Dallas, offering easy access to a multitude of employment, entertainment, and cultural venues.
- Close to White Rock Lake and surrounding parkland, providing residents with ample outdoor activities like jogging, cycling, rowing, and picnic spots.
Executive Summary
5520 Gaston Ave is a fully modernized, 23 unit multifamily community situated in one of Dallas’ most dynamic and infill submarkets. This meticulously updated asset offers a turnkey investment with significant curb appeal, contemporary unit interiors, and thoughtful outdoor amenity enhancements tailored to today’s renter preferences.
The property was thoroughly renovated in 2018 and delivers a fresh, elevated living experience while maximizing long-term operational performance. Each unit features high-quality upgrades including new sheetrock throughout, brand new appliances, modern countertops, premium flooring, and fully renovated bathrooms, creating an attractive design aesthetic and reinforcing resident satisfaction and retention. Outdoor living has been thoughtfully reimagined with a beautifully upgraded courtyard offering artificial turf, ambient outdoor lighting, and inviting firepit seating, providing residents with a compelling communal space that enhances lifestyle value and differentiates the property in the competitive Dallas rental market.
Located on Gaston Ave, the property benefits from excellent accessibility to local employment centers, retail and dining destinations, and major transportation corridors, making it a highly desirable address for a broad spectrum of renters.
5520 Gaston Ave presents investors with an exceptional opportunity to acquire a stabilized, move-in ready asset with attractive value-add appeal and long-term income potential in the thriving Dallas multifamily market.
The property was thoroughly renovated in 2018 and delivers a fresh, elevated living experience while maximizing long-term operational performance. Each unit features high-quality upgrades including new sheetrock throughout, brand new appliances, modern countertops, premium flooring, and fully renovated bathrooms, creating an attractive design aesthetic and reinforcing resident satisfaction and retention. Outdoor living has been thoughtfully reimagined with a beautifully upgraded courtyard offering artificial turf, ambient outdoor lighting, and inviting firepit seating, providing residents with a compelling communal space that enhances lifestyle value and differentiates the property in the competitive Dallas rental market.
Located on Gaston Ave, the property benefits from excellent accessibility to local employment centers, retail and dining destinations, and major transportation corridors, making it a highly desirable address for a broad spectrum of renters.
5520 Gaston Ave presents investors with an exceptional opportunity to acquire a stabilized, move-in ready asset with attractive value-add appeal and long-term income potential in the thriving Dallas multifamily market.
Property Facts
| Price | $3,500,000 | Building Class | B |
| Price Per Unit | $152,174 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 14,545 SF |
| Cap Rate | 4.64% | Average Occupancy | 91% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1959/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.51/1,000 SF |
| Apartment Style | Low-Rise | Cross Streets | N. Beacon Street |
| Zoning | PD-99 - PD-99 | ||
| Price | $3,500,000 |
| Price Per Unit | $152,174 |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.55 AC |
| Building Size | 14,545 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1959/2018 |
| Parking Ratio | 1.51/1,000 SF |
| Cross Streets | N. Beacon Street |
| Zoning | PD-99 - PD-99 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Patio
Site Amenities
- Laundry Facilities
- Playground
- Gated
- Lounge
- Pet Washing Station
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | 610 - 660 |
| 2+2 | 4 | - | 840 |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $2,684,610 | |
| Land Assessment | $415,390 | Total Assessment | $3,100,000 |
Property Taxes
Parcel Numbers
Land Assessment
$415,390
Improvements Assessment
$2,684,610
Total Assessment
$3,100,000
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Royal Palm | 5520 Gaston Ave
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