Gilbert Ave Apts

The offering is a well maintained, performing six-unit apartment complex in the north Oak Lawn area. It is 100% occupied and has a walk score of 83.

The property was built in 1974. Per DCAD, the building square footage is approximately 5,886. The lot is approximately 6,750 sq ft. The roof is flat with a TPO covering. The foundation is slab. Four units are 1 bedroom/1.5 bath lofts, two units are 1 bedroom/1 bath flats. The HVAC is provided by individual central HVAC systems. Four units have “all-in-one” washer/dryers. There is also a free laundry care center. All units are individually metered for electricity and are paid for by the tenants. Parking is off street.

The owners acquired the asset in 2013. During their ownership, they performed many upgrades including, but not limited to:

• Replaced roof with 30 year TPO

• Replaced kitchen and bath in all units

• Replaced HVAC in all units

• Replaced flooring and refinished all hardwood floors

• Painted building

• Repaved front driveway

• Replaced Water Heaters

• Replaced all appliances with SS

• Replaced windows in units 3 and 5

• New lighting and plumbing fixtures

• Replaced washer/dryer in laundry room

• Replaced stairs (iron) in front of the building going to units 2 and 3

• Added cover over rooftop stairs

According to the Realtors Property Resource Trade Area report for Dallas, TX 76206:

• The Average Household Income is $130,260

• The Average Disposable Income is $96,360

• The Median Household Income is $84,710

• The median age is 37.8 years

• The average household size is 1.52

• The ZIP code has a Median Estimated Home Value of $425,000, which has increased 2.8% over the last twelve months

Oak Lawn is one of the wealthier areas of metropolitan Dallas, with a population consisting  mainly  of  urban  professionals.  The  area  is  peppered  with  upscale townhouses,  condos,  apartments,  and  duplexes.  Along  the  Uptown  portion  on McKinney Avenue and along Turtle Creek Boulevard, there are many new high-rise condominiums and apartments. It is also a very diverse neighborhood with well-established areas of older, single-family homes. The area is an excellent rental market due to its proximity to employment centers and the central business district of Dallas.