Lakewood offers the opportunity to acquire a 12-unit apartment community that has been thoughtfully maintained by the same private owner for nearly a decade. Throughout the ownership period, the property has undergone a series of meaningful capital improvements designed to enhance both its physical condition and operational efficiency. Ownership has invested more than $226k into the asset, including the conversion of all units to central HVAC, individual utility metering, plumbing upgrades, a new central water heater, interior renovations, landscape improvements, and a new perimeter security gate. Additionally, the roof was replaced in 2020, further reducing future capital requirements for a new owner. Collectively, these improvements have addressed many of the major building systems that investors typically evaluate when acquiring a vintage apartment community. The community offers a mix of 1 and 2 bedroom units, with effective rents averaging $1,072. Please see OM in Transaction Desk and contact agent specified in notes section for questions, access to financials and tours.
| Listing Id: | 21324260 |
|---|---|
| List Price: | $1,450,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Apartment |
| Status: | Closed |
| Unexempt Taxes: | $29,393 |
| Lot Size Square Feet: | 14,069.8800 |
| Lot Size Acres: | 0.323 |
| Waterfront?: | No |
| City: | Dallas |
| County Or Parish: | Dallas |
| Subdivision Name: | Munger Place Add Sec 02 |
| Postal Code: | 75214 |
| Year Built: | 1958 |
| Unit Count: | 2 |
| Accessibility Features Yn: | No |
| Appliances: | Dishwasher,Disposal,Electric Range,Microwave,Refrigerator |
| Association Type: | None |
| Basement Yn: | No |
| Building Area Source: | Owner |
| Building Area Total: | 8,785.00 |
| Buyer Financing: | Seller Financing |
| Complex Name: | Lakewood Apartments |
| Construction Materials: | Brick |
| Cooling: | Ceiling Fan(s), Central Air, Electric |
| Directions: | Google maps |
| Elementary School: | Lipscomb |
| Elementary School Name: | Lipscomb |
| Flooring: | Laminate |
| Foundation Details: | Pillar/Post/Pier |
| Heating: | Central, Electric |
| High School Name: | Woodrow Wilson |
| Interior Features: | Cable TV Available, Granite Counters, High Speed Internet Available |
| Levels: | Two |
| Lot Size Area: | 0.3230 |
| Lot Size Units: | Acres |
| Middle School Name: | Long |
| Multi Parcel ID: | No |
| Municipal Utility District?: | No |
| Number Of Buildings: | 1 |
| Number Of Parking Spaces: | 11 |
| Parking Features: | Asphalt, On Site |
| Pool?: | No |
| Possession: | Closing/Funding |
| Roof: | Asphalt |
| School District: | Dallas ISD |
| Smart Home Features Appor Pass Y: | 0 |
| Utilities: | City Sewer, City Water |
| Will Subdivide: | No |
| Year Built Details: | Preowned |
Listing Courtesy of: GSFREA LLC
Listing Agent: Esther Cho
(682) 225-4291
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North Texas Real Estate Information Systems, Inc. data last updated on November 03, 2026 08:59 AM - CT
Property Last Updated: November 03, 2026 08:59 AM - CT
