For Sale
$6,120,000

5833 Shadydell DrFort Worth, TX 76135

36-unit townhome complex, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a portfolio of nine quadraplexes totaling 36 two-story townhomes in Fort Worth, Texas. Built in 1985 and significantly renovated between 2021 and 2023, this Class B multifamily property boasts 39,168 square feet on a 2.8-acre lot. The property currently enjoys a 90% occupancy rate, generating a Net Operating Income (NOI) of $367,678, representing a 6.01% cap rate. A pro-forma NOI of $428,018 projects a 6.99% cap rate, reflecting the potential for increased rental income. Each unit features two bedrooms, one and a half bathrooms, and approximately 1088 square feet of living space, including a patio and covered carport parking for two vehicles. Thirty units have been fully renovated, while six units offer an opportunity for value-add improvements to further enhance rental income. The property is situated in a high-employment area near the Fort Worth Marina and BNSF Railway, ensuring strong rental demand. The asking price is $6,120,000, or $170,000 per unit, significantly below the average townhome price in the Dallas-Fort Worth area. The current average effective rent is $1,300, while market rent averages $1,450-$1,500, presenting a clear path to increased cash flow. All current tenants are on annual leases. The property is zoned residential and offers potential for individual parcel sales to cash buyers with a 30-day closing. This is a compelling value-add investment with significant upside potential.

Highlights

  • High occupancy rates in a strong Fort Worth rental market.
  • Exceptional value at $170,000 per unit, significantly below the DFW average.
  • Opportunity to utilize bonus depreciation tax benefits.
  • Prime location in a high-employment area near the Fort Worth Marina and BNSF Railway.
  • Two-bedroom, one-and-a-half-bath townhomes (1088 sq ft), with patios and covered carport parking.
  • 30 renovated units; potential for value enhancement by renovating the remaining six.

Property Details for 5833 Shadydell Dr

Property type
Residential income homes, Apartment buildings
Square Feet
39,168 SF
Class
B
Year Built
1985
Buildings
9
Stories
2
Lot Size (sq. ft)
121,968 SF
Units
36

Location Insight

City
Fort Worth
County
Tarrant
State
Texas
Latitude
32.8217417
Longitude
-97.4159475
5833 Shadydell Dr, Fort Worth, Texas

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5833 Shadydell Dr
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