For Sale
$1,075,000

1421-1423 Grand AveFort Worth, TX 76164

10-Unit Apartment Building, 6.92% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving Fort Worth, Texas market. Located at 1421-1423 Grand Ave, 76164, in Tarrant County, this property boasts 7,300 square feet and is priced at $1,075,000, offering a strong 6.92% cap rate. Situated within the Dallas-Fort Worth metroplex, the property benefits from proximity to numerous attractions including the Historic Stockyards, Trinity Trails, Fort Worth Museum of Science & History, and Fort Worth Botanic Garden. Recent area developments, such as the new Hotel Drover, further enhance its investment potential. The building features upgraded electrical boxes and meters, and all units include tile or laminate flooring. One unit already has washer/dryer connections, with additional space in one and two-bedroom units to add these amenities. The roof was replaced in 2022, and a vacant garage offers additional possibilities. Significant value-add potential exists through the addition of mini-splits to increase rental income. Utilities are efficiently managed with water, sewage, and gas master-metered, while electricity is individually metered. Apartment amenities include high-speed internet access, air conditioning and heating, ceiling fans, cable readiness, and kitchen appliances (microwave, refrigerator, and freezer). Walk-in closets are also featured. This property represents a strong value-add opportunity in a prime location.

Highlights

  • Prime location in the Dallas-Fort Worth Metroplex.
  • Nearby new development, including the Hotel Drover.
  • Close proximity to Stockyards, Trinity Trails, Fort Worth Museum of Science & History, and Fort Worth Botanic Garden.
  • Upgraded electrical boxes and meters.
  • One unit with washer/dryer connections; others have space for addition.
  • All units feature tile or laminate flooring.

Property Details for 1421-1423 Grand Ave

Property type
Apartment buildings
Square Feet
7,300 SF
Units
10

Location Insight

City
Fort Worth
County
Tarrant
State
Texas
Latitude
32.7713706
Longitude
-97.3593577
1421-1423 Grand Ave, Fort Worth, Texas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1421-1423 Grand Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message