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2701 Hemphill StFort Worth, TX 76110

20-unit apartment building, fully renovated.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 20-unit apartment building, the Fontaine Apartments, presents a compelling value-add investment opportunity in the rapidly growing city of Fort Worth, Texas. Built in 1961 and situated on a 0.34-acre lot, this Class C property boasts 13,780 square feet of net rentable space across a two-story building. All 20 one-bedroom, one-bathroom units, each approximately 689 square feet, have undergone complete renovations. The property benefits from recent capital improvements including a roof replacement four years ago and a fresh exterior paint job in 2022. Currently operating at 85% occupancy, the Fontaine Apartments offer significant upside potential. Its prime location, less than a mile from I-35W and within a mile of Daggett Elementary and Middle School, provides exceptional accessibility. The property is also conveniently located near the trendy Magnolia Avenue, known for its vibrant atmosphere, and is approximately two miles from the Fort Worth Medical District, a major economic driver generating a $5.5 billion annual economic impact for Tarrant County. The surrounding neighborhood boasts a median income of $55,947 (CoStar data), further supporting the property's strong investment prospects. The Fontaine Apartments are offered free and clear of any existing debt. This turnkey property is ideally positioned to deliver strong returns for the discerning investor. The property's address is 2701 Hemphill St, Fort Worth, TX 76110. The total square footage is 15,000 square feet.

Highlights

  • 10%+ average annual cash-on-cash return over the past five years.
  • Fully renovated, turnkey property.
  • $55,947 area median income within a 5-mile radius.
  • New roof (installed 4 years ago) and recently painted exterior.
  • Two miles from the Fort Worth Medical District ($5.5B economic impact) and Texas Christian University (TCU).
  • Located in Fort Worth, the fastest-growing major city in the US.

Property Details for 2701 Hemphill St

Property type
Apartment buildings
Square Feet
15,000 SF
Class
C
Year Built
1961
Buildings
1
Stories
2
Lot Size (sq. ft)
14,810 SF
Units
20

Location Insight

City
Fort Worth
County
Tarrant
State
Texas
Latitude
32.71314688
Longitude
-97.33144883
2701 Hemphill St, Fort Worth, Texas

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2701 Hemphill St
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