421 Worth StGrapevine, TX 76051

Property Details for 421 Worth St

Property type

Land

Property subtype

Apartment buildings

Description

This exceptional 32-unit apartment complex, situated in the heart of historic downtown Grapevine, Texas, presents a compelling investment opportunity. Built in 1972, the property comprises eight two-bedroom and twenty-four one-bedroom units, all individually metered for electricity. Its prime location offers residents easy access to Main Street's vibrant shops, restaurants, and entertainment, as well as excellent walking, running, and biking trails. Lake Grapevine, with its boating and fishing opportunities, is a short drive away. Conveniently located near TEX Rail, Grapevine Main, Harvest Hall & Hotel Vin, and just ten minutes from DFW International Airport, this property benefits from exceptional accessibility. The property is being sold "as is," reflecting its price of $4,700,000. A projected capitalization rate exceeding 4.8% is anticipated, with potential for future rent increases. The strong demand for rental properties in downtown Grapevine ensures a competitive market with consistently high rent growth. This is a rare chance to acquire a well-positioned multifamily asset in a thriving Texas town.

Location Insight

City

Grapevine

County

Texas

State

Texas

Latitude

32.938

Longitude

-97.0737

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