Multifamily Property With Additional
For Sale
$315,000
1000 Southeast Parkway, Azle, TX 76020
Multiple residential living spaces support owner occupancy alongside potential rental use.
Property Size1,716 SF
Price / SF$183.57
Days on Market53
Property Features for 1000 Southeast Parkway
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Apartment
Zoning
heavy commercial
Property Condition
Severity
Repairs Needed
Evidence
needs a little TLC
Additional Details
Multifamily Units
4
Building Details
Year Built
1960
Listing Agency:
Carl Russell, Broker
(940) 399-8186
Listed By:
Carl Russell · License #0731087
Source:
Lonestarluxuryrealty
Added: Aug 15
Changed: Oct 4
Last Checked: Oct 5 at 6:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carl Russell, Broker
Investment Insights
Based on property information with market context.
This multifamily property at 1000 Southeast Parkway includes a primary house, a garage apartment, a separate house, and an additional living space. The configuration provides several distinct residential areas within one property and can accommodate owner occupancy while other spaces are used for rental purposes.
The property is zoned for heavy commercial use, adding a commercial land-use designation to its existing multifamily configuration. Built in 1960, the asset requires TLC and presents a combination of residential improvements and broader zoning flexibility.
The property is zoned for heavy commercial use, adding a commercial land-use designation to its existing multifamily configuration. Built in 1960, the asset requires TLC and presents a combination of residential improvements and broader zoning flexibility.
Key Highlights
- Primary house, garage apartment, separate house, and additional living space
- Owner‑occupant configuration with potential rental use of other spaces
- Zoned for heavy commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,094
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,880
$521.9K
Cap Rate 7%
$372,771
$372.8K
Cap Rate 9%
$289,933
$289.9K
Market Conditions
NOI Build-Up for 1,716 SF
Gross rent
$53.1K $30.96/SF
− Vacancy
−$5.7K −$3.31/SF
EGI
$47.4K $27.65/SF
− OpEx
−$21.3K −$12.44/SF
NOI
$26.1K $15.21/SF
Area
Parker County, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,880
Cap Rate 7%
$372,771
Cap Rate 9%
$289,933
Alternative Uses
Best Use
Apartment 5plus
$372.8K
$326.2K – $434.9K
NOI $26,094 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.71M
$1.49M – $1.99M
NOI $119,359 @ 7.0% cap · market cap 37.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 76020, TX
33,469
Population
13,355
Households
2.5
Avg Household Size
42
Median Age
20%
College-Educated
89%
High-School Grad
64.9 sq mi
ZIP Area
516
Density / Sq Mi
$91,000
Median Household Income
$48,559
Median Earnings
$1,246
Median Rent
$272,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple residential living spaces support owner occupancy alongside potential rental use.
Where is this multifamily property located?
The property is located at 1000 Southeast Parkway Azle, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Primary house, garage apartment, separate house, and additional living space; Owner‑occupant configuration with potential rental use of other spaces; Zoned for heavy commercial use
