14-Unit Gated Apartment
For Sale
Contact for pricing
104 College Avenue, Fort Worth, TX 76104
Boutique residential income property with multiple floorplans, gated common areas, tenant parking, and renovated interiors.
Property Size1,176 SF
Price / SF$1.66
Days on Market54
Property Features for 104 College Avenue
General Information
Standard status
Active
Size
1,176 SF
Property subtype
Apartment
Site & Location
Neighborhood
Bricktown
Building Details
Year Built
2013
Listing Agency:
Ready Real Estate LLC
(817) 569-8200
Listed By:
Stephanne Russell · License #0751997
Source:
Lonestarluxuryrealty
Added: Sep 11
Changed: Oct 29
Last Checked: Nov 1 at 5:12AM
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 Ready Real Estate LLC
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Investment Insights
Based on property information with market context.
This 14-unit residential income property offers studio, one-bedroom, and two-bedroom floorplans in a gated community. Individual units feature open-concept layouts, stained concrete or hardwood flooring, updated fixtures, full-sized stacked washer-dryers, refrigerators with ice makers, and private balconies in select residences. Aesthetic improvements include new granite counters, flooring, and light fixtures. The property also includes a gated tenant courtyard, a dedicated parking lot, and four rentable garages. The featured first-floor apartment has its own gated entrance and enclosed outdoor area.
Located steps from Magnolia Avenue, the community provides convenient access to the surrounding historic setting and downtown. Residents are responsible for utilities, and the property permits cats and dogs subject to a two-pet limit and a 40-pound dog weight limit.
Located steps from Magnolia Avenue, the community provides convenient access to the surrounding historic setting and downtown. Residents are responsible for utilities, and the property permits cats and dogs subject to a two-pet limit and a 40-pound dog weight limit.
Key Highlights
- 14‑unit community with studio, one‑bedroom, and two‑bedroom floorplans
- Gated tenant courtyard and dedicated parking lot
- Four rentable garages available on a first‑come basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,882
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,640
$357.6K
Cap Rate 7%
$255,457
$255.5K
Cap Rate 9%
$198,689
$198.7K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$36.4K $30.96/SF
− Vacancy
−$3.9K −$3.31/SF
EGI
$32.5K $27.65/SF
− OpEx
−$14.6K −$12.44/SF
NOI
$17.9K $15.21/SF
Area
Fort Worth, 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%
$357,640
Cap Rate 7%
$255,457
Cap Rate 9%
$198,689
Alternative Uses
Best Use
Apartment 5plus
$255.5K
$223.5K – $298.0K
NOI $17,882 @ 7.0% cap · market cap 917.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$427.2K
$373.8K – $498.4K
NOI $29,903 @ 7.0% cap · market cap 1,533.49%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
5,009
Businesses Nearby
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Business Placement
Demographics for 76104, TX
21,571
Population
9,605
Households
2.2
Avg Household Size
32
Median Age
21%
College-Educated
74%
High-School Grad
5.9 sq mi
ZIP Area
3,656
Density / Sq Mi
$56,848
Median Household Income
$38,131
Median Earnings
$1,385
Median Rent
$145,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Boutique residential income property with multiple floorplans, gated common areas, tenant parking, and renovated interiors.
Where is this residential income property located?
The property is located at 104 College Avenue Fort Worth, TX.
What are key features of this property?
This property features: 14‑unit community with studio, one‑bedroom, and two‑bedroom floorplans; Gated tenant courtyard and dedicated parking lot; Four rentable garages available on a first‑come basis
