Student Housing Apartment
150 South Main Street Euless, TX 76040
For Sale
$2,500,000
Vienna Terrace Apartments is an all-bills-paid multifamily property with 24 units and in-unit HVAC installed in 2024–2025.
Property Size18,840 SF
Price / SF$132.70
Days on Market119
Property Features for 150 South Main Street
General Information
- Standard status
- Active
- Size
- 18,840 SF
- Property subtype
- Multi-Family / Apartment/5Plex+
Building Details
- Year Built
- 1964
Listing Agency:
Covenant Realty Group
(817) 715-1931
Listed By:
Peter Konopka · License #0465328
(817) 715-1931
Source:
Compass
Added: Mar 27
Changed: Jul 23
Last Checked: Jul 23 at 12:37PM
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 Covenant Realty Group
Investment Insights
Based on property information with market context.
Vienna Terrace Apartments is a 24-unit multifamily property constructed in 1964. The mix includes eight 1-bedroom, 1-bath units and sixteen 2-bedroom, 1-bath units. The property has been well maintained and updated over time, with the most recent updates being the installation of individual HVAC units in all apartments during 2024 through 2025.
The community is currently operated as student housing, and the leases are scheduled to end at the conclusion of the semester in May 2026. Access is supported by quick routes to Hwy 183 and Hwy 360, and the property is approximately one mile from DFW International Airport.
Vienna Terrace is offered free and clear of existing debt.
The community is currently operated as student housing, and the leases are scheduled to end at the conclusion of the semester in May 2026. Access is supported by quick routes to Hwy 183 and Hwy 360, and the property is approximately one mile from DFW International Airport.
Vienna Terrace is offered free and clear of existing debt.
Key Highlights
- 24‑unit apartment complex in Euless, TX, built in 1964, with brick construction and a slab foundation
- Unit mix includes eight 1 bed / 1 bath and sixteen 2 bed / 1 bath apartments
- All‑bills‑paid property; student housing operated with leases not renewing at the end of the semester in May 2026
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $254.3k | $13.50 |
| − Vacancy | −$30.0k | −$1.59 |
| EGI | $224.3k | $11.91 |
| − OpEx | −$100.9k | −$5.36 |
| NOI | $123.4k | $6.55 |
18,840 SF · lease $13.50/SF/yr · vacancy 11.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.06M
NOI $123,380 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.63M
$5.80M – $7.73M
NOI $463,916 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Vienna Terrace
Apartment Complex
FAQs
What type of property is this?
Apartment building - Vienna Terrace Apartments is an all-bills-paid multifamily property with 24 units and in-unit HVAC installed in 2024–2025.
Where is this apartment building located?
The property is located at 150 South Main Street Euless, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 24‑unit apartment complex in Euless, TX, built in 1964, with brick construction and a slab foundation; Unit mix includes eight 1 bed / 1 bath and sixteen 2 bed / 1 bath apartments; All‑bills‑paid property; student housing operated with leases not renewing at the end of the semester in May 2026
