Plano Multifamily Investment
1509 F. Avenue, Plano, TX 75074
New
Apartment - Plano, TX
Type:Apartment
Property size:
12,300 SFLot size:
0.75 AcresPrice / SF:
$182/SF- Added:
- May 29, 2026
- Days on Market:
- 2
- Last Refresh:
- May 30 at 5:06 am
Property Features for 1509 F. Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 24
- Bathrooms
- 24
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking
- 16
- Parking features
- Assigned
- Interior features
- Eat-in Kitchen
- Exterior features
- Other, Fence
- Fencing
- Fenced
- Fireplace
- 1
- Appliances
- Cooktop, Cooktop - Electric, Refrigerator
- Standard status
- Active
- APN
- R022000A00701
- Size
- 12,300 SF
- Lot size
- 0.75 Acres
Utilities
- Heating system
- Electric (Heating), Fireplace(s)
- Cooling system
- Ceiling Fan(s), Central Air, Electric
Building Details
- Year built
- 1970
- Floors in Building
- 1
- Flooring type
- Laminate, Tile, Tile - Ceramic
- Building materials
- Brick
- Roof type
- Flat, Tar/Gravel
- Architectural style
- Other
Listing agent Nathan Malka License #0453733 (512) 454-6873
Listing office Central Metro Realty 15808 Ranch Road 620 N #215, Austin, TX (512) 454-6873
Listing date May 29, 2026
MLS# 21283739
Listing URL
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location in Downtown Plano, a highly desirable submarket.
- Significant rent growth potential through repositioning.
- Stable, long‑term tenancy with a 5+ year average stay.
- Recent capital improvements including roof replacement and energy‑efficient windows.
- Below replacement cost investment in a high‑demand area.
- Excellent walkability and public transit access.
Overview
This offering features a 12-unit multifamily property located in Downtown Plano. The property benefits from stable in-place income supported by long-term tenancy, with an average stay of over 5 years. An opportunity exists to increase revenue through gradual repositioning and operational improvements, as current rents are below market for comparable unit sizes. Key capital improvements have been completed, including roof replacement, upgraded flooring, energy-efficient windows, and parking lot enhancements. The property is positioned below replacement cost in a high-demand location with strong fundamentals, including walkability, public transit access, and proximity to major employment centers. The property has a size of 12300 square feet and is situated on a lot of 0.75 acres.
Local 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 | $373.4k | $30.36 |
| − Vacancy | −$42.2k | −$3.43 |
| EGI | $331.2k | $26.93 |
| − OpEx | −$149.1k | −$12.12 |
| NOI | $182.2k | $14.81 |
12,300 SF · lease $30.36/SF/yr · vacancy 11.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.60M
$2.28M – $3.04M
NOI $182,177 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.83M
$2.48M – $3.31M
NOI $198,303 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Plano
- County
- Collin
- State
- Texas
- Longitude
- -96.707011
- Latitude
- 33.020649
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-located 12-unit multifamily property in Downtown Plano, Texas.
Where is this apartment building located?
The property is located at 1509 F. Avenue Plano, TX.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Prime location in Downtown Plano, a highly desirable submarket.; Significant rent growth potential through repositioning.; Stable, long‑term tenancy with a 5+ year average stay.
