Twelve-Unit Multifamily
1509 F Avenue Unit 12 Plano, TX 75074
1509 F Avenue Unit 12, Plano, TX, 75074
$2,249,000
For Sale
$2,249,000
Twelve-unit income property with recent capital improvements and long-term tenancy, positioned in Downtown Plano.
Property Size12,300 SF
Price / SF$182.85
Days on Market88
Property Features for 1509 F Avenue Unit 12
General Information
- Standard status
- Active
- Size
- 12,300 SF
- Property subtype
- Multi-Family / Apartment/5Plex+
Building Details
- Year Built
- 1970
Listing Agency
Central Metro Realty
(214) 418-4335
Listed by
Nathan Malka · License #0453733
(214) 418-4335
Source
Compass
Added: Apr 20 Checked: Jul 16 at 6:53 am
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 Central Metro Realty
Investment Insights
Based on property information with market context.
The property is a 12-unit multifamily building offered for sale, with in-place income supported by long-term tenancy, including a 5+ year average stay. The building has completed key capital improvements intended to reduce near-term expenditure risk, including roof replacement, upgraded flooring, energy-efficient windows, and parking lot enhancements.
Located at 1509 F Avenue, Unit 12, in Downtown Plano, the offering is presented as well-positioned within an active and supply-constrained submarket. The remarks also note walkability, access to public transit, and proximity to major employment centers as part of the surrounding demand profile.
For investors or operators seeking a smaller multifamily platform, the current configuration provides an opportunity to continue operating the property with an eye toward gradual revenue improvement. The seller’s materials describe current rents as below market for comparable unit sizes, along with an achievable rent growth strategy through gradual repositioning and operational improvements.
Located at 1509 F Avenue, Unit 12, in Downtown Plano, the offering is presented as well-positioned within an active and supply-constrained submarket. The remarks also note walkability, access to public transit, and proximity to major employment centers as part of the surrounding demand profile.
For investors or operators seeking a smaller multifamily platform, the current configuration provides an opportunity to continue operating the property with an eye toward gradual revenue improvement. The seller’s materials describe current rents as below market for comparable unit sizes, along with an achievable rent growth strategy through gradual repositioning and operational improvements.
Key Highlights
- 12‑unit multifamily property in downtown Plano with long‑term tenancy and a 5+ year average stay
- Recent capital improvements include roof replacement, upgraded flooring, energy‑efficient windows, and parking lot enhancements
- All‑electric building with central air and electric heating; interior features include eat‑in kitchen and window coverings
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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Beta Renovations and Construction
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Twelve-unit income property with recent capital improvements and long-term tenancy, positioned in Downtown Plano.
Where is this apartment building located?
The property is located at 1509 F Avenue Unit 12 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: 12‑unit multifamily property in downtown Plano with long‑term tenancy and a 5+ year average stay; Recent capital improvements include roof replacement, upgraded flooring, energy‑efficient windows, and parking lot enhancements; All‑electric building with central air and electric heating; interior features include eat‑in kitchen and window coverings
