Five-Unit Apartment
For Sale
$749,000
1511 Clover Ln, Fort Worth, TX 76107
Four residences feature updated kitchens and bathrooms, with all five units occupied.
Property Size3,250 SF
Price / SF$230.46
Days on Market55
Property Features for 1511 Clover Ln
General Information
Standard status
Active
Size
3,250 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
5
Building Details
Year Built
1933
Listing Agency:
Franks Realty International
Listed By:
Kris Franks Franks · License #0586589
(817) 720-5500
Source:
Brandeekelley
Added: Aug 23
Changed: Oct 1
Last Checked: Oct 7 at 2:24PM
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 Franks Realty International
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Investment Insights
Based on property information with market context.
This apartment property contains five residences, including a primary building with four renovated units: three one-bedroom apartments and one studio. Each residence has an individual floor plan, while updated kitchens and bathrooms are paired with preserved period details. A decorative fireplace dating to the 1930s and a formal foyer add architectural character to the interior.
The property is near Fort Worth’s Cultural District and within walking distance of museums, restaurants, bars, and UNT Health Fort Worth. The surrounding setting includes arts, dining, entertainment, and educational destinations. All five units are reported occupied, and the property has undergone multiple improvements over time.
The property is near Fort Worth’s Cultural District and within walking distance of museums, restaurants, bars, and UNT Health Fort Worth. The surrounding setting includes arts, dining, entertainment, and educational destinations. All five units are reported occupied, and the property has undergone multiple improvements over time.
Key Highlights
- Five total apartment units
- Main building includes three one‑bedroom units and one studio
- Four residences have been fully renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,420
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,400
$988.4K
Cap Rate 7%
$706,000
$706.0K
Cap Rate 9%
$549,111
$549.1K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$100.6K $30.96/SF
− Vacancy
−$10.8K −$3.31/SF
EGI
$89.9K $27.65/SF
− OpEx
−$40.4K −$12.44/SF
NOI
$49.4K $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%
$988,400
Cap Rate 7%
$706,000
Cap Rate 9%
$549,111
Alternative Uses
Best Use
Apartment 5plus
$706.0K
$617.8K – $823.7K
NOI $49,420 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,641 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 76107, TX
31,591
Population
17,957
Households
1.8
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
10.7 sq mi
ZIP Area
2,952
Density / Sq Mi
$79,473
Median Household Income
$54,461
Median Earnings
$1,501
Median Rent
$431,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four residences feature updated kitchens and bathrooms, with all five units occupied.
Where is this apartment building located?
The property is located at 1511 Clover Ln Fort Worth, TX.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Five total apartment units; Main building includes three one‑bedroom units and one studio; Four residences have been fully renovated
