Three-Unit Townhome
For Sale
$1,245,000
506 508 510 W West Oak St, Weatherford, TX 76086
Fully occupied residential income property with attached garages and private fenced yards.
Property Size4,809 SF
Price / SF$258.89
Days on Market260
Property Features for 506 508 510 W West Oak St
General Information
Standard status
Active
Size
4,809 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Parking per Unit
2
Amenities
private fenced back yard
porch
laundry room
Building Details
Year Built
2023
Buildings
3
Listing Agency:
The Platinum Group RE, LLC
Listed By:
Phillip Sanders (817) 360-6203
(817) 341-6156
Source:
Dfwareahousehunt
Added: Jan 27
Changed: Oct 1
Last Checked: Oct 12 at 8:17PM
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 The Platinum Group RE, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property consists of townhomes built in 2023, with 4,809 SF of total property size. Each residence includes two bedrooms, two bathrooms, an attached two-car garage, a laundry room, a mud bench, and closet storage. Interior features include 10-foot ceilings, granite kitchen countertops, stainless steel appliances, custom cabinetry, a pantry, and an island with pendant lighting. Each unit also has a private fenced backyard and porch.
The property is located at 506, 508, and 510 W West Oak St in Weatherford’s historical district. Downtown Weatherford Historical Square shops, restaurants, and bars are within walking distance, as is a grocery store. All three units have remained 100% occupied since new, and each occupant has expressed a desire to continue leasing.
The property is located at 506, 508, and 510 W West Oak St in Weatherford’s historical district. Downtown Weatherford Historical Square shops, restaurants, and bars are within walking distance, as is a grocery store. All three units have remained 100% occupied since new, and each occupant has expressed a desire to continue leasing.
Key Highlights
- Three townhomes, each with 2 bedrooms and 2 baths
- 4,809 SF property built in 2023
- 100% occupied since new; occupants have expressed a desire to continue their leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,559
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,691,180
$1.7M
Cap Rate 7%
$1,207,986
$1.2M
Cap Rate 9%
$939,544
$939.5K
Market Conditions
NOI Build-Up for 4,809 SF
Gross rent
$134.5K $27.96/SF
− Vacancy
−$13.7K −$2.84/SF
EGI
$120.8K $25.12/SF
− OpEx
−$36.2K −$7.54/SF
NOI
$84.6K $17.58/SF
Area
Parker County, TX
Vacancy
10.16%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,691,180
Cap Rate 7%
$1,207,986
Cap Rate 9%
$939,544
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,559 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.04M
$914.1K – $1.22M
NOI $73,126 @ 7.0% cap · market cap 5.87%
Theoretical Best
Industrial
$4.78M
$4.18M – $5.57M
NOI $334,496 @ 7.0% cap · market cap 26.87%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 76086, TX
21,429
Population
9,689
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
13.8 sq mi
ZIP Area
1,553
Density / Sq Mi
$61,415
Median Household Income
$38,347
Median Earnings
$1,389
Median Rent
$235,100
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
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied residential income property with attached garages and private fenced yards.
Where is this triplex located?
The property is located at 506 508 510 W West Oak St Weatherford, TX.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Three townhomes, each with 2 bedrooms and 2 baths; 4,809 SF property built in 2023; 100% occupied since new; occupants have expressed a desire to continue their leases
