1421-1423 Grand Ave Fort Worth, TX 76164
- Apartment buildings
- 7,300 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1421-1423 Grand Ave
- Property size
- 7,300 SF
- Property type
- Apartment buildings
Description
This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving Fort Worth, Texas market. Located at 1421-1423 Grand Ave, 76164, in Tarrant County, this property boasts 7,300 square feet and is priced at $1,075,000, offering a strong 6.92% cap rate. Situated within the Dallas-Fort Worth metroplex, the property benefits from proximity to numerous attractions including the Historic Stockyards, Trinity Trails, Fort Worth Museum of Science & History, and Fort Worth Botanic Garden. Recent area developments, such as the new Hotel Drover, further enhance its investment potential. The building features upgraded electrical boxes and meters, and all units include tile or laminate flooring. One unit already has washer/dryer connections, with additional space in one and two-bedroom units to add these amenities. The roof was replaced in 2022, and a vacant garage offers additional possibilities. Significant value-add potential exists through the addition of mini-splits to increase rental income. Utilities are efficiently managed with water, sewage, and gas master-metered, while electricity is individually metered. Apartment amenities include high-speed internet access, air conditioning and heating, ceiling fans, cable readiness, and kitchen appliances (microwave, refrigerator, and freezer). Walk-in closets are also featured. This property represents a strong value-add opportunity in a prime location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Worth
- County
- Tarrant
- State
- Texas
- Longitude
- -97.3594
- Latitude
- 32.7714
