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421 Worth St Grapevine, TX 76051

OFF-MARKET Land Google Maps
Estimated value
No estimation on file for this property yet.
Property ID US82-0190548

Property summary

AI-generated overview

This exceptional 32-unit apartment complex, situated in the heart of historic downtown Grapevine, Texas, presents a compelling investment opportunity. Built in 1972, the property comprises eight two-bedroom and twenty-four one-bedroom units, all individually metered for electricity. Its prime location offers residents easy access to Main Street's vibrant shops, restaurants, and entertainment, as well as excellent walking, running, and biking trails. Lake Grapevine, with its boating and fishing opportunities, is a short drive away. Conveniently located near TEX Rail, Grapevine Main, Harvest Hall & Hotel Vin, and just ten minutes from DFW International Airport, this property benefits from exceptional accessibility. The property is being sold "as is," reflecting its price of $4,700,000. A projected capitalization rate exceeding 4.8% is anticipated, with potential for future rent increases. The strong demand for rental properties in downtown Grapevine ensures a competitive market with consistently high rent growth. This is a rare chance to acquire a well-positioned multifamily asset in a thriving Texas town.

Property profile

Verified
Property type Land
UPID US82-0190548

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Apartment Building

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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