421 Worth St Grapevine, TX 76051
- Small apartment buildings
Current Use by Public Records
- Texas Apartments Inc. / Apartment Building
Property Details for 421 Worth St
- Property type
- Small apartment buildings
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grapevine
- County
- Texas
- State
- Texas
- Longitude
- -97.0737175
- Latitude
- 32.9379626
