5833 Shadydell Dr Fort Worth, TX 76135
- Residential income homes
- 39,168 SF
- 2.80 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 5833 Shadydell Dr
- Year built
- 1985
- Lot size
- 2.80 lot acres
- Property size
- 39,168 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of nine quadraplexes totaling 36 two-story townhomes in Fort Worth, Texas. Built in 1985 and significantly renovated between 2021 and 2023, this Class B multifamily property boasts 39,168 square feet on a 2.8-acre lot. The property currently enjoys a 90% occupancy rate, generating a Net Operating Income (NOI) of $367,678, representing a 6.01% cap rate. A pro-forma NOI of $428,018 projects a 6.99% cap rate, reflecting the potential for increased rental income. Each unit features two bedrooms, one and a half bathrooms, and approximately 1088 square feet of living space, including a patio and covered carport parking for two vehicles. Thirty units have been fully renovated, while six units offer an opportunity for value-add improvements to further enhance rental income. The property is situated in a high-employment area near the Fort Worth Marina and BNSF Railway, ensuring strong rental demand. The asking price is $6,120,000, or $170,000 per unit, significantly below the average townhome price in the Dallas-Fort Worth area. The current average effective rent is $1,300, while market rent averages $1,450-$1,500, presenting a clear path to increased cash flow. All current tenants are on annual leases. The property is zoned residential and offers potential for individual parcel sales to cash buyers with a 30-day closing. This is a compelling value-add investment with significant upside potential.
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
- -97.4159475
- Latitude
- 32.8217417
