5928 Fletcher Ave Fort Worth, TX 76107

Property Details for 5928 Fletcher Ave

Year built

1965

Lot size

0.57 lot acres

Property type

Commercial real estate

Description

This exceptional 26-unit apartment building, situated on a 0.57-acre lot in Fort Worth, Texas, presents a compelling investment opportunity. Built in 1965 and extensively renovated in 2018, the property boasts 15,167 square feet of net rentable space across a single, two-story building. The property is currently 100% occupied, with an occupancy date of October 17, 2024. Each of the 26 units underwent a complete renovation, featuring new plank flooring, windows, doors, walk-in closets, cabinetry, granite countertops, stainless steel appliances, glass walk-in showers, and updated fixtures and trim. Significant mechanical upgrades include a complete electrical rewire, new individual HVAC systems for all units, and a new hot water boiler. Exterior improvements encompass new fencing, irrigation, an outdoor cooking area, private patios on select units, garden areas, covered parking, and a new drainage system. The property is zoned "C" Medium Density Multifamily and benefits from its location near the intersection of Bryant Irvin Road and Camp Bowie Boulevard, within walking distance of amenities and less than half a mile from Ridglea Village Shopping Center and a grocery store. Downtown Fort Worth is a short 10-minute drive, and the Shops at Clearfork are just five minutes away. Convenient access to Loop 820 and Interstate 30 provides easy access to the entire Dallas-Fort Worth Metroplex. The property is offered free and clear. One unit is currently furnished and leased at a premium. Recent rent increases and the potential to add more furnished units offer further income growth opportunities.

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Longitude

-97.4131041

Latitude

32.724851