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20-Unit Apartment Building Next to Medical Centers and TCU

2701 Hemphill St, Fort Worth
ROI
23.00% IRR
Strategy
Mid Term Rental
20-unit apartment building next to medical centers and TCU. Great furnished mid-term opportunity with all 1 bed units and major renovations recently completed. OM available upon request. : 20 unit property built in 1961 with 1 bed 1 bath units at 700sq ft each. 16 units completely updated, 4 with partial updates. Major capex completed including exterior, electric, HVACs, plumbing, parking lot, and cosmetics. 95% occupied with long term tenants, most leases 15-20% below market and ending within 3 months.

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20-Unit Apartment Building Next to Medical Centers and TCU

Listed 04/10/2023

2701 Hemphill St, Fort Worth

Purchase Price:$1,900,000

Cash Outlay:$643,000

Cashflow:$4,917/mo

Cap Rate:8.92%

IRR:23.00%

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