Multifamily

Lockwood Estates

5117 N Hampshire Blvd, Fort Worth, TX 76112

Listing Price: $2,000,000

Cap Rate
6.94%
Number of Units
32
GRM
6.54
Occupancy
90.50%
Price/Unit
$62,500
Price/Gross SF
$122.03
Gross SF
16,390

Investment Overview

Marcus & Millichap is pleased to announce the listing of Lockwood Estates, a 32 unit multifamily complex located in Fort Worth, Texas. Built in 1962, this asset consists of thirty-one one-bedroom units and one two-bedroom unit. This property offers a steady cash flow with twenty-seven units backed up by section 8 payments. Collections throughout the global pandemic have been 100% while currently being fully occupied. Owner has invested over seven hundred thousand dollars worth of improvements to the property such as new roof, remote controlled access gate, parking lot, and much more. Any potential buyer could assume the current loan with a 4.7% interest rate coming due in eight years.

Investment Highlights

  • 100% rental collections throughout the global pandemic
  • Assumable loan available for potential buyers
  • $760,000 worth of improvements to the property
  • Located in a top twenty populated city in the US

Exclusively Listed By

Listing Price: $2,000,000

Cap Rate
6.94%
Number of Units
32
GRM
6.54
Occupancy
90.50%
Price/Unit
$62,500
Price/Gross SF
$122.03
Gross SF
16,390

Investment Highlights

  • 100% rental collections throughout the global pandemic
  • Assumable loan available for potential buyers
  • $760,000 worth of improvements to the property
  • Located in a top twenty populated city in the US

Investment Overview

Marcus & Millichap is pleased to announce the listing of Lockwood Estates, a 32 unit multifamily complex located in Fort Worth, Texas. Built in 1962, this asset consists of thirty-one one-bedroom units and one two-bedroom unit. This property offers a steady cash flow with twenty-seven units backed up by section 8 payments. Collections throughout the global pandemic have been 100% while currently being fully occupied. Owner has invested over seven hundred thousand dollars worth of improvements to the property such as new roof, remote controlled access gate, parking lot, and much more. Any potential buyer could assume the current loan with a 4.7% interest rate coming due in eight years.

Exclusively Listed By

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