Hemphill Heights TriPlex!

2820 May St, Fort Worth, TX 76110

$310,000 After Repair Value -
$165,000 Asking Price -
$75,000 Cost of Repairs =
$70,000 Potential Profit

Property Details

Asking Price $165,000

After Repair Value $310,000

Costs of Repairs $75,000

Potential Profit $70,000

Living Area 2440 ft2

Property Type TriPlex

Bedrooms 5

Bathrooms 3

Half Bathrooms 0

Parking 0

Listed with Agent No

Property Description

Really cool TriPlex in Hemphill Heights. There is a single 3/1 unit, and two separate 1/1 units. The 1/1 units are NOT efficiencies or studios, but are actual 1/1 apartments. Total rent after updates is around $2,800/month. Flipping it would require some considerable rearranging of the layout, but flipped comps around this square footage are strong at $310k+.

Repairs Needed

Depends on investment strategy. Needs a new roof, some foundation leveling (pier and beam), and new hvac systems for each unit. May be able to get away with a couple window units for each of the 1/1 units. Flip comps are strong but that would require a significant reworking of layout. It is pier and beam so the investor with the right crew shouldn\'t have too much difficulty with it.

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