Alvord, TX Triplex
Bldg SqFt: 3,395/Public Records
Total Beds: 9
Baths: 6
Yr Built: 2019/Preowned Pool: No
Complex: NA Gar Size:
# Units: 3 # Buildings: 1 Hdcp Am: No
# Park Sp: 8 Occupancy: Subdivide: No
Lot Dim: Acres: 0.223 Smart Hm App: No
HOA: None HOA Co: HOA Website:
Gross Income: $45,600 Insurance Exp: $4,000 Gross Inc Multiplier: 12.06
Gross Expense: $13,950 Net Income: $31,650 Capitalization Rate: 5.75%
Property Description
Here is an investment opportunity in the city of Alvord, Texas. Built in 2019, this triplex offers modern construction, durable exterior features, and strong long-term rental appeal for investors seeking to expand or stabilize their portfolio. Each unit features approximately 1,224 square feet of living space with three bedrooms and two full bathrooms, creating an attractive option for families, workforce housing, or long-term tenants seeking comfort and convenience. The thoughtfully designed floor plans include spacious living areas, separate kitchen nooks for dining, and electric range appliances in each unit. Electric washer and dryer connections provide added convenience for tenants while reducing maintenance concerns often associated with shared laundry facilities. Each residence is also equipped with individual HVAC systems, allowing tenants to control their own comfort while helping owners manage utility efficiency more effectively. A durable metal roof enhances the property’s exterior appeal while potentially contributing to lower long-term maintenance costs and extended roof life compared to many traditional roofing materials. Additional storage space adds practical value for residents and increases the property’s marketability in a competitive rental environment. The property’s newer construction age may provide advantages related to reduced deferred maintenance compared to older multifamily assets, making this an appealing option for both seasoned and first-time investors. Located in Alvord, this property benefits from the appeal of small-town Texas living while maintaining access to larger North Texas employment and growth corridors. The combination of modern construction, desirable unit sizes, and functional amenities positions this property as a strong income-producing asset with long-term upside potential. Multifamily opportunities with this combination of age, layout, and functionality remain increasingly difficult to find in today’s market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | 2-4 Units |
| Price: | $550,000 |
| No. of Units: | 3 |
| Cap Rate: | 5.94% |
| GRM /GIM: | 11.75 |
| Average Occupancy: | 100 |
| Year Built: | 2019 |
| Year Renovated: | 2019 |
| Building Size: | 3,395 Sq ft |
| Lot Size: | 0.22 Acres |
| No. of Stories: | 1 |
| APN: | 768308 |
| Zoning Code: | Multi-Family Residential |
| Opportunity Zone: | No |
| Price per unit: | $183,333 |
| Parking Spaces: | 6 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 3 bdr | 3 | 3672 | 1400 |
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