601 Alexander Road, Stephenville, TX 76401 - MLS#20784542

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Krista Mori

kristamori@ziglarrealty.com +1(817) 716-2955

$1,600,000

Est. payment - /mo

4.2 Acres Lot

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UPDATED:

12/11/2024 11:14 PM

Key Details

Property Type Vacant Land

Sub Type Unimproved Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20784542

HOA Y/N None

Year Built 1924

Lot Size 4.201 Acres

Acres 4.201

Property Description

Stephenville, known as the 'Cowboy Capital of the World', has become a very popular 'hot spot' where everyone wants to live. Investors should seize this 'once-in-a-lifetime' opportunity to purchase the only substantial parcel of land available, zoned R3 multi-family, conveniently located on the same block as the City Park and within a mile of one of Texas' fastest-growing universities, Tarleton State University—a member of the Texas A&M University System—that has recently broadened its campus in Fort Worth. This expansion has created a surge in population growth in the college town, along with a major housing shortage and surge in rental prices as new students, faculty, and staff annually seek housing. Tarleton State has recorded unprecedented enrollment growth for five consecutive years, reaching around 18,000 students in fall 2024, marking a 45% increase since 2019. A U.S. Census indicates that approximately 54% of Stephenville's population are renters, facing a high vacancy rate. For investors, this translates to potential cash flow! Also, within walking distance lies the quaint town square, that features the Courthouse built in 1892, historical buildings, diverse businesses, restaurants, cafes, boutiques, shops, museums, and historical sites. The Bosque River Trail, a trail for walking, hiking, and biking, follows the north bank of the Bosque River. Spanning approximately 1.5 miles, it links the downtown to the City Park. The property spans 4.201 acres, comprising two parcels with 484 feet of frontage on Alexander Road. Its topography is level to gently rolling, dotted with mature oak trees, making it ideal for various residential developments in a parklike environment with Bosque River views, and convenient access to the City Park and trails. Developers have a unique chance to capitalize on an incredible location with a broad tenant base, and a city experiencing a surge in housing demand, all at an exceptionally competitive price.

Location

State TX

County Erath

Community Jogging Path/Bike Path, Playground

Zoning R3, Multi-Family

Direction GPS Friendly.

Exterior

Community Features Jogging Path/Bike Path, Playground

Utilities Available All Weather Road, Asphalt, Cable Available, City Sewer, City Water, Co-op Electric, Curbs, Electricity Available, Electricity Connected, Sewer Available, Well

Street Surface Asphalt,Concrete

Lot Frontage 484.0

Garage No

Building

Lot Description Acreage, Cleared, Few Trees, Level, Many Trees, Park View, Pasture, Rolling Slope

Schools

High Schools Stephenvil

School District Stephenville Isd

Others

Restrictions Building,Easement(s)

Ownership Of Record

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Special Listing Condition Flowage Easement, Verify Rollback Tax, Verify Tax Exemptions

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Darlene Crumley • Keller Williams Heritage West

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Krista Mori

+1(817) 716-2955

Realtor, GRI | License ID: 0704624

Realtor, GRI License ID: 0704624