Fourplexes on Near Southside sold

Fairmount Fourplex

Fairmount Fourplexes, an 8-unit apartment property located in Fort Worth’s Near Southside, has been sold, according to Kyle Palmer, regional manager of Marcus & Millichap’s Fort Worth office. No price for the transaction was released.

John Barker, senior vice president investments and Trey McGhin, associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a locally owned limited liability company. The buyer, a private investor, purchased the property while operating in a 1031 tax deferred exchange. The entire marketing process from listing to close took 65 days. The asset sold at a record price per unit for a C-class multifamily property in the 76104 zip code.

Fairmount Fourplexes is located at 1411 6th Ave.