The 5th Avenue Apartments is a fully occupied, six-unit multifamily property located at 1329 5th Avenue in Fort Worth’s highly desirable Fairmount Historic District, just one block from the Magnolia Avenue restaurant and retail corridor. At $1,100,000 ($183,333 per unit), the asset provides a 5.50% in-place cap rate on $60,523 of NOI, with identified upside supporting a 6.56% stabilized cap rate on $72,178 of projected NOI. The 19% projected NOI increase is driven by conservative average rents of just $1,300 per unit, which remain meaningfully below prevailing market levels. The surrounding 76104 submarket has experienced significant appreciation, with median household income doubling since 2019 and average household income within one mile approaching $115,000—indicators of continued neighborhood investment and rent-growth potential. The investment thesis is centered on substantial, yet largely untapped, value-add potential. The property has been passively owned by the same private ownership group for more than 15 years, leaving both physical and operational upside largely untouched. In-place rents average only $1.44 per square foot, compared with more than $2.00 per square foot achievable in the surrounding submarket, creating a clear mark-to-market opportunity as leases naturally renew. Importantly, the property is fully occupied, allowing a new owner to pursue rent growth without relying on a traditional lease-up strategy. The property is well maintained and benefits from individually metered electric utilities, while its mix of renovated and classic interiors provides an in-place demonstration of the rent premium achievable through targeted improvements. This creates an opportunity for future ownership to selectively renovate units and capture additional rent growth while maintaining occupancy. Finally, the property’s 1985 construction date distinguishes it from many of the district’s historic pre-war properties and may provide greater flexibility for future modifications or redevelopment, subject to applicable zoning and regulatory requirements.