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FORT WORTH-A fully leased, six-unit complex has sold for $200,000 or $40,000 less than the ask to a local investor in a face-off with three other would-be buyers.

The Mt. Vernon Apartments at 3024 Mt. Vernon St. is now in the hands of the Jeremiah Land Co., which laid cash on the line to get the deed, according to Chad Huffhines with Marcus & Millichap Real Estate Investment Brokerage Co.’s Dallas office. “It didn’t go for the highest offer,” he tells GlobeSt.com. “It went for better terms.”

Huffhines says the local seller was cashing out after two years to reinvest in another type of investment. The deal went full circle in 90 days. He and Marcus & Millichap’s Scott Lamontagne represented buyer and seller.

Built in 1950, the complex contains 500-sf efficiencies and 600-sf one-bedroom units. Rents are $500 and $600 per month.

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