Want a Tower Penthouse at Bargain Price? Get Cracking on This Shell

To what lengths are you willing to go to own a piece of the sky?

One of the most unique Fort Worth properties on the market now is a top-story penthouse at 500 Throckmorton, AKA The Tower. It’s Unit No. 3506, and it’s priced well under $1 million. What’s the catch? To say that it needs some work is an understatement. It needs everything. Like a kitchen, for starters.

Just in case you’re contemplating a DIY, you’re going to need to pull a few permits.

Granted, The Tower has taken its knocks, and for five years it was what I once deemed “a storm-orphaned edifice.” However, what you are seeing is not the result of the 2000 tornado. Actually, the unit offers a great opportunity for a buyer looking for a blank canvas.

The glass-half-full take? For sale: penthouse apartment with tear-out completed. Glass-full-to-overflowing take? Huge investment potential. A well-managed finish out could easily triple the value of this apartment.

The Tower penthouse has an impressive 3,400 square feet and is described as a three-bedroom, three-bathroom apartment. Presumably, the bathrooms have been roughed in. Digital renderings below give an idea of the property’s potential.

What needs no reworking are the breathtaking vistas, which can be enjoyed from walls of floor-to-ceiling windows or a private balcony. The unit also comes with four assigned parking spaces.

The HOA dues give full access to the many amenities located on the fifth floor. The gym has been completely renovated and a putting green and dog run has been added. Have out-of-town guests? There are two apartments available to Tower residents for a negligible fee of $75 per night. And there are all of the conveniences of a lock-and-leave building in the vibrant downtown Fort Worth city center with a walkability score of 92.

Barbara Pantuso of Pantuso Properties within Keller Williams is offering The Tower Penthouse at 500 Throckmorton Street, No. 3506 for $695,000.