601 Alexander Road Developers, here is your once-in-a-lifetime chance to purchase the only major tract of land available zoned for R3 multi-family use and catty-corner to the City Park! Conveniently located just a few blocks south of the charming historic square of Stephenville and less than a mile from Tarleton State University, part of the Texas A&M University System and one of the fastest growing Universities in the State of Texas! The 5.87 - acre site contains 2 parcels with an older home being sold 'As-Is' and includes 484' of road frontage on Alexander Rd. The topography is mostly level, to gently rolling, with several mature oak trees and will be suitable for most residential development projects. The city has already approved this site for single-family homes, duplexes, townhouses, or apartment buildings, offering limitless possibilities for a housing community that features a beautiful parklike setting near the Bosque River, easy access to miles of paved walking trails within the city park and the perfect location! Tarleton University has just recently expanded campus into Fort Worth, creating rapid population growth for the college town and a major housing shortage for students, professors and general administrative staff every year looking for rental properties near main campus. About 54% of Stephenville residents are renters according to a US Census, with a high expected occupancy rate, granting Investors a rare opportunity to capitalize on an incredible location with a large variety of tenants, in a city with a high demand for housing. City Services Available.