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$60k Price Drop! Fully Occupied 8 Unit Apartment Complex Rented 10% Below Market with Potential for Light Value-Add

2811 Observation Dr, San Antonio
ROI
17.50% IRR
Strategy
Long Term Rental
$60k price drop! Fully occupied 8 unit apartment complex rented 10% below market with potential for light value-add. 8 unit unit apartment complex built in 1975 with 2bd, 1ba units averaging $895/mo (market rents $1000/mo). On site laundry, separate electric meters, common water and gas. Well maintained older neighborhood with some gentrification occurring. Next to 410 & 90, minutes from Lackland AFB and Seaworld.

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$60k Price Drop! Fully Occupied 8 Unit Apartment Complex Rented 10% Below Market with Potential for Light Value-Add

Listed 04/18/2023

2811 Observation Dr, San Antonio

Purchase Price:$799,000

Cash Outlay:$279,680

Cashflow:$970/mo

Cap Rate:7.26%

IRR:17.50%

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