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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

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.

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Fully Occupied 8 Unit Apartment Complex Rented 10% Below Market with Potential for Light Value-Add

Listed 05/24/2023

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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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