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Fully Occupied 8 Unit Apartment Complex with Value-Add Opportunity

2811 Observation Dr, San Antonio
ROI
18.67% IRR
Strategy
Long Term Rental
Fully occupied 8 unit apartment complex with value-add opportunity. Currently leased 10-12% below market rent. Close to Lackland AFB and Seaworld. 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 with Value-Add Opportunity

Listed 03/17/2023

2811 Observation Dr, San Antonio

Purchase Price:$860,000

Cash Outlay:$256,200

Cashflow:$783/mo

Cap Rate:6.76%

IRR:18.67%

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