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Value-Add 10-Unit Complex Next to Downtown with 6 Units Updated

222 Merida St, San Antonio

ROI

18.34% IRR

Strategy

Long Term Rental

Value-add 10-unit complex next to downtown with 6 units updated. New HVAC and roofs. Solid location close to St Mary's, Lackland AFB, downtown. 10-unit built in 1987 with 2 bed, 1 bath units. 6 units have been fully updated with floors, fixtures, kitchen/bathroom remodels, etc. New HVAC and roofs. 4 units still need updating for value-add opportunity.

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Value-Add 10-Unit Complex Next to Downtown with 6 Units Updated

Listed 11/10/2023

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222 Merida St, San Antonio

Purchase Price:$1,100,000

Cash Outlay:$412,000

Cashflow:$1,125/mo

Cap Rate:7.15%

IRR:18.34%

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