$2,895,000
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SOLD DATE : 05/12/2025
Key Details
Property Type Commercial
Sub Type Commercial Improved Prop
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 1748466
Sold Date 05/12/25
Construction Status Wood,Stucco
Year Built 1976
Annual Tax Amount $55,722
Property Sub-Type Commercial Improved Prop
Property Description
A 60-unit apartment complex is currently available for a 1031 Exchange. This property boasts a recently installed roof, updated windows, and improved exterior elements Each apartment has been renovated to include new countertops, ceramic tiles, LED light fixtures, and private patios. Financing is facilitated through Freddie Mac, offering an assumable loan with a fixed APR of 4.50% for 10 years (with 6-7 years remaining) and decreasing prepayment penalties over time. The property maintains consistently low vacancy rates: 3.59% in 2023, 3.10% in 2022, and 2.98% in 2021. Please note that there are separate meters for the electric. Proforma- 1 beds. $775 to $795 2 beds. $895 to $945. The market rate totals come to $44,720, divided by the total square footage of 27,720. This yields a market price of $1.66 per square foot.
Location
State TX
County Bexar
Area 0700
Zoning R6
Interior
Heating Window Unit
Cooling Window
Exterior
Garage Spaces 80.0
Utilities Available Electricity, Gas, Water, Telephone, Sewer
Roof Type Composition
Building
Construction Status Wood,Stucco
Schools
School District Northside
Others
Acceptable Financing Sale Only, Cash, Conventional, Assumable/Note Rate
Listing Terms Sale Only, Cash, Conventional, Assumable/Note Rate
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