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$339,000
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| MLS# | 765567 | | List Date | 2/26/2009 | | Type | Multifamily | | Style | 8-PLEX | | Area | FT SAM HOUSTON / MAHNCKE PARK | | Units | 8 | | Bedrooms | 2 | | Bathrooms | 1 | | Square Footage | 5920 | | Lot Size | .26 ACRE | | Age | 71 | | Parking | PAD ONLY | | | | | | |
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| DON'T MISS THIS OPPORTUNITY FOR CASH FLOW IN A GREAT LOCATION!! THERE ARE 8 UNITS, ALL UNITS ARE 2BR/1BA WITH HARDWOOD FLOORS AND RENT BETWEEN $450-$515/MO. THIS PROPERTY IS LOCATED NEAR MUSEUMS, PARKS, RESTAURANTS, SHOPPING, AND BUS LINES WITHIN A MILE OF FORT SAM HOUSTON AND THE NEW TEACHING HOSPITAL AT BAMC, WHICH IS ALREADY BEGINNING TO EXPERIENCE A HUGE INCREASE IN PERSONNEL. THERE IS SIGNIFICANT REDEVELOPMENT ACTIVITY ALREADY UNDERWAY IN THE AREA. IT IS ALSO WITHIN 3 BLOCKS OF THE NORTH EXTENSION OF THE SAN ANTONIO RIVERWALK. THERE HAVE BEEN MANY RECENT UPGRADES AND NEW APPLIANCES WITHIN THE LAST 3 YEARS. EACH APARTMENT IS ON A SEPARATE ELECTRIC METER. CURRENT GROSS RENTS ARE $3800/MO. THE OWNER'S ONGOING EXPENSES ARE PROPERTY TAXES , INSURANCE, WATER, SOME GAS METERS, TRASH, AND LAWN MAINTENANCE. 3-YR CUMULATIVE VACANCY RATE IS 16%. IN SUMMARY, ANNUALIZED GROSS RENTS ARE OVER $45K IF FULLY OCCUPIED, AND RECURRING EXPENSES APPROX $13K. QUESTIONS?? CALL NANCY FOR MORE INFORMATION 210-365-8024. |
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