403 W Hollywood Ave - Apartments FOR SALE


San Antonio, TX 78212- Alta Vista
$1,199,000 USD
210-451-0143
403 W Hollywood Ave, San Antonio, TX for Sale
$1,199,000 USD
Apartments - FOR SALE
1/42
null | 6.71% Cap Rate

403 W Hollywood Ave
San Antonio, TX 78212
Alta Vista


HIGHLIGHTS

  • Highly Desirable 78212 Location — Infill San Antonio location convenient to Monte Vista, Olmos Park, The Pearl and Downtown, combining neighborhood ch
  • Historic Infill Multifamily Asset — Originally constructed in 1926, Hollywood Heights offers distinctive architectural character in an established cen
  • Boutique 9-Unit Investment — Manageable 9-unit scale with seven 1BR/1BA units and two 2BR/1BA units, providing an attractive alternative to larger, op
  • Compelling Lease-Up Opportunity — Acquire a 9-unit boutique multifamily property at 55.6% occupancy with four vacant units providing immediate opportu
  • Attractive Stabilized Yield — $132,000 of projected stabilized gross rental income and approximately $80,411 of pro forma NOI, representing a 6.71% pr

OVERVIEW

Hollywood Heights is offered at $1,199,000, presenting a strategic multifamily asset currently in the latter stages of an active absorption cycle. The 9-unit property is demonstrating strong tenant demand, with operational momentum positioned to drive the asset to near-complete stabilization prior to disposition. Stabilized underwriting anticipates gross scheduled rent of $11,000 monthly ($132,000 annually), effectively translating to a projected pro forma NOI of $80,411 and a 6.71% capitalization rate at the asking price, alongside a 9.08x pro forma GRM.

FOR SALE DETAILS

PRICE

$1,199,000 USD

PRICE/SF

$218 USD /SF

# OF UNITS

9

PRICE/UNIT

$133,222

CAP RATE

6.71%

% LEASED

56%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

MF-33

APN/PARCEL ID

06600-021-0210

ASK ABOUT THIS PROPERTY

Luke Owens-BraggLockwood Realty GroupMore Info
210-451-0143

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Luke Owens-BraggLockwood Realty GroupMore Info
210-451-0143

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.