427 Montrose Ave - Apartments FOR SALE


San Antonio, TX 78223- Hot Wells
$5,665,000 USD
210-330-4999
427 Montrose Ave, San Antonio, TX for Sale
$5,665,000 USD
Apartments - FOR SALE
1/37
null | 7.81% Cap Rate

427 Montrose Ave
San Antonio, TX 78223
Hot Wells


HIGHLIGHTS

  • Stabilized property with a 9-month average occupancy of 94%
  • 85% of units already upgraded
  • $750,000 in strategic upgrades

OVERVIEW

The Crossings at Montrose is a recently renovated multifamily community situated in the Hot Wells neighborhood of South San Antonio. Located just 6 miles south of downtown, this property offers convenient access to major highways, including I-37, facilitating quick commutes to the city center and surrounding areas. Elevate your investment portfolio with Crossings at Montrose, a multifamily gem located at 427 Montrose Ave. This meticulously curated property offers a seamless blend of functionality, boasting impressive operational and physical enhancements that have catapulted it to the top of the local rental market. Experience consistent high demand with an impressive 9-month average occupancy rate of 94% and a stellar 3-month average of 97.58%, showcasing exceptional property management and promising returns on investment for savvy buyers. Elevate your investment portfolio with a property where 85% of the units have already been upgraded, offering you the opportunity to put your personal touch on the remaining 15%. Unleash the income potential by reducing loss to lease and concessions, optimizing other income and capitalizing on a stabilized occupancy rate.

FOR SALE DETAILS

PRICE

$5,665,000 USD

PRICE/SF

$129 USD /SF

# OF UNITS

72

PRICE/UNIT

$78,681

CAP RATE

7.81%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Crossings at Montrose

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.93 AC

LAND SF

84,071 SF

ZONING

MF-33

APN/PARCEL ID

07578-002-0342

ASK ABOUT THIS PROPERTY

Roxana TofanClear Integrity GroupMore Info
210-330-4999

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

Roxana TofanClear Integrity GroupMore Info
210-330-4999

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