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2311 Pinn Rd

San Antonio, TX 78227
  • $3,550,000
  • STATUS: Active
  • ON SITE: 109 Days
  • MLS #: 1748466
UPDATED: 89 min ago
$3,550,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1976
County:
Area:

School Ratings & Info

School District:

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 5.40% 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.

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© 2024 San Antonio Board of REALTORS® All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Dylan Forde Real Estate Group | Real Brokerage LLC. Last updated 2024-05-20T22:33:03.893.
www.dylanforderealestate.com/homes/147167740
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2311 Pinn Rd San Antonio, TX 78227

  • Price: $3,550,000
  • Status: Active
  • On Site: 109 Days
  • Updated: 89 min ago
  • MLS #: 1748466
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1976
Built
Neighborhood:
San Antonio
County:
Bexar
Area:
San Antonio
School District:
Northside
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 5.40% 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.
Exterior Features

Construction WoodStucco Drive In Doors 30 Loading Facilities None Rail Service No Roof Composition Total Parking 80

Interior Features

Air Conditioning Window Apartment Sq Ft 27720 Ceiling Height 8 Heating Window Unit

Property Features

Annual Tax 55722.39 Approx Age 48 Available With Lease No Building Center Name CASABLANCA APARTMENTS City Tax 13140.17 Commercial Type Apartments County Tax 6704.4 Flood Plain None Gas And Electric 42900.45 Gross Income 505000 Income Expenses Actual Insurance 24725.38 Lease Only No Maintenance 62000 Monthly Lease 42000 Net Operating Income 256664.56 Other Expense 44311 Other Tax 11331.74 Potential Short Sale No Proposed Terms Sale OnlyCashConventionalAssumable/Note Rate Rentals 60 Restrictions None Sale Includes BuildingsLandOther School Tax 24546.08 Total Tax 55722.39 Utilities ElectricityGasWaterTelephoneSewer Waste Removal 6007.44 Zoning R6

Listing information © 2024 San Antonio Board of REALTORS®.
Listing provided courtesy of Tallyn Guerra of Copernicus Realty: tallynguerra@cr-tx.com, (210) 521-7900.


© 2024 San Antonio Board of REALTORS® All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Dylan Forde Real Estate Group | Real Brokerage LLC. Last updated 2024-05-20T22:33:03.893.
 
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San Antonio TX, 78231