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1779 Nacogdoches RdSan Antonio, TX 78209

46-unit value-add multifamily investment

Overview

Added:
Dec 11, 2024
Days on market:
116
The Quarter Apartments, a 46-unit multifamily property located at 1779 Nacogdoches Rd, San Antonio, TX 78209, presents a compelling value-add investment opportunity. Situated on a 1.312-acre lot in the affluent Alamo Heights submarket of Bexar County, this property comprises four, three-story buildings totaling 38,956 net rentable square feet. Built in 1970 and zoned MF-40, the complex offers a diverse range of unit sizes, including studios, one, two, and three-bedroom apartments, and townhome-style units ranging from 411 to 1,411 square feet. The property benefits from a significant $1.67 million investment in capital improvements, including exterior enhancements and a resident's lounge. Fifteen units have already been renovated, demonstrating the market demand and achieving rental premiums of $200 above comparable units. A new owner can capitalize on this success by completing the renovation of the remaining units. Alamo Heights boasts a median household income of $149,332 and a highly educated population (74.2% with higher education degrees), creating a strong tenant base. This prime location, coupled with the existing improvements and the potential for increased profitability, makes The Quarter Apartments an attractive investment prospect.

Highlights

  • $1.67 million in capital improvements, including exterior upgrades and a resident lounge; 15 of 46 units renovated, achieving $200 rental premiums.
  • Alamo Heights location boasts a $149,332 median household income and 74.2% higher education attainment.
  • Unit mix includes studios, one-, two-, and three-bedroom apartments, and townhome-style units ranging from 411 to 1,411 square feet.

Property Details for 1779 Nacogdoches Rd

Property type
Apartment buildings
Year Built
1970
Buildings
4
Stories
3
Lot Size (sq. ft)
57,151 SF
Units
46

Location Insight

City
San Antonio
County
Bexar
State
Texas
Latitude
29.504216513828
Longitude
-98.460007445795
1779 Nacogdoches Rd, San Antonio, Texas

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1779 Nacogdoches Rd
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