Multi-Family in Central San Antonio - 4plex, historic

[Lance Lubke]

WHOLESALE MULTI-FAMILY! Four plex, downtown in HOT Five Points area. Built in 1930, these rooms are HUGE. Two 2/1 and two 1/1 add up to 3930sf. Apartments are large with 12 ft ceilings, original mouldings, clawfoot tubs, and all the charm of an old home. Street parking on cul de sac.
Original hardwoods in great condition, need sanding/refinishing. Total cosmetic job needed. Recommend HVAC, new windows installed. Foundation leveling and exterior repair/paint needed. 3 units currently rented.
Rehab rents at 1/1 for $950 and 2/1 for $1050. ARV $480,000, rehab $145,000 (everything!), purchase $260,000. Closest comp is 502 E Laurel, MLS #1275006. 3238sf, all 1/1s renting for $1050, sold $465,000 nicely rehabbed. WONDERFUL option to build an Airbnb complex to cash flow like a king. 402 W Elmira, 78212.

Contact Anita at 210-865-8040.