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318 Verne St., San Antonio, TX 78221

Property Status: Available (Wholesale) | For Sale: $295,000.00




11 unit multi-family property - Explosive Upside Potential at Harlandale


7.69 % Cap Rate Approx up to 15% CAP RATE Potential once fully occupied YTD Expenses ; $9690 YTD Income : $32400 NIO: $22710 7 Units Rented 2 Units available 2 units to be refurb DESCRIPTION: Perfect Buy and Hold property in excellent condition .This is a very unique cash flow building in the heart of the Southside with 11 unit multi-family property which rents for $350-$450 per unit. Located in the heart of the Southside of Military and Pleasanton Road with convenience to HEB , Church, Employers and Shopping . Current combined gross rents $2700 month with 7 units. Great investment opportunity. FEATURES: 1) Stays rented. In a hot area in terms of renters who need this type of place. A lot of people in South side don't have resources to rent a house or apartment but can afford $350-$450 per month and don't mind sharing bathroom. 2) 11 units with a common bathroom and kitchen area. 3) Currently, I refurbish the building , new wall AC units and metal roof. 4) Easy property to manage. Maintenance is pretty low along with make readies are easy. 5) It is important to note that there is room to increase rent. If you bump rent to $450 for all 11 rooms your Gross rent jumps up to $4950 per month from the current $2700. 6) If new owner adds coin operated washer and dryer they can add ~$200-$300 per month additional income. Tenants have expressed strong interest in coin operated machines to do laundry. 1) Property tax has been kept very low for last few years. I fought to keep the property taxes low. 2) I am asking for $295,000. 3) The property is a very cash flow rich. It always stays rented. 4) You will not find a property of this type in San Antonio. I do have current rent rolls. I can get them if some is really interested and after they have seen the property. Please do not disturb tenants or walk into premise. Assignment .Serious Inquires only . Drive by for now. If interested please call to set a showing .

Alamo Real Estate Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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Alamo Real Estate Investors Association

PO Box 15872
San Antonio, TX 78212
(210) 732-7500

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