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Courtesy of Yndo Commercial Real Estate Co, Stephen Yndo {attribution_contact}
Description
A rare multifamily opportunity in the Lavaca Historic District and Southtown corridor, the Florida Street Apartments are one of the few MF properties retaining the in-demand historic architectural detailing of the Lavaca and King William neighborhoods. All 7 units vacated and refreshed. Ready for re-tenanting, additional value-add improvements or full or partial conversion to owner occupancy. 5 Units in the main bldg (1929) and 2 units in up/down duplex (1969). 6,159 SF total on .34 acres of land. $70,100 Annual Pro-Forma NOI. Asking $1,095,000. LOCATION: 204 Florida St and 910 Labor St, just west of the Florida/Carolina diamond interchange at I-37, and just off S. Presa in the Lavaca Historic District. Surrounded by iconic historic single family homes and top-of-the-market new construction townhomes, the Florida Street Apartments are walkable to all the famous restaurants of Southtown and downtown, and to the Mission Reach of the San Antonio River Hike & Bike Trail. This is a rapidly appreciating location with over 12,000 employees within a 1 mile radius.
Property Details and Features
Listing
- 377 cumulative days on market
- 377 days on market
- Listing date: 2023-10-27 05:00:00
- Price per square foot: $174
Location
- County: Bexar
- Subdivision: Lavaca
Bedrooms
- 3 bedrooms in unit 1
- 1 bedroom in unit 2
- 2 bedrooms in unit 3
- 1 bedroom in unit 4
- 2 bedrooms in unit 5
- 1 bedroom in unit 6
- 1 bedroom in unit 7
Bathrooms
- 1 full bathroom in unit 1
- 1 full bathroom in unit 2
- 1 full bathroom in unit 3
- 1 full bathroom in unit 4
- 1 full bathroom in unit 5
- 1 full bathroom in unit 6
- 1 full bathroom in unit 7
Accessibility Features
- Unit 1 disability access: No
- Unit 2 disability access: No
- Unit 3 disability access: No
- Unit 4 disability access: No
- Unit 5 disability access: No
- Unit 6 disability access: No
- Unit 7 disability access: No
Building
- 6,149 square feet
- 7 total units
- Approximate age: 94 years
- Built in 1929
- Builder: Unknown
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
- Oven/Stove
- Refrigerator
Exterior Features
- Has Gutters
- Mature Trees
- Neighborhood Pool
- Cable TV Available
- Park/Playground
- Wood
Floors
- Wood
Roof
- Metal
Miscellaneous
- Net operating income: $70,106
- Unit 1 rent: $1,975
- Unit 2 rent: $1,400
- Unit 3 rent: $1,465
- Unit 4 rent: $1,065
- Unit 5 rent: $1,465
- Unit 6 rent: $1,595
- Unit 7 rent: $1,595
- 6% vacancy rate
- Annual operating expense: $46,611
- Gross annual income: $126,720
- City Bus
- Historic District
- Taxes
- Insurance
- Maintenance
- Management
- Services
- Reserves
Parking
- 2 parking spaces for unit 1
- Unit 1 parking type: Pad
- 1 parking space for unit 2
- Unit 2 parking type: Pad
- 1 parking space for unit 3
- Unit 3 parking type: Pad
- 1 parking space for unit 4
- Unit 4 parking type: Pad
- 2 parking spaces for unit 5
- Unit 5 parking type: Pad
- 1 parking space for unit 6
- Unit 6 parking type: Pad
- 1 parking space for unit 7
- Unit 7 parking type: Pad
Lot
- Lot size: 0.34
Property
- Zoning: RM-4 CD H
Schools
- School district: San Antonio I.s.d.
- Elementary school: Bonham
- Middle school: Burnet
- High school: Brackenridge
Cooling
- Window/Wall
Heating
- Electric
- Natural Gas
- Window Unit
- Other
Utilities
- Separate Electric
- Common Water
- Common Gas
- Gas utility supplier: CPS
- Electric utility supplier: CPS
- Garbage utility supplier: COSA
- Water utility supplier: SAWS
- Sewer utility supplier: SAWS
Taxes
- Total tax amount: $927,700