MLS# 1748466 – 2311 Pinn Rd, San Antonio, TX 78227

$2,895,000 - Br/Ba - for Sale in San Antonio
Price: $2,895,000
Status: Active
Property Type: Apartments
Year Built: 1976
Days on Website: 294

Courtesy of Copernicus Realty, Tallyn Guerra {attribution_contact}

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 4.50% 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.

Property Details and Features

  • Listing
  • Listing date: 2024-02-01 06:00:00
  • 289 days on market
  • 289 cumulative days on market
  • Location
  • County: Bexar
  • Area: 0700
  • Building
  • Apartment is 27,720 square feet
  • Built in 1976
  • Approximate age: 48
  • Building/center name: CASABLANCA APARTMENTS
  • Wood
  • Stucco
  • 2 buildings
  • Roof
  • Composition
  • Interior Features
  • Ceiling height: 8
  • Cooling
  • Window
  • Heating
  • Window Unit
  • Property
  • Zoning: R6
  • Schools
  • School district: Northside
  • Miscellaneous
  • Gross income: 505000.00
  • Net operating income: $256,665
  • Monthly lease: $42,000
  • Insurance: 24725.38
  • None
  • Actual
  • None
  • No
  • None
  • Maintenance: 62000.00
  • 30 drive-in doors
  • 60 rentals
  • 80 parking spaces
  • 60 units
  • Other expense: 44311.00
  • Other tax: 11331.74
  • Taxes
  • Total tax: $55,722
  • Annual tax: $55,722
  • City tax: $13,140
  • County tax: $6,704
  • $24,546 school tax
  • Property Tax ID: 155960530783
  • Utilities
  • Gas and electric: 42900.45
  • Waste removal: 6007.44
  • Electricity
  • Gas
  • Water
  • Telephone
  • Sewer

Property Map

$2,895,000 – 2311 Pinn Rd, San Antonio, TX 78227

Street View

Nearby Schools

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