Property Type One Story
Status New
Price Type
Distressed
Year Built 1942
Neighborhood Hotwells
Days on Website 8

Property Map

$290,000 – 341 Avondale Ave, San Antonio, TX 78223

Street View

Courtesy of K&E Realty, Rayenari Suarez {attribution_contact}

Description

Uncover an exceptional investment opportunity in this unique multi-unit property, perfect for maximizing rental income. Featuring an existing tenant-occupied ADU, this property delivers immediate cash flow with enormous future potential. Properties like this rarely come to market, especially one designed to offer four separate rental incomes. The main house is ready to be renovated into three individual units, each with immense earning potential. Imagine transforming Units 1 and 2 into one-bedroom, one-bathroom apartments, while the back unit becomes a spacious two-bedroom, one-bathroom rental. With the ADU already a fully functional two-bedroom, one-bathroom unit housing a long-term tenant, you’ll start generating revenue from day one. Each unit is equipped with a separate city electricity meter, making management simple and efficient. This property is sold as-is, giving you the freedom to shape each unit to suit your investment strategy. With renovations already started, you’re set to take over and quickly finish the renovations to turn this property into a lucrative, high-yield investment. The seller also offers owner financing with an attractive interest rate, a five-year balloon, and no prepayment penalty-making it easier to capitalize on this rare find. Don’t miss out on this fantastic investment in a property with boundless income potential.

Property Details and Features

Listing

  • 7 cumulative days on market
  • 7 days on market
  • Listing date: 2024-11-14 06:00:00
  • Price per square foot: $115

Location

  • County: Bexar
  • Subdivision: Hotwells

Bedrooms

  • 1 bedroom in unit 1
  • 1 bedroom in unit 2
  • 2 bedrooms in unit 3
  • 2 bedrooms in unit 4

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

Accessibility Features

  • Unit 1 disability access: No
  • Unit 2 disability access: No
  • Unit 3 disability access: No
  • Unit 4 disability access: Yes
  • Near Bus Line
  • Level Lot
  • Level Drive
  • Wheelchair Adaptable

Building

  • 2,516 square feet
  • 4 total units
  • Approximate age: 82 years
  • Built in 1942
  • Builder: Unknown
  • Not Applicable
  • Not Applicable
  • Not Applicable
  • Oven/Stove
  • Washer Connection
  • Dryer Connection

Exterior Features

  • Mature Trees
  • Mature Trees (ext feat)
  • Level
  • Siding

Floors

  • Wood

Foundation

  • Slab

Roof

  • Composition

Miscellaneous

  • Net operating income: $40,400
  • Unit 1 rent: $950
  • Unit 2 rent: $950
  • Unit 3 rent: $1,050
  • Unit 4 rent: $1,000
  • 85% vacancy rate
  • Annual operating expense: $7,000
  • Gross annual income: $47,400
  • City Bus
  • Taxes
  • Insurance

Parking

  • 2 parking spaces for unit 1
  • Unit 1 parking type: Pad
  • 2 parking spaces for unit 2
  • Unit 2 parking type: Pad
  • 2 parking spaces for unit 3
  • Unit 3 parking type: Pad
  • 2 parking spaces for unit 4
  • Unit 4 parking type: Pad

Lot

  • Lot size: 0.225

Property

  • Zoning: MF33

Schools

  • School district: San Antonio I.s.d.
  • Elementary school: Ball
  • Middle school: Hot Wells
  • High school: Highlands

Cooling

  • Window/Wall

Heating

  • Other
  • None

Energy Saving

  • Drought Tolerant Plants

Utilities

  • Separate Electric
  • Common Water
  • Electric utility supplier: CPS
  • Garbage utility supplier: CITY
  • Water utility supplier: SAWS
  • Sewer utility supplier: SAWS

Taxes

  • Total tax amount: $3,792

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