100 L C Martin Dr
Devine, TX 78016
Devine Place Apartments · Multifamily Property For Sale
·
40 Units
PROPERTY FACTS
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.37 AC |
| Building Size | 41,603 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | MF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Grill
- Freezer
SITE AMENITIES
- Laundry Facilities
- Playground
- Property Manager on Site
- Basketball Court
- Grill
- Maintenance on site
ABOUT 100 L C MARTIN DR , DEVINE, TX 78016
Devine Plaza Apartments is located 35 miles south of San Antonio at the gateway to the robust $30 billion Eagle Ford Shale Oil and Gas Play. Devine Plaza boasts spacious one and two bedroom floor plans with quick access to Interstate Hwy 35 and across from Walmart Supercenter in Devine, Texas. Other nearby major employment driver is South Texas Toyota Plant with recent $391m expansion. This asset offering boasts fully stabilized in place numbers with 100% occupancy and opportunity to increase NOI near term through potential storage income, utility income, and simply winding down loss-to-lease. Very well maintained asset, and current owner has updated plank flooring, appliances and bathroom vanities in 12 units thus far for $50-$100 rent bumps. Investor can continue with these upgrades to further bolster asset appreciation through value-add investment. Devine Plaza is offered free and clear to new financing and is eligible for agency and bank debt.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $665.00 | 714 |
| 2+1 | 32 | $800.00 | 862 |
PROPERTY TAXES
| Parcel Number | 2160 | Improvements Assessment | $2,551,290 |
| Land Assessment | $84,350 | Total Assessment | $2,635,640 |
