1019 Friendship Ln | Fredericksburg, TX 78624
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1019 Friendship Ln
Fredericksburg, TX 78624
TEN19 · Multifamily Property For Sale
·
132 Units
INVESTMENT HIGHLIGHTS
- New roofs in 2019 and no deferred maintenance.
- Attractive unit mix of all two and three-bedroom floor plans and a mix of one and two-story buildings on over 14 acres
- Maintains over 90% occupancy with less than 1 percent delinquency
- Current owners spent over $1.7 mm in capex and improvements, allowing new owner to focus on unit upgrades
- Room to add additional amenities at back of property such as a soccer field, pickleball or basketball court, splash pad, expanded picnic area, etc …
- Purchase late 90s construction property in a flourishing tourist town attracting over 1.5 million visitors each year.
PROPERTY FACTS
| No. Units | 132 | Building Size | 116,672 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1998 |
| Building Class | B | Parking Ratio | 2.3/1,000 SF |
| Lot Size | 14.49 AC |
| No. Units | 132 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 14.49 AC |
| Building Size | 116,672 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1998 |
| Parking Ratio | 2.3/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Vaulted Ceiling
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Handrails
- Trash Compactor
- Vinyl Flooring
- Warming Drawer
- Wheelchair Accessible (Rooms)
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Tenant Controlled HVAC
- Grill
- Renters Insurance Program
- Bicycle Storage
- Hearing Impaired Accessible
- Maintenance on site
- Multi Use Room
- Online Services
- Vision Impaired Accessible
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 48 | - | 784 |
| 2+1.5 | 32 | - | 918 |
| 2+2 | 32 | - | 902 - 1,016 |
| 3+1 | 1 | - | 1,040 |
| 3+2 | 19 | - | 1,040 |
PROPERTY TAXES
| Parcel Number | 27329 | Improvements Assessment | $8,900,440 |
| Land Assessment | $1,773,630 | Total Assessment | $10,674,070 |
PROPERTY TAXES
Parcel Number
27329
Land Assessment
$1,773,630
Improvements Assessment
$8,900,440
Total Assessment
$10,674,070
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