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349 Briarbend
New Braunfels, TX 78130
Briarbend Apartments · Multifamily Property For Sale
·
48 Units
PROPERTY FACTS
| No. Units | 48 | Building Size | 42,376 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1986 |
| Building Class | B | Parking Ratio | 2.03/1,000 SF |
| Lot Size | 2.55 AC |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.55 AC |
| Building Size | 42,376 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 2.03/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Ceiling Fans
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Walk-In Closets
- Carpet
- Grill
- Pantry
SITE AMENITIES
- Picnic Area
- Storage Space
ABOUT 349 BRIARBEND , NEW BRAUNFELS, TX 78130
Briarbend Apartments is a 48-unit apartment community located in New Braunfels, Texas, a rapidly-growing submarket of the San Antonio MSA. Built in 1986, the asset features brick and wood-siding exteriors, concrete slab foundations, and the pitched composition shingle. Roofs were all replaced in 2003. Briarbend Apartments rents are currently below-market and there is a tremendous opportunity in stabilizing. With only cosmetic upgrades, and based on a three-year hold, a new owner has the potential to achieve returns of 12 percent cash-on-cash and an IRR of 31 percent. Exterior amenities include a swimming pool with adjacent covered picnic area, barbecue grills, and 80 parking spaces. Interior amenities include patio/balcony, full washer/dryer connections, ceiling fans, nine-foot and/or vaulted ceilings (loft units only), large kitchen pantries, linen closets, fireplaces with tiled hearths, ceramic tile entries, spacious walk-in closets, and full-appliance packages including dishwashers. Flooring is a mix of carpet, vinyl-plank, ceramic and vinyl tile, and marble tile in select units. The asset has been self-managed and well-maintained by the current owner since 2009. Approximately one-half of the units feature high-end designer light fixtures and recently-upgraded appliances. Additional upside exists in raising rents to market, billing back common utilities and trash to tenants, and providing washers and dryers in the units.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | $831.00 | 704 |
| 2+1 | 16 | $905.00 | 816 |
| 2+2 | 23 | $990.00 | 964 |
PROPERTY TAXES
| Parcel Number | 56-0185-0123-01 | Improvements Assessment | $2,737,790 |
| Land Assessment | $674,560 | Total Assessment | $3,412,350 |
PROPERTY TAXES
