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403 W Hollywood Ave
San Antonio, TX 78212
Multifamily Property For Sale
·
9 Units
Investment Highlights
- Highly Desirable 78212 Location — Infill San Antonio location convenient to Monte Vista, Olmos Park, The Pearl and Downtown, combining neighborhood ch
- Boutique 9-Unit Investment — Manageable 9-unit scale with seven 1BR/1BA units and two 2BR/1BA units, providing an attractive alternative to larger, op
- Attractive Stabilized Yield — $132,000 of projected stabilized gross rental income and approximately $80,411 of pro forma NOI, representing a 6.71% pr
- Historic Infill Multifamily Asset — Originally constructed in 1926, Hollywood Heights offers distinctive architectural character in an established cen
- Compelling Lease-Up Opportunity — Acquire a 9-unit boutique multifamily property at 55.6% occupancy with four vacant units providing immediate opportu
Executive Summary
Hollywood Heights is offered for sale at $1,199,000 as a value-add multifamily lease-up opportunity. The 9-unit property is currently 55.6% occupied with five occupied units and four vacant units. Current contractual rent totals $5,250 per month ($63,000 annualized). Stabilized underwriting assumes gross scheduled rent of $11,000 per month ($132,000 annually), resulting in approximately $80,411 of pro forma NOI and a 6.71% pro forma capitalization rate at the asking price. The corresponding pro forma GRM is approximately 9.08x. Pro forma figures represent projected stabilized operations and are not current property performance. Prospective purchasers should independently verify rents, expenses, lease-up assumptions, property condition and future property tax expense.
Property Facts
| Price Per Unit | $133,222 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.71% | Lot Size | 0.21 AC |
| Sale Condition | High Vacancy Property | Building Size | 5,488 SF |
| Gross Rent Multiplier | 9.08 | Average Occupancy | 56% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1926/1986 |
| Property Subtype | Apartment | Parking Ratio | 0.73/1,000 SF |
| Zoning | MF-33 - MF-33 | ||
| Price Per Unit | $133,222 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 9.08 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 5,488 SF |
| Average Occupancy | 56% |
| No. Stories | 2 |
| Year Built/Renovated | 1926/1986 |
| Parking Ratio | 0.73/1,000 SF |
| Zoning | MF-33 - MF-33 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,200 | 600 |
| 2+1 | 2 | $1,300 | 650 |
Property Taxes
| Parcel Number | 06600-021-0210 | Improvements Assessment | $402,820 |
| Land Assessment | $262,180 | Total Assessment | $665,000 |
Property Taxes
Parcel Number
06600-021-0210
Land Assessment
$262,180
Improvements Assessment
$402,820
Total Assessment
$665,000
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