516 Gentleman Rd
San Antonio, TX 78201
Coral Gables Apartments · Multifamily Property For Sale · 28 Units

Coral Gables – Property Overview The property offers a variety of spacious one- and two-bedroom floor plans with open living room/kitchen setups, adequate storage space, and bountiful counterspace in its kitchens. Residents at Coral Gables enjoy amenities including a sparkling pool, an internal shaded courtyard, and access to on site laundry facilities. New investors will find additional rental upside opportunity through light upgrades to unit interiors. With direct access to two of San Antonio major thoroughfares (I-10 & I-410), Coral Gables is strategically positioned within minutes of some of the largest employers, retailers and major destinations San Antonio has to offer. Residents find the community to be a convenient, quick commute to some of San Antonio’s most important employment centers including the South Texas Medical Center and Downtown San Antonio. Coral Gables is centrally positioned in Balcones Heights, which is currently benefiting from surrounding employment growth. The submarket saw rent growth of over 5% in 2018 – among the highest in San Antonio – as many multifamily owners in the immediate neighborhood are capitalizing on the opportunity to push rents through renovation and re-positioning. Current ownership conducted a study last year to convert its larger two-bedroom floor plans into two one-bedroom floor plans with estimated cost quotes between $15K and $20K per unit. This strategy would add four more units bringing total unit count to 32. Projections show that implementation of this strategy would add an additional $26,000 of annual potential rental income at current market rates. Coral Gables is being offered on an “all cash” basis allowing a new investor to take advantage of today’s low interest rates.