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Costa Azul Apartments 7302 Mary Abbott St 20 Unit Apartment Building $2,800,000 ($140,000/Unit) 6.52% Cap Rate San Antonio, TX 78221
INVESTMENT HIGHLIGHTS
- Convenient access to retail, dining, and cultural landmarks adds further appeal
EXECUTIVE SUMMARY
Costa Azul Apartments is a modern 20-unit multifamily community positioned just south of downtown San Antonio inside Loop 410. This turnkey asset combines contemporary construction, a balanced unit mix, and proximity to major employment hubs, offering investors stable cash flow with long-term growth potential. The property consists of 12 two-bedroom townhome-style residences and 8 three-bedroom residences, each designed with renter appeal in mind. Homes feature stainless steel appliances including refrigerator, microwave, oven, and stovetop, along with walk-in closets and washer and dryer connections. Townhome layouts enhance privacy and livability, encouraging long-term tenancy. Located near Brooks City Base, Kelly Air Force Base, Texas A&M University San Antonio, Palo Alto College, and the Toyota Manufacturing Plant, Costa Azul is strategically positioned to capture consistent rental demand. Tenants also benefit from quick access to shopping, dining, and cultural destinations such as Mission San Jose and the Mission Concepcion Sports Complex. The two-bedroom residences are 772 square feet with open layouts, stainless steel appliances, walk-in closets, and washer and dryer connections. The three-bedroom residences are 820 square feet, offering spacious interiors with contemporary kitchens, premium appliances, ample storage, and washer and dryer connections. Built in 2022 to current standards, the community minimizes near-term maintenance and capital needs while providing a balanced mix of units, privacy-focused townhome designs, and a strategic location near major employers and universities. Convenient access to retail, dining, and cultural landmarks adds further appeal, making Costa Azul a turnkey property offering immediate income and long-term appreciation potential.
Gross income: $294,000
Annual tax: $54,660.41
Insurance: $14,115
Gas & electric: $1,800
Waste removal: $3,754.20
Maintenance: $6,000
Other expense: $34,841.52
Net operating income: $182,428.88
Gross income: $294,000
Annual tax: $54,660.41
Insurance: $14,115
Gas & electric: $1,800
Waste removal: $3,754.20
Maintenance: $6,000
Other expense: $34,841.52
Net operating income: $182,428.88
PROPERTY FACTS
| Price | $2,800,000 | Building Class | B |
| Price Per Unit | $140,000 | Lot Size | 0.62 AC |
| Sale Type | Investment | Building Size | 20,563 SF |
| Cap Rate | 6.52% | Average Occupancy | 40% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 1.72/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF-33 | ||
| Price | $2,800,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.62 AC |
| Building Size | 20,563 SF |
| Average Occupancy | 40% |
| No. Stories | 2 |
| Year Built | 2022 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | MF-33 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 12 | - | 772 |
| 3+2 | 8 | - | 820 |
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PROPERTY TAXES
| Parcel Number | 09338-072-0341 | Improvements Assessment | $2,036,200 |
| Land Assessment | $113,800 | Total Assessment | $2,150,000 |
PROPERTY TAXES
Parcel Number
09338-072-0341
Land Assessment
$113,800
Improvements Assessment
$2,036,200
Total Assessment
$2,150,000
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Costa Azul Apartments | 7302 Mary Abbott St
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