CIG is pleased to present Lasses Townhome Apartments, a value-add opportunity consisting of 44 units located in Highland Hills area, San Antonio, Texas, just east of I37 and 10 minutes from downtown. Right off Military Dr and within close proximity to local stores, restaurants, retailers, banks, HEB and more. Residents can go to McCreless Corner Shopping Center or Brooks Corner Shopping Center for all their shopping and dining needs.
UPGRADED PROPERTY
Lasses Townhomes is a newly upgraded apartment community that offers one bedroom, two and three bedroom townhomes floor plans. The newly renovated homes feature updated cabinets, new flooring, appliances, new paint and updated light fixtures.
Over 65% of the units have been upgraded and 76% of the HVAC units have been either upgraded or replaced.
Current owner spent over $300,000 in recent upgrades to include:
- Roof repairs
- New roof on laundry facility, new onsite office and supply building
- New paint and siding/trim/doors and doorframes replaced
- Carports repaired and painted
- Build out new office
- Completely refurbished laundry room
- Added onsite mailroom
- Added new onsite storage for supplies
- Replaced soffits and fascia boards for all buildings
- Repaired, retrofit or replaced toilets, aerators and shower heads
- Water conservation project saves over 50% in water expenses
- Added exterior LED lighting
VALUE ADDED
Opportunity for new owner to introduce RUBS as well as start charging a carport monthly fee and increasing other fees. Rents have continuously increased and with prospective residents finding the townhome style very attractive there is opportunity to push rents even further.
