CIG is pleased to present South Park Apartments, a value-add opportunity consisting of 32 units located
in San Antonio, Texas. South Park is strategically nestled in the Southeast submarket.
The Property offers residents a convenient location, one block away from SW Military Drive and with excellent access to VIA Metropolitan Transit lines and 3 minutes away from I-35. The property is 5 minutes away from the high school and many restaurants, shopping, movie theater and employment. The property is surrounded by resident homes which gives the small community a great home feel to residents living here.
RECENT UPGRADES
EXTERIOR
Current owner spent significant focus on curb appeal and outside work to include the following upgrades:
- Siding and brick repairs
- Exterior paint
- Parking lot repairs
- Roof
- Laundry room
- Mailbox area
- Office
INTERIOR
Out of 32 units, 27 units or 85% have been upgraded with new flooring, wall repairs and new paint, bathtub resurfacing, new appliances where necessary, and other finishes like ceiling fans, new window covering, kitchen island. Significant repairs and replacement were done to individual HVAC systems as well
VALUE ADD OPPORTUNITY
Given the Property’s strategic location and true value-enhancing potential, South Park is ideally positioned to create an upside potential for a value-oriented buyer. Upgraded asset with excellent opportunity to increase income by raising fees and introducing RUBS. New owner could also add wifi for residents and charge a wifi fee.
