El Monty Apartments | 1623 Aquarena Springs Dr
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El Monty Apartments 1623 Aquarena Springs Dr
70 Unit Apartment Building For Sale San Marcos, TX 78666
Investment Highlights
- Attractive Loan Assumption – 3.40% Freddie Mac Loan. 30-year amortization and matures in May 2029. Approximate loan balance = $5,040,000±
- Capital Improvements – new roof, painting, parking overlay, lighting, and signage within the last 5 years.
- Area Attractions – San Marcos River is a popular destination, as is the Historic Downtown Square and the Premium / Tanger Factory Outlet Mall.
- Balanced Demographics and Unit Mix – Less than 2 miles from Texas State University (4th largest in Texas) as demand driver with less than 50% students
- Construction Style – Two-Story Garden Style Walkup built in 1983. Central Courtyard with a pool, grilling area and picnic table.
- Major Employers – The property is surrounded by abundant retail, grocery stores and industrial fulfillment centers.
Executive Summary
El Monty is a 70-unit apartment complex located in San Marcos, TX, a suburban community roughly 30 ± miles south of Austin, and 50 ± miles north of San Antonio. Ideally located, El Monty offers residents easy access to all parts of the city and is less than 2 ± miles to Texas State University and just minutes to The Square (downtown), and the San Marcos River.
The property is a good mix of one-bedroom one-bath and two-bedrooms two-baths units, with individual HVAC and water heaters in each unit. Unit interiors feature wood-look plank flooring, ceiling fans in living rooms, updated black kitchen appliances, small kitchen desk areas and outdoor closets housing the water heaters. Unit interiors also have well-designed floorplans, two-tone paint colors, vertical and mini-blinds, and laminate kitchen countertops. All second-floor units have balconies and vaulted ceilings (9-foot ceilings in all units).
The property is a good mix of one-bedroom one-bath and two-bedrooms two-baths units, with individual HVAC and water heaters in each unit. Unit interiors feature wood-look plank flooring, ceiling fans in living rooms, updated black kitchen appliances, small kitchen desk areas and outdoor closets housing the water heaters. Unit interiors also have well-designed floorplans, two-tone paint colors, vertical and mini-blinds, and laminate kitchen countertops. All second-floor units have balconies and vaulted ceilings (9-foot ceilings in all units).
Property Facts
| Sale Type | Investment | Lot Size | 2.49 AC |
| No. Units | 70 | Building Size | 45,390 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1983/2020 |
| Apartment Style | Low Rise | Parking Ratio | 2.88/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 2.49 AC |
| Building Size | 45,390 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1983/2020 |
| Parking Ratio | 2.88/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Ceiling Fans
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Pool
- Tenant Controlled HVAC
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 450 |
| 2+2 | 30 | - | 850 |
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PROPERTY TAXES
| Parcel Number | R38199 | Improvements Assessment | $5,297,554 |
| Land Assessment | $665,540 | Total Assessment | $5,963,094 |
PROPERTY TAXES
Parcel Number
R38199
Land Assessment
$665,540
Improvements Assessment
$5,297,554
Total Assessment
$5,963,094
zoning
| Zoning Code | MF-24 |
| MF-24 |
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El Monty Apartments | 1623 Aquarena Springs Dr
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