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1806 Garner Field Rd
Uvalde, TX 78801
El Dorado Apts · Multifamily Property For Sale · 34 Units
Investment Highlights
- Well-located solid investment opportunity with rent guaranteed by the US Government.
- Operating north of a 7 cap with upside
- Currently at 100% occupancy
- Substantial income through HUD HAP Program (Section 8)
- Strong history of stable occupancy
- Conveniently located near Uvalde Memorial Hospital, Uvalde Airport, Southwest Texas Junior College, Walmart, HEB, etc
PROPERTY FACTS
No. Units | 34 | Building Size | 27,972 SF |
Property Type | Multifamily | Average Occupancy | 100% |
Property Subtype | Apartment | No. Stories | 1 |
Apartment Style | Garden | Year Built | 1982 |
Building Class | B | Parking Ratio | 2.15/1,000 SF |
Lot Size | 6.01 AC |
No. Units | 34 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | B |
Lot Size | 6.01 AC |
Building Size | 27,972 SF |
Average Occupancy | 100% |
No. Stories | 1 |
Year Built | 1982 |
Parking Ratio | 2.15/1,000 SF |
Unit Amenities
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Range
- Lawn
- Wheelchair Accessible (Rooms)
About 1806 Garner Field Rd , Uvalde, TX 78801
BACK ON THE MARKET DUE TO BUYERS FINANCING FALLING THROUGH. 7 Streams Commercial Group is proud to present the opportunity to acquire El Dorado, Ltd, a 34-unit affordable housing community located in Uvalde, Texas just steps away from employers, education and retail amenities. The community comprised a standalone professional leasing office, 8 four-plexes, and 1 duplex. Plenty of parking with 68 paved parking spots. Each unit is individually metered and equipped with electric HVAC and hot water systems. All AC units were replaced in the last two years and are still under warranty. There is also additional acreage for the development of additional multifamily units as the property sits on just over 4 of 6 acres. El Dorado, Ltd stands as an excellent opportunity to add to a Low Income Housing Tax Credit (LIHTC) portfolio, serving the residents of the City and County of Uvalde with safe, affordable housing options. The property is also subject to a Housing Assistance Payment (“HAP”) Contract that must be assumed by the Buyer. The current HAP contract run through 2037. There is no underlying debt to assume so the potential Buyer/Investor may place new financing on the property. Located 86 miles west of San Antonio and 70 miles east of Del Rio, Uvalde County is home to a population of around 27,000 residents. Uvalde is now a Federal Enterprise Community And Empowerment Zone, which means qualifying companies can receive up to $3,000/person in Federal Employment Tax Credits. This city is also home to an unusually well-developed airport for a small town. This airport serves as a hub for three jet renovation companies. Uvalde is also home to Southwest Texas Junior College which enrolls about 6,000 students and is steps away from the complex.
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 34 | - | - |
PROPERTY TAXES
Parcel Number | 18560 | Improvements Assessment | $882,587 |
Land Assessment | $431,964 | Total Assessment | $1,314,551 |
PROPERTY TAXES
zoning
Zoning Code | CS |
CS |
Learn More About Investing in Apartment Buildings
Listing ID: 16519841
Date on Market: 7/3/2019
Last Updated:
Address: 1806 Garner Field Rd, Uvalde, TX 78801