Casablanca Apartments | 2311 Pinn Rd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Casablanca Apartments 2311 Pinn Rd
60 Unit Apartment Building $2,895,000 ($48,250/Unit) 7.83% Cap Rate San Antonio, TX 78227
Investment Highlights
- A 60-unit apartment complex is currently available for a 1031 Exchange.
- This property boasts a recently installed roof and updated windows, among other improvements!
- Individual electric meters for all buildings
- Proforma 1 beds. $775 to $795 2 beds. $895 to 945
- Financing is facilitated through Freddie Mac, offering an assumable loan with a fixed APR of 4.52 % for 10 years (with 6-7 years remaining) and decrea
- The market rate totals come to $44,720, divided by the total square footage of 27,720. This yields a market price of $1.66 per square foot.
Executive Summary
A 60-unit apartment complex is currently available for a 1031 Exchange. This property boasts a recently installed roof, updated windows, and improved exterior elements. Each apartment has been renovated to include new countertops, ceramic tiles, LED light fixtures, and private patios. Financing is available through Freddie Mac, offering an assumable loan with a fixed APR of 4.52% that ends in 2028. The property maintains consistently low vacancy rates: 3.59% in 2023, 3.10% in 2022, and 2.98% in 2021.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,895,000 | Building Class | C |
| Price Per Unit | $48,250 | Lot Size | 1.01 AC |
| Sale Type | Investment | Building Size | 27,720 SF |
| Cap Rate | 7.83% | Average Occupancy | 97% |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| No. Units | 60 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 2.16/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,895,000 |
| Price Per Unit | $48,250 |
| Sale Type | Investment |
| Cap Rate | 7.83% |
| Sale Conditions | 1031 Exchange |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 27,720 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 2.16/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 56 | $700.00 | 420 |
| 2+1 | 4 | $855.00 | 720 |
1 of 1
PROPERTY TAXES
| Parcel Number | 15596-053-0783 | Total Assessment | $2,426,221 |
| Land Assessment | $127,770 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,298,451 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
15596-053-0783
Land Assessment
$127,770
Improvements Assessment
$2,298,451
Total Assessment
$2,426,221
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R6 |
| R6 |
-
Trish Guerra -
Tallyn Guerra -
Gregory Watroba
-
Copernicus Realty
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Casablanca Apartments | 2311 Pinn Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.