A 140 unit complex strategically located in the high growth Medical Center Submarket in the City of San Antonio. Our value-add strategy is to upgrade the interiors and exterior of the property and improve the efficiencies of the operations. Oak Creek is a Class B property built in 1975. This is an exceptional opportunity to acquire 140 valueadd units strategically located in the high-growth submarket of Northwest San Antonio. Similar vintage assets in the submarket have experienced an average of 3.6 percent rent growth in the trailing nine quarters.
Previous ownership upgraded less than 20% of the units and is achieving up to $85 premiums. We have the opportunity to continue and expand the unit enhancement program on the remaining 80% of units to bring rental income up to proforma. Major exterior CapEx projects were also completed. Additionally, by hiring a professional management company, we can implement various other management strategies to maximize efficiencies and increase NOI significantly.
- 139 Unit, Class B Multifamily Asset in San Antonio, TX
- 7% Preferred Return
- Projected Multiple of 1.75-1.9x over 5 Year Hold
- $50,000 Minimum Investment
- 506(b) – Open to Accredited & Non-Accredited Investors
- Funds Due by April 1, 2021