101 Macrae Ln Kirby, TX 78219-1062

Property Details for 101 Macrae Ln

Year built

1972

Lot size

1.68 lot acres

Property size

18,207 SF

Property type

Garden apartment buildings

APN

05779-000-0252

APU

57790000252

Description

Briarwood Apartments presents a compelling value-add investment opportunity in Kirby, Texas. This 31-unit apartment building, totaling 16,505 net rentable square feet, sits on a 1.68-acre lot and boasts 94% occupancy as of June 17, 2024. The property comprises eight single-story buildings constructed in 1972 and is zoned OCL. Its prime location offers easy access to major transportation arteries, including Interstate 35 and Loop 410, experiencing high daily traffic volume exceeding 90,000 vehicles. This translates to a highly desirable location for potential residents. The property benefits from recent capital improvements, including resurfaced parking lots, HVAC replacements, electrical repairs, and interior upgrades such as refreshed cabinets, new tiles and tubs, and fresh paint. However, further value-add potential exists through additional interior renovations, such as granite countertops, faux-wood flooring, modern fixtures, painted kitchen cabinets, and stainless-steel appliances, allowing for increased rental rates and attracting a higher-quality resident base. The property's proximity to downtown San Antonio (approximately 10 minutes east), Alamo Heights, and The Pearl, combined with the growing employment hub in Northeast San Antonio, makes this a strong investment prospect. This asset offers significant upside potential due to increasing rental rates in the submarket and the opportunity for further unit upgrades.

Location Insight

City

Kirby

County

Bexar

State

Texas

Longitude

-98.3924

Latitude

29.4669

CBSA code

41700

CBSA name

SAN ANTONIO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments