1631 Interstate 35 San Antonio, TX 78208

Property Details for 1631 Interstate 35

Year built

1935

Property size

13,691 SF

Property type

Residential income homes

Property subtype

Retail space

Description

This exceptional mixed-use investment portfolio comprises eight buildings totaling 13,691 square feet in San Antonio's thriving urban core. The portfolio includes 16 rental units across various property types: apartment buildings, single-family rentals, and storefronts, catering to a diverse tenant base of 15. Built between 1935 and 1965, and renovated in 2022, these properties offer a blend of historical charm and modern updates. Located in Bexar County, with addresses spanning 1631 N Interstate 35, 1623 N Interstate 35, 1615 North Interstate 35, 1607 N Pine St, 1529 E Crockett St, 611 Potomac St, and 110 Dumoulin Ave, all within zip codes 78202, 78208, and 78210, the portfolio benefits from its proximity to major attractions like the Riverwalk, Pearl Brewery, and the Grayson entertainment district. The portfolio boasts a gross lease structure, with a current pro-forma NOI of $202,000 and a pro-forma cap rate of 5.06%. The asking price is $3,995,000, translating to $291.80 per square foot and $249,687.50 per unit. Each unit includes two parking spaces. This value-add opportunity presents significant potential for appreciation, given the area's rapid growth and substantial investment in nearby mixed-use developments. The portfolio's strategic location and diverse income streams make it an attractive investment for those seeking both cash flow and long-term capital appreciation in a dynamic market. The properties are all within a 1.5-mile radius of each other, offering operational efficiencies. This is a rare opportunity to acquire a well-positioned portfolio in a rapidly appreciating area.