737 Mayfield Blvd San Antonio, TX 78211-3108

Mayfield Gardens, a 54-unit apartment building in San Antonio, Texas (78211), presents a compelling investment opportunity. This Class C, stabilized multifamily property boasts 100% occupancy as of September 18, 2024, generating a current NOI of $418,201 and a 7.15% cap rate. Built in 1989 and extensively renovated in 2022, the property features over $500,000 in recent upgrades, impacting 33 of the 54 units. These improvements, completed within the last 36 months, have significantly enhanced the property's value and rental income potential. The remaining 21 units offer further upside for increasing NOI and achieving the pro-forma NOI of $470,575 and an 8.04% pro-forma cap rate. The asking price is $5,850,000, translating to $108,333.33 per unit. Located at 737 W Mayfield Blvd, this property is situated in Bexar County and offers a strong foundation for immediate cash flow and future appreciation. The significant recent renovations, high occupancy rate, and strong projected returns make this a highly attractive investment prospect in the thriving San Antonio market.