Rowan Multifamily Advisors in pleased to announce the exclusive listing of Rio @ 1604, in San Antonio, Texas. Rio @ 1604 is a 132-unit, 1984 construction property with an average unit size of 1,242 square feet. The property is located 30 minutes Northwest of the city center, putting it in ample location to employment hubs throughout the city.
The current owner has done major work to the property under their ownership including partial renovation of the units, additional washers and dryers, windows replaced in all units, as well as other exterior cosmetic items. The current opportunity lies in the continuation of those property upgrades such as, renovation of the remaining 50 units, the addition of washers and dryers in said units, private yards, as well as reserved parking stalls.
INVESTMENT HIGHLIGHTS
- 1,242 SF Average Unit Size
- Capital expenditures deployed by previous ownershipÂ
- Opportunity to continue renovations and add value through multiple aspects