67 BREES BLVD, SAN ANTONIO, TX 78209
The Ashford Tanglewood Apartments, is a two story, garden-style, apartment community located in the Alamo Heights submarket of San Antonio, Texas. The asset was built in 1972 and per owner, was renovated in 2017. Residents enjoy ample amenities which include: 2" wood blinds, kitchen pantries, upgraded ceiling fans and fixtures, laundry facilities, patios and balconies and walk-in closets. There are stainless steel appliances and/or granite counter tops in some units. Owner reports spending approximately $464,425 in CapEx.
The property is located in a Class A location. The units are 1,107 sq.ft., much larger than normal.
The property is ideal for long term hold and is a candidate for possible condo conversion. The Broker feels that additional upgrades could produce additional revenue.
Per owner, the property is half master metered and half individually metered, half boilers and half individual water heaters. It is all HVAC with no window units. There is copper wiring, confirmed per owner and all out door lights are LED. The leasing office has been completely remodeled and expanded and a new AC unit was installed. There are washer/dryer connections in 50% of the units. Offering washer/dryers in the units could generate additional revenue.
Alamo Heights is one of the best school districts in San Antonio.
Owner is currently protesting the 2019 tax assessment.
Tom Wilkinson has performed real estate marketing serves for institutional and individual investors since 1972. He has a BA in Mathematics from Rice University and an MBA in Real Estate Investments from the University of Texas. In addition to brokering real estate, Tom previously owned and operated more than 80 properties. Tom has successfully marketed properties for and to dozens of individual, business and institutional sellers and buyers, including REO properties for the RTC, FNMA and FreddieMac.