5347 Blanco Rd
Property Description
Attractive assumable debt with a below market interest rate of 3.24% Distressed opportunity with occupancy recovery upside: currently 52.3% occupied with an average historical occupancy of 90%+ over the past five years Outstanding value-add opportunity: well-maintained asset with substantial capital spent on the exterior and curing deferred maintenance Exterior and common area upgrades include remodeled clubhouse, exterior paint, landscaping, the addition of a playscape, volleyball court and signage 76 units (58%) have received a Light Upgrade Package, typically consisting of vinyl plank flooring, painted cabinets, stainless steel appliances (9 units) and updated hardware Additional upgrade opportunities: a new owner may enhance unit interiors with higher-end finishes including quartz kitchen countertops, undermount sinks, new cabinet fronts and pulls, updated lighting and plumbing fixtures, framed bathroom mirrors, washer/dryer connections, dog yards, bark park, Nest thermostats, keyless entry, home tech package, etc.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 130 |
| Year Built: | 1970 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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