Stewart Landing

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Address: 2502 E Franklin Ave, Alton, TX 78573, USA
Created date: November 14, 2023
Date last updated: February 26, 2024
Stabilized asset with light value add opportunities
Opportunity to purchase below appraised value
Convenient access to South Texas College
Going in cap rate of 6% on actuals

Property Description

Stewart Landing is a 9-unit, 2018 vintage property that consists of three-bedroom units. The units contain over 1200 square feet of space including two bathrooms per unit and also a private backyard space. A new buyer has the opportunity to acquire a newly constructed asset that already has covered parking for each unit allowing new ownership to grow the NOI by implementing a charge for covered parking. Other opportunities include starting to bill back for the water/sewer/trash bill - like similar newer built properties in the area. The 3-bedroom townhome style units offer desirable features similar to what you would see in a modern-day home.

Key Property Information

Listing Status: Available
Multifamily type: Apartments
No. of Units: 9
Year Built: 2018
Building Size: 10,800 Sq ft
No. of Stories: 2
Opportunity Zone: No
Property Website Click Here
Address: 2502 E Franklin Ave, Alton, TX 78573, USA

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