Investors, don't miss out on this 2017 4-plex! This great long-term hold addition to any portfolio features 4 units, each with a 3 BR, 2.5 bath, 2 story, single car garage with a back yard. There are many designs in the Tesoro Ridge community for the 4,872 sq. ft. 4-plexes, however this property is grouped with a phase of 4-plexes that have design features that stand out from other phases. Features like a strikingly attractive elevation, long driveways, ceramic dark colored tile, granite countertops and tray ceilings. The owner recently spent $9k to change exterior underground plumbing pipes from PVC to pex, which should offer more protection against a freeze, if our Winters become more harsh than expected. With most 4-plexes in San Antonio pushing the $1M sales price, demanding pretty close to the same amount of rent and charging over $1k in HOA fees per year, this is an opportunity that you can't pass up. This the only newer 4-plex community that I am aware of that does not have an HOA in San Antonio.
All units are rented at the top tier pricing for the area and like-kind units. We are holding off on showings until the property is under contract because we have some great tenants in place and we want to respect their time. Marshall Reddick Real Estate currently manages this property and because of the success we've had managing, we are happy to continue managing, if at all possible. Why San Antonio, TX? The US Census Bureau named San Antonio, TX as the 3rd fastest growing city in the US. Why the NE side of San Antonio? Close proximity to Randolph Air Force Base, allows for great military tenant opportunities. Close proximity to the I-35 corridor. There is a lot of attention focusing on the San Antonio and Austin markets becoming one large metro area, similar to the Dallas Fort Worth Mega Metro. Anything close to the I-35 corridor that connects San Antonio and Austin is seeing an enormous amount of growth, even in this economy. With the cost of entry being so high in Austin, many people in the two markets are looking toward San Antonio and the I-35 corridor for a new place to plant some roots.
