Alpin Park Apartments

  • 15726 Chase Hill Boulevard
  • San Antonio, TX 78256

INVESTMENT HIGHLIGHTS

  • Number of Units: 124
  • Year Built: 2007
  • Occupancy: 98%
  • Avg. Market Rent Per Sq. Ft.: $0.95
  • Average Unit Sq. Ft.: 877
  • Rentable Sq. Ft.: 108,780
  • Acres: 6.19
  • Avg. Market Rent: $834

EXECUTIVE SUMMARY

DOUBLE PLAY VALUE-ADD
Alpin Park’s in-place average rents are significantly lower than the average rents of the competition. A new owner can also generate tremendous upside by renovating all 124 units, bringing them to a new value-add level.

PRIDE OF LONG-TERM OWNER
Alpin Park has been meticulously maintained and managed by the original owner/developer since 2007. The top-quality construction features 9-foot ceilings, all new 25-year roofs in 2016, poured concrete double plated second and third floors, 100% stucco exteriors, all interior and exterior lighting replaced with LED, and the entire parking lot is concrete.

LIVE – WORK - PLAY OPPORTUNITY
New ownership has the opportunity to develop out property amenities to enhance the Live – Work – Play culture popular among Millennial and Gen Z residents, which dominate the area’s demographics.

POTENTIAL PHASE II DEVELOPMENT
Property includes a half-acre site, which has been prepped with plans and utilities for an additional 72 units, creating significant upside for a new owner. This land could also be developed to further enhance amenities.

STELLAR LOCATION
Property is expertly located 1 mile north of the University of Texas San Antonio. With just under 32,000 students, UTSA is the premier university of San Antonio. The property will also draft off the nearby La Cantera Crossing shopping and retail development anchored by Alamo Draft House, set to open 150 yards from Alpin Park in late 2020.

REQUEST OFFERING MEMORANDUM