CALL FOR OFFERS: JUNE 16, 2022 | Hutchins Palms Apartments

    • 535 W Hutchins Place
    • San Antonio, TX

INVESTMENT HIGHLIGHTS

  • Number of Units: 45
  • Acres: 1.59
  • Local Submarket has Seen 8.8% Rent Growth Over the Last Year
  • Occupancy: 98%
  • Beautifully-Maintained Value-Add Asset with Low Vacancy

EXECUTIVE SUMMARY

Independence Commercial Advisors is pleased to present Hutchins Palms Apartments, a 45-unit residential community in the Southwest submarket of San Antonio, Texas. Owner¬ship is offering the property free and clear of existing debt providing a buyer the opportunity to place new debt and the potential to achieve an IRR over a 5-year hold of over 28% and an annual cash-on-cash return of 2%. Built in 1985, Hutchins Palms enjoys a great south San Antonio neighborhood location just a few blocks from SW Military Drive, a major thoroughfare in this area of the city, and directly across the street from McCollum High School and Terrell Wells Middle School. Large demand drivers are in very close proximity including Lackland Air Force Base, Brooks City Base, Mission Trail Baptist Hospital, South Park Mall, Stinson Municipal Airport, HEB Plus, Palo Alto College, Texas A&M San Antonio, Toyota Manufacturing, and many others. This submarket of San Antonio is enjoying phenomenal rent growth of 9.17% year over year, as reported by AparmentTrends.com.

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