Value Add In San Antonio

San Antonio, Texas
Multi-Family and Apartment Investing
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Value Add In San Antonio

Jamie Parker
Real Estate Investor · Memphis, TN · Member since 2016 · 405 posts · 131 votes

I would be hard pressed to find an investor, particularly multifamily investor, that doesn't know their market inside and out. Even harder to find an investor that hadn't seen a listing in their asset class:

I was talking to a broker about a 12 unit in San Antonio and I the resemblance was very similar to a 16 unit set up Dallas.

- Only 3 remaining tenants, 

- Owner wanting to transfer the property vacant.

- Seller wanting at or above $1m to exit.

 the Dallas property is in a historic district, the San Antonio one, Im not sure yet. 

Is heavy apartment renovations a thing of the past, for now?  Is redevelopment a more viable option these days? 

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  • Joseph CacciapagliaBusiness Member
    Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
    1y

    Depending on location, $1MM is probably too much for a 12 unit here in San Antonio that needs a major renovation. Plenty of people are still renovating apartments, but numbers have to be very good today, because financing is tough.

    [email protected]979-218-2286
    Joseph Cacciapaglia powered by Morty
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    • Jamie Parker
      OP
      Real Estate Investor · Memphis, TN · Member since 2016 · 405 posts · 131 votes
      1y

      @Joseph Cacciapaglia thanks for replying, felt like I was shooting in the dark with the question. Funny thing is that a similar set up in Dallas went up for auction @300k last week. I agree with your suggestion. I want to know how to valuate and estimate  purchase price on a vacant multifamily. Do you estimate repair on a unit-by-unit repair estimate? 

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    • Joseph CacciapagliaBusiness Member
      Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
      1y
      Quote from @Jamie Parker:

      @Joseph Cacciapaglia thanks for replying, felt like I was shooting in the dark with the question. Funny thing is that a similar set up in Dallas went up for auction @300k last week. I agree with your suggestion. I want to know how to valuate and estimate  purchase price on a vacant multifamily. Do you estimate repair on a unit-by-unit repair estimate? 


      It depends on what's needed. There are some things, like flooring, paint, roofing, that I'll use some internal estimates for. For others, I'll want a contractor to provide numbers before pulling the trigger.

      [email protected]979-218-2286
      Joseph Cacciapaglia powered by Morty
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