Cushman & Wakefield|San Antonio Commercial Advisors is pleased to announce the exclusive listing of Brooks Village Townhomes, a 135 unit garden community located in booming south San Antonio, Texas. This investment benefits from the regional business growth spurred by the Eagle Ford Shale oil and gas play as well as the retail/employment hub at SE Military and Interstate Highway 37.
Built in 1974, the property offers two story townhome units with convenient parking. The low density construction provides a relaxed community feel that is unique in the submarket. Amenities include an expansive swimming pool, open barbecue areas, sport court, playground, and large clothes care facility. The property recently received new exterior paint with a modern three color motif that has improved renter traffic dramatically. New ownership can take advantage of these improvements to grow operating income. This investment is an opportunity to acquire a well positioned asset with revenue upside through unit and shared amenity enhancements.
Cushman & Wakefield’s Southwest Multifamily Advisory Group is pleased to present the exclusive listing of the 26-unit Camelback Gardens apartment community centrally located in Phoenix, Arizona.
The property is sited on approximately 1.5 acres in a well developed area that offers residents various shopping, recreation and schools. Located in close proximity to both major freeways, I-17 and SR-51, Camelback Gardens also benefits from being situated within walking distance of the METRO Light Rail.
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of 78 out of 252 condominium units at Caribbean Isle Villas located in Homestead, Miami-Dade, FL. Built in 2007, the units are 100% occupied and are available significantly below replacement cost. The units are generating over $1 million in current income. The HOA is well managed and fully funded with over $340,000 in reserves. Comparable condominium sales in the area range between $112,000 to $187,000 or $86 to $141 per square foot. The property and units are extremely well maintained. The units are spacious averaging almost 1,100 square feet, consisting of 52 2BD/2BA averaging 1,048 square feet and 26 are 3BD/2BA averaging almost 1,200 square feet.
Cushman & Wakefield/NorthMarq is pleased to present Century Commons, a premier value-add investment opportunity. The property offers 153 student bedrooms (39 units) directly adjacent to Century College, Minnesota’s largest two-year community and technical college (11,000 students). Investors are offered the opportunity to acquire a strategically located, well-maintained student housing property with substantial value-add potential through kitchen renovations and light common area upgrades.
Century Commons provides students with a unique living environment that cannot be replicated in the marketplace. Furnished units are rented by-the-bedroom with lease structures catering to the academic calendar. Amenities appeal to the unique needs of students and include wireless internet, study lounge with computers and snack machines, controlled entry, video surveillance system and barbeque area.
Future ownership will be able to build on a multi-year year track record of NOI growth and benefit from a captive audience of student renters. Low long-term interest rates, continued rent growth and minimal ongoing capital requirements will make Century Commons a solid investment with strong cash-on-cash returns.