Pride of Ownership Property - Santa Fe Condo Apartments is a one-of-a-kind property strategically located in north central San Antonio, Texas. The property has been immaculately maintained with over $500,000 of capital improvements completed over the past three years. These improvements set the property apart from the competition with an impressive set of amenities. This is a great cash flow opportunity for a discriminating buyer.
Strategic Location & Access - Santa Fe Condo Apartments offers a strategic and sustainable location north of Loop 410 and inside Loop 1604. Located within the wellrespected Northeast Independent School District, residents are within walking distance of 976-acre McAllister Park and the Blossom Athletic Center. Santa Fe Condo Apartments offers easy access to US Hwy 281 (the major north/south travel corridor in San Antonio) and is less than 1/2 mile to the newly completed Wurzbach Parkway making it one of the most accessible locations in North Central San Antonio.
Unique Community and Apartment Home Amenities - The amenity packages offered at Santa Fe Condo Apartments are truly unique and provide for a strong community feel not found in more traditional apartment developments. Condominium quality construction, stylish interior upgrades, and the unique recreational opportunities, offer residents a prestige living experience. This is the perfect residence for busy professionals who want more privacy and sense of community than a large apartment complex can offer.
Future Development Opportunities - Santa Fe Condo Apartments is comprised of 2 separate parcels totaling ~ 6.74 acres, with all the units constructed on the eastern most parcel. The west parcel is currently utilized as a private community park and presents an opportunity to drive additional value, either as Phase 2 additional apartments or sold off for a potential townhome development. Additionally, the nature of the original construction and layout provide for a potential condo conversion exit strategy.
Cushman & Wakefield is pleased to present for sale, Sommerset Place Apartments, a 36-unit value-add opportunity in a tranquil pocket of Brooklyn Center, just off Highway 100 and next to Centerbrook Golf Course.
The property is located in a quiet residential neighborhood on the South side of Lions Park and steps from Shingle Creek and the Shingle Creek Regional Trail. Sommerset Place is also conveniently located minutes from Target, Walmart Super Center, Cub Foods, CVS Pharmacy, LA Fitness and numerous national and local restaurants. The property is just 10 minutes north of downtown Minneapolis and five minutes from both Brooklyn Center High School and Middle School.
Sommerset Place is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly 2-Bedroom units and the average in-place rent is roughly $885/Month. Comparable properties in the submarket are renting 2-Bedroom units for $1,100/Month (see rent comps on Page 37 of OM), which is achievable at Sommerset Place by implementing a light in-unit renovation plan. The current vacancy rate in the city of Brooklyn Center is just 2.0% and the area is in high demand given its close proximity to downtown Minneapolis and other local attractions.
Sommerset Place is offered free and clear of existing financing and tours will begin the week of September 5th, 2018. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.
The "South Beach Resort" is THE premier multifamily asset in the Las Vegas valley, as it combines true resort living with an unequaled lifestyle and hospitality experience. Recently completed, the property is poised to take advantage of the fastest growing submarket in Las Vegas. Location and asset type makes this a unique offering, as the property is nestled between the Red Rock Canyon National Conservation area and the famous Las Vegas Strip, and benefits from proximity to Downtown Summerlin, and ease-of-access to major expressways & transportation.
Currently, Las Vegas is the 29th largest MSA in the United States, and number two in rent growth among major metros. Rent growth figures have averaged above 6% through 2016 and 2017, and the Southwest market continues to have the highest rent growth figures in the greater MSA. Additionally, Las Vegas leads the country in job creation, with year-over-year job gains of 3.3%. In total, 43,800 jobs were created through 2016 & 2017, and unemployment has stayed stable at 4.9%. This job growth, paired with above-average population growth, continues to expand the local rental market.
The result is a creation of the next generation of multifamily living that has never been witnessed in Las Vegas, or nationwide.