Texas Apartment Brokers, LLC announced today that the Executive Apartments located in San Antonio, Texas went on the sale block today. The current owner has owned the property for over 10 years and has retired and is looking for a new owner.
The Executive Apartments has 68 units and was listed for $2,100,000 or $31,000 per door. Leslie H. Cox, President of Texas apartment brokers stressed this is not a distressed property. The property is 97% occupied and has been well maintained. This will be a great property for a more active owner. The property has a great location near the Methodist Hospital Complex and Cross Road.
Although retail and office properties have suffered, multifamily in San Antonio is actually doing great. There is a significant demand for the class “B” and “C” properties.
Full detail for the property can be found at http://listing.loopnet.com/
