1875 Thompson Pl – Thompson Apartments

Overview Summary:
20 Unit Apartment Building Offered at $1,985,000 in San Antonio, TX

Target Raise: $1,070,000

# Interest: 4

% of Interest: 2.5%

Start Date Goal: June 2020

Investment Summary:

Crowdfunding Real Estate Projects via https://www.equitydoor.com EquityDoor

Sophus Properties is proud to present Thompson Apartments to the investment community. This 20 unit asset built in 2007 sits on approximately 1.7 acres and is situated only a short walk from the entrance of the Port of San Antonio. With it’s easy access to Hwy 90, tenant’s have accessibility to all major points in San Antonio with a short drive. The complex is comprised of 5 separate two story buildings with stucco exterior. All units are 3 bedroom 2 baths. Most units have upgraded vinyl plank flooring throughout with washer and dryer hookups included in each unit.

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SQ. FT.
3+2 20 $1,050 1,000
FINANCIAL SUMMARY (PRO FORMA – 2019) ANNUAL ANNUAL PER SF
Gross Rental Income $252,000 11.34
Other Income $1,200 0.05
Vacancy Loss $17,640 0.79
Effective Gross Income $235,560 10.60
Taxes $50,000 2.25
Operating Expenses $61,394 2.76
Total Expenses $111,394 5.01
Net Operating Income $124,166 5.59

THE OFFERING

Price $1,985,000 Building Class B
Price Per Unit $99,250 Lot Size 1.72 AC
Sale Type Investment Building Size 22,220 SF
No. Units 20 Average Occupancy 90%
Property Type Multifamily No. Stories 2
Property Sub-type Apartments Year Built 2007
Apartment Style Garden Parking Ratio 5.95/1,000 SF

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