All Agents and Investors are Welcome Let's Make a deal!!! Loan Assumption - You can Assume the loan we are putting in place. Terms will be 30 Amortization, 5.25% Interest Fully Amortized 10 year term. Or 30 Amortization 10 Year Term With 10 years of Interest only. Purchase it before we get our loan or Assume it later. You Choose. Rio @ 1604 comprises 35 two-story buildings that contain 132 units with strong occupancy and market rents. It sits on 12.92 acres with 300 parking spaces and amenities like a picnic area, fitness center, pet play area, playground, and a sparkling pool. The property was built in 1984, and comprehensive renovations were completed in 2022 with several remaining upgrades options to bolster the success of Rio @ 1604. Work completed by the current owner includes 80 units with granite countertops, new flooring, updated appliances, new paint, and upgraded plumbing and lighting fixtures for monthly premiums of over $100 per unit. (Can be Higher) Washers and dryers were installed in 80 units for monthly premiums of $45 per unit, 100% of the windows were replaced in all 132 units and the clubhouse, signage was updated across the property, the exteriors got repainted, and the parking lot was resurfaced. The seller has outlined several potential upgrades for value-add opportunities. These include renovating and adding washers and dryers to the remaining classic units, opening up the possibility for $145 premium per month. Outside of the units, buyers can add 12 private yards for a $75 premium and 25 reserved parking stalls for a $15 premium. Located at 14900 Nacogdoches Road, Rio @ 1604 is positioned near amenities and arterial roadways that will maintain its desirability in the long term. The expansive Comanche Outlook Park and multiple schools are just minutes away, making this an ideal living option for families. There are plenty of neighborhood amenities to knock out errands nearby. Residents can reach H-E-B, Planet Fitness, Walgreens, Ross, Petco, and dozens of restaurants in five minutes or less. In recent years, Northeast San Antonio has undergone significant transformation, embracing a more economically diverse workforce spanning various industries. Despite this newfound diversification, local performance has closely mirrored trends across the metro area. Notably, between early March 2021 and early March 2024, rent growth surpassed metro-wide averages, echoing patterns observed throughout San Antonio. Residents have been drawn to these job opportunities, and Rio @ 1604 is ideally positioned to cater to these employees.