Summary:
The Multifamily Group is pleased to present The Helix, an exclusive value-add opportunity in San Antonio, Texas. Built in 1981 and 1984, this 400-unit community features a mix of 324 garden-style apartments (1981) and 76 townhomes (Built in 1984). Offering a diverse selection of nine floorplans, The Helix includes one- and two-bedroom layouts, with unit sizes ranging up to 1,000 square feet and an average unit size of 767 square feet. Currently 91% occupied, the property is being offered free and clear of existing debt. Ownership has invested over $2.3 million in improvements.
Capital Expenditures:
- $1.5MM Interior Renovations
- $137,000 HVAC Replacements
- $87,000 Exterior Paint
- $61,000 Office Interior Renovations
- $61,000 Landscaping
- $45,000 Signage
- See more on pages 9-10 of the OM
Value-Add:
- Premium Interior Renovations (222 Classic Units - $175 Average Proven Premiums)
- Community Wifi
- In-Unit Washers and Dryers (267 with Connections)
- Implement Valet Trash
- Reserved and Covered Parking
- Electronic Package Delivery Lockers
- See in-depth analysis on pages 11-12 of the OM
Property Location:
The Helix is situated in a thriving area of San Antonio, encompassing over 350,000 residents within a 5-mile radius, with a median income exceeding $53,000 per year. This prime location offers excellent access to major employers, including USAA’s headquarters—a Fortune 500 company—and the University of Texas Health Science Center. Positioned just half a mile from Interstate 10, the property provides residents with convenient access to numerous destinations within a 10-minute drive, such as H-E-B, Sam’s Club, Costco, Sprouts, Chick-fil-A, Starbucks, and various other nationally recognized restaurants and retailers. Downtown San Antonio is a mere 15-minute drive southeast along I-10, ensuring an easy commute.