Description

All horizontal & vertical plans are fully engineered & approved by the city of San Antonio. This shovel ready 16 unit townhouse style development project is located just outside Ft Sam Houston & the San Antonio Military Medical Center - of one of the largest military bases in the United States. This area has massive land scarcity & rarely allows dense development projects like this to be developed. Over 400' of frontage on N Walters which gets over 14,000 VPD. Each unit has it's own 1 car garage, and is almost 1,400 SQF with 3 beds, 2.5 baths, & a bonus study/living room area. This area has a huge need for additional new construction inventory, and this community creates a unique opportunity to provide new housing 1 block outside of the military base entrance. Numerous exit options exist with this project - from selling 16 individual townhouse style condo units, to selling 8 duplexes, or a stabilized rental community in an irreplaceable infill location. Less than 2 miles to The Pearl Brewery, the Broadway business corridor, & downtown San Antonio redevelopment - this project benefits from significant development momentum in the area. This project is truly shovel ready - the land was rezoned into IDZ (a flexible urban San Antonio Zoning), has been platted into 8 individual lots, and has horizontal and vertical construction plans in place. Pull your permits and go! Walk into a de-risked project and move immediately into construction and not spend the over 18 months necessary to develop and prep this land for construction. Third party lender appraisal in hand showing finished value at just under $310k per unit / $620k per building. This project is perfect for someone to capture massive immediate upside by executing on the construction, or selling the entire project or individual units or buildings to investors. Brand new Starbucks just opened that is walking distance to this property! Opportunities like this don't come along often - come be apart of this exciting development project in one of the hottest areas of San Antonio.