Rio @ 1604 | 14900 Nacogdoches Rd
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Rio @ 1604 14900 Nacogdoches Rd
132 Unit Apartment Building For Sale San Antonio, TX 78247
Virtual Tour
Investment Highlights
- Rio @ 1604 is a multi-building apartment complex featuring 132 units with an average size of 1,242 square feet and at 95% occupancy as of April 2024.
- Bexar County hosts major employers like Joint Base San Antonio, Methodist Health Care System, JPMorgan Chase, USAA, and Wells Fargo.
- See the offering memorandum and more files in the Data Room for exclusive information.
- Highly amenitized apartment community with a picnic area, fitness center, pet play area, playground, and sparkling pool.
- 80 units were fully renovated in 2022, garnering monthly premiums of $100+ per unit, and the seller has outlined plans for more value-add upgrades.
- Call or message now to speak to the owner directly.
Executive Summary
All Agents and Investors are Welcome Let's Make a deal!!!
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.
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.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 12.92 AC |
| No. Units | 132 | Building Size | 163,906 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1984 |
| Building Class | C | Parking Ratio | 1.83/1,000 SF |
| Sale Type | Investment |
| No. Units | 132 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 12.92 AC |
| Building Size | 163,906 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.83/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
Site Amenities
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Spa
- Breakfast/Coffee Concierge
- Furnished Units Available
- Grill
- Package Service
- Volleyball Court
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | $1,736 CAD | 949 |
| 2+2 | 122 | $1,948 CAD | 1,092 - 1,324 |
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Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Salsalito Cantina Mexican Restaurant | Mexican | $$ | 7 min walk |
| Jack In The Box | - | - | 6 min walk |
| Bandera Jalisco | Mexican | $ | 10 min walk |
| Subway | - | - | 12 min walk |
| Maar's Pizza & More | Pizza | $$ | 12 min walk |
Retail |
||
|---|---|---|
| CVS Pharmacy | Drug Store | 5 min walk |
| Circle K | Convenience Market | 8 min walk |
| The UPS Store | Business/Copy/Postal Services | 12 min walk |
| Walgreens | Drug Store | 14 min walk |
Hotels |
|
|---|---|
| Best Western |
67 rooms
6 min drive
|
| La Quinta Inns & Suites |
137 rooms
7 min drive
|
| SureStay Plus |
74 rooms
7 min drive
|
| Hilton Garden Inn |
138 rooms
9 min drive
|
PROPERTY TAXES
| Parcel Number | 15723-000-0110 | Total Assessment | $23,046,592 CAD (2023) |
| Land Assessment | $4,427,236 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $18,619,356 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
15723-000-0110
Land Assessment
$4,427,236 CAD (2023)
Improvements Assessment
$18,619,356 CAD (2023)
Total Assessment
$23,046,592 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | C-2 (Multi Family) |
| C-2 (Multi Family) |
Sale Advisor
Sale Advisor
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Mike Minnick - Mike Minnick
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Rio @ 1604 | 14900 Nacogdoches Rd
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