Winter Garden Apartments boasts stable in place occupancy and yield with significant value-add opportunity. This garden style apartment complex is well located off the Main Street thoroughfare in Uvalde, TX, a proven market for multifamily investment. Almost a dozen comparable vintage apartments in Uvalde evidence significantly higher in place rents than Winter Garden currently, and Class A newer construction fetches upwards of $1.15 per square foot in this market. The property has a balanced unit mix of one and two bedroom floor plans, leasing office and laundry center on site with machines owned. There is additional acreage for development of additional multifamily units, and the property sits on almost 8 acres of beautiful mature trees and landscaping.
Located 86 miles west of San Antonio and 70 miles east of Del Rio, Uvalde County is home to a population of around 27,000 residents. There are several business incentives for the city, and recent projects include $83.5M expansion to Uvalde Memorial Hospital half a mile from Winter Garden. Southwest Texas Junior College in Uvalde enrolls about 6,000 students ushering eligible workforce to the city and is located 1.5 miles from the apartments. Uvalde has an unusually large airport that serves as a hub for three jet renovation companies. Walmart, HEB, Hobby Lobby, Uvalde City and Schools, TJ Moore Lumber, Uvalco Supply and MG Building Materials are other strong employment drivers.
