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Seville Apartments

Class: B+
Year: 1982
Style: Garden Style

Acquired Date: August 2022
Address: 13330 Blanco Road, San Antonio, TX 78216
Property URL: www.sevilleaptsliving.com

SEVILLE_LOGO

Investment Summary

Seville is a garden-style, multifamily community in the prime North Central submarket of San Antonio, minutes from REEP Headquarters. It is comprised of 1 and 2-bedroom units with 100% Washer/Dryer connections. Seville is a picturesque community with endless outdoor amenities surrounded by legacy oak trees providing a lush park-like setting. The extensive amenities, spacious units, and tranquil setting provide the perfect place for tenants to live while enjoying the benefits of the prime North Central location.  This excellent community is also near the San Antonio airport and provides excellent accessibility to highways, employment, great schools, and entertainment.

Seville Apartments feature two swimming pools, pickle ball courts, basketball courts, playground, laundry facility, dog park, clubhouse, and extensive green space areas. The units are spacious and well appointed with faux hardwood flooring, fireplaces, vaulted ceilings, spacious closets, washer/dryer connections, wet bars, and all NEW windows and doors!

Common area amenities

  • Two Swimming Pools
  • Dog Park
  • Two Pickle Ball Courts
  • Two Basketball Courts
  • Playground
  • Laundry Facility¬†
  • Recycling Center
  • Clubhouse with Coffee Bar
  • Park Like Setting
  • Large Green Space Areas

Interior Amenities

  • Black Appliances
  • Hardwood-Style Flooring*
  • Fireplace*
  • Vaulted Ceilings*
  • Spacious Closets
  • Washer/Dryer Connections
  • Wet Bars*
  • All new Windows and Door
* In Select Units

Business Plan

The strategy for this asset is to:

  • Implement vertically integrated management to control expenses
  • Renovate 100-unit interiors – adding granite countertops, stainless appliances, upgraded cabinets, upgraded paint and lighting, and Smart Home Technology.
  • Improve the common areas with new signage, new grill areas, an updated clubhouse, dog park enhancements, pool area upgrades, new package lockers, and new landscaping to include additional lighting
  • Add new income through VIP Parking, amenity fees, storage unit occupancy improvements, and increased RUBs and Pet Fees
  • Sell or refinance within 3-5 years

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