Port Townhomes 309 Calgary Ave 12 Unit Apartment Building For Sale San Antonio, TX 78226

Summary:
The Multifamily Group is pleased to present The Port Townhomes (the “Property”), a fully leased 12-unit townhome community (inclusive of a 5-bedroom model unit kept vacant for purposes of this Offering) located in San Antonio, Texas. Believed to have been constructed in circa 1950’s as a subsection of the historically-designated Billy Mitchell Village (now known as the Preserve at the Port) that was designed by architect Erwin Gerber for the U.S. Department of Defense for use by military families, it was called at the time to have been part and parcel of the largest military housing property in the nation’s history. The Offeror believes the Property to have at one time been an important component of this historically designated property, comprised of three apartment buildings of like architecture situated on 2+ acres (adjacent to the economically-important and burgeoning Port San Antonio) along South General McMullen and Calgary Avenue leading to the main entrance on Gilmore Avenue of the newly-refurbished and restored Preserve at the Port. The Property offers four spacious floorplans, each having abundant storage and equipped with large utility rooms with washer/dryer connections for standard-sized equipment. The Property currently operates as “all bills paid” and six units benefit from rental subsidies through Section 8 and local assistance programs (refer to the rent roll for details). There is an opportunity for new ownership to reduce water expenses by implementing a conservation program (cost-saving estimate from Save Water Co. can be requested from TMG), as well as for new ownership to convert each unit to its own electrical and gas supply through separate meters installed by CPS. Additionally, it should be noted that the Property is believed to be situated within the City of San Antonio “Opportunity Zone” which can possibly provide a multitude of investment benefits to new ownership.”. Of equal interest to a new ownership is the possibility of having the Property potentially designated as a historical landmark and possibly added to the National Register of Historic Places, based on its historical significance to military history and its architecture¹. While current ownership has never explored such opportunities, it may be possible to initiate the historic designation process in order to qualify for historic tax credits and other possible benefits.
Prime Location:
The Port Townhomes is strategically located adjacent to Port San Antonio at the entrance to one of the main entry points into this burgeoning aerospace and cybersecurity facility which is situated on approximately 1,900 acres, employing nearly 15,000 people in various capacities. Being strategically located near US-90 and TX-371 Spur, the Property provides seamless access to key military installations, including JPSA-Kelly Field Annex and JPSA Lackland and Medina Training Annex. Downtown San Antonio is easily reachable via I-I0, facilitating commutes to major employers such as Methodist Hospital Metropolitan and Southwest Research Institute (SwRI). Additionally, the area boasts a strong median household income of $109,000, reflecting the community’s economic stability and growth potential. Perfect for large families given the three, four and five bedroom floorplans, the Property is located within the locally-active Thompson Place Neighborhood Association. The Property is also within walking distance to one of the largest High Schools within the Edgewood School District known as Kennedy High School.
1. While the Historic and Design Review Commission (“HDRC”) of the City of San Antonio appears to have approved the request from the Texas Historical Commission to designate the Preserve at the Port as a historic landmark (based on its significance to United States military history, the prominence of its architect and the overall architecture of its apartment residential buildings), no further information as to the current status of its historic designation and registration on the National Register of Historic Places is immediately or readily available to the Owner.