Asking Price Contact for pricing
Sq. Footage
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 1985
Lot Size

Property Description

JLL has been exclusively retained to offer qualified investors the unique opportunity to purchase a fee-simple interest in Laurel Heights (The “Property”). Situated on 3.5 acres, Laurel Heights is a six-building, 72-unit garden apartment community located within the loop of Route 337, in the heart of New Braunfels, Texas. Built in 1985, Laurel Heights is situated on approximately 3.5 acres and is positioned near the intersection of Landa Street and North Walnut Avenue (SH-46), two major city thoroughfares. The Property provides convenient access to all that New Braunfels offers and is in walking distance to many neighborhood shops and restaurants. The Property’s central location between San Antonio and Austin has contributed to the area’s accelerated growth, as access to Loop 337 and IH-35 provide residents with an expeditious commute to the two largest economic hubs in Central Texas. Laurel Heights is uniquely positioned to take advantage of pent-up demand for workforce housing options. Current ownership has focused on making some exterior improvements, while leaving the interiors open to full renovation. This value-add opportunity presents investors with the ability to push rents while still offering an affordable leasing option relative to Class A properties and more in line with top performing, older vintage assets.

Investment Highlights

  • Address: 483 Laurel Lane, New Braunfels, TX 78130
  • Year Built: 1985
  • Units: 72
  • Average Unit Size: 715 SF
  • Rentable SF: 51,504 SF
  • Occupancy: 90%
  • Acres: 3.5
  • Parcel #: 71451


Richard Mireles
Richard Mireles
VP, Capital Markets
Scott LaMontagne
Scott LaMontagne
Managing Director, Captl Mkts

JLL  financing

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