Real Estate Insights: Stratton Park Apartments Opportunity
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Real Estate Insights: Stratton Park Apartments Opportunity
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In this episode of the Deep Dive, we explore an intriguing investment opportunity in the Stratton Park Apartment Complex located in North San Antonio. This off-market, 127-unit Class B asset, built in 1985, is being sold for $10.75 million—$2.7 million less than its purchase price in 2023, creating a potentially lucrative chance for accredited investors. We review the property's compelling features, including its strategic location, minimal capital expenditure needs, and high occupancy rate. Additionally, we discuss the strengths of the San Antonio market, such as robust job growth, population increase, and stable operating costs. The financial structure of the deal includes a seven-year loan with a 5.41% fixed interest rate and two years of interest-only payments. Investors can choose between two classes, with Class A offering a stable 10% preferred return and Class B providing an 8% preferred return plus a share in profits. With projected IRR of 16.7% and conservative underwriting assumptions, we conclude by emphasizing the importance of due diligence and professional advice. This episode is a comprehensive guide to understanding this unique investment scenario.
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