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Courtesy of Vortex Realty, Maria Dacia Parkins {attribution_contact}
Description
Welcome to 3307 Morales Street, a historic gem nestled in downtown San Antonio area, Texas. Location, location, location. The area is being recognized by investors for its central location and unbeatable investment opportunity. This Craftsman duplex, built in 1939, is located 10 minutes from the vibrant downtown Riverwalk. This duplex property presents an exceptional opportunity for savvy investors and DIY homeowners alike. One unit has had a full interior remodel, paint flooring, appliances, air conditioning, and more. The second unit (front 1939 Crafstman) unit needs some updating, as well as paint on the exterior and some yard work. This is a chance to continue increasing the value of this investment. Units currently have tenants. Net annual income from both units is $2,200. The Bexar County tax assessed value is $199K. Owner has listed the duplex below assessed value to allow room for new owner to continue with upgrades, paint and improvement to increase value with more sweat equity. Hurry, property wont last on the market, bring cash offers. Seller will consider owner financing at full price with large down payment.
Property Details and Features
Listing
- 15 cumulative days on market
- 15 days on market
- Listing date: 2024-05-04 05:00:00
- Price per square foot: $81
Location
- County: Bexar
- Subdivision: 26th/Zarzamora
Bedrooms
- 2 bedrooms in unit 1
- 2 bedrooms in unit 2
Bathrooms
- 1 full bathroom in unit 1
- 1 full bathroom in unit 2
Accessibility Features
- Unit 1 disability access: No
- Unit 2 disability access: No
Building
- 2,160 square feet
- 2 total units
- Approximate age: 85 years
- Built in 1939
- Builder: N/a
- Oven/Stove
- Refrigerator
- Washer
- Dryer
- Washer Connection
- Dryer Connection
- Security System
- Oven/Stove
- Refrigerator
- Washer Connection
- Dryer Connection
- Security System
Exterior Features
- Patio Slab
- Stucco
- Siding
Floors
- Carpeting
- Linoleum
Roof
- Composition
Miscellaneous
- Net operating income: $22,200
- Unit 1 rent: $900
- Unit 2 rent: $1,300
- 0% vacancy rate
- Annual operating expense: $3,200
- Gross annual income: $25,400
- All Utilities
Parking
- 2 parking spaces for unit 1
- Unit 1 parking type: Detached
- 2 parking spaces for unit 2
- Unit 2 parking type: Detached
Property
- Zoning: RESIDENTIAL
Schools
- School district: San Antonio I.s.d.
- Elementary school: Crockett
- Middle school: Rhodes
- High school: Lanier
Cooling
- Window/Wall
- Two Window/Wall
Heating
- Electric
- Panel
Utilities
- Common Water
- Common Electric
- City
Taxes
- Total tax amount: $4,966