El Monty of San Marcos

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Investment Highlights

• Attractive Loan Assumption – 3.40% Freddie Mac Loan. 30-year amortization and matures in May 2029. Approximate loan balance = $5,040,000±
• Balanced Demographics and Unit Mix – Less than 2 miles from Texas State University (4th largest in Texas) as demand driver with less than 50% students (per management). Offers workforce housing to surrounding employers with 57% one-bedrooms and 43% two-bedroom units.
• Capital Improvements – new roof, painting, parking overlay, lighting, and signage within the last 5 years. Majority of unit interiors have been turned to their standard package although could benefit from additional upgrades as they are currently one of the more affordable rent options in the area.
• Construction Style – Two-Story Garden Style Walkup built in 1983. Central Courtyard with a pool, grilling area and picnic table. Management Office and Laundry Room (not included in the unit count).
• Area Attractions – San Marcos River is a popular destination, as is the Historic Downtown Square and the Premium / Tanger Factory Outlet Mall is one of the largest tourist attractions in the state.
• Major Employers – this growing college town is becoming more of a suburb of Austin and major hub between Austin and San Antonio. The property is surrounded by abundant retail, grocery stores and industrial fulfillment centers including Amazon, and serving as a draw for Medical Centers in region.