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Magnolia Flats 3102 Hillcrest Drive | Balcones Heights, TX 78201

OFFERING SUMMARY

Investment Opportunity by the Medical Center Magnolia Flats is a charming 54-unit apartment community located along Hillcrest Drive in Balcones Heights, . The property offers mostly one- and two-bedroom floor plans with an average size of 785 SF. Interior upgrades in most units include laminate wood flooring, gas stoves, dishwashers, brushed nickel fixtures and walk-in closets. Residents at Magnolia Flats may opt in for one of its 22 assigned covered parking spaces or rent out one of the 47 storage units. The community offers amenities that include an on-site leasing office, a sparkling pool, barbecue grill, picnic tables, playground, pet park and on-site laundry facility.

Strong Nearby Demand Drivers

Located off the intersection of Hillcrest Drive and Fredericksburg Road, this community is conveniently located with nearby access to major highways (I-10 and Loop 410) and offers rental prospects a quick commute to some of the city’s most important employment centers including the South Medical Center, and USAA. Residents of the immediate neighborhood also benefit from the proximity to a variety of retailers, employers, restaurants, entertainment districts, and other major destinations.

High Yield Potential In recent twelve months, Magnolia Flats has steadily improved occupancy, which currently sits at 87% (Feb 2021). The property offers a new investor opportunity to earn a high yield through continuing to increase occupancy. The property is offered free and clear allowing a buyer to take advantage of today’s historically low interest rates. 26 27 5 MILES 10 10

3 MILES 21 16 25 410 11 24 31 281

1 MILE 28 35 14 18 12 5 13 19 29 17 33 20 32 MAGNOLIA 16 FLATS 34 15 9 1 2

37 10 3 30 6 410 36 23 35 4

38 7 22 10 8 AREA MAP

ENTERTAINMENT HEALTHCARE 21 EDUCATION 11 1 San Antonio 22 32 Benjamin Franklin 12 Elementary School 2 Methodist Hospital Texsan 18 Pearl Farmers Market 33 Whittier Middle School 3 The DoSeum SHOPPING 19 Lowe's Home Improvement 34 Thomas Jefferson 4 San Antonio Museum of Art 138 Walmart Supercenter 20 Sprouts Farmers Market High School 5 San Antonio Aquarium 149 19 Ross Dress for Less Target 35 Brown Mackie 6 1510 H-E-B 20 Marshalls & HomeGoods College San Antonio 7 Walk 1611 Walgreens PARKS & RECREATION 36 8 17 JC Food Mart 28 The Quarry Golf Course 37 St. Mary's University 9 Regal Cielo Vista & RPX 18 The Home Depot 29 Old Spanish Walking Trails 38 Our Lady of the Lake University 19 Best Buy 30 Park AVIATION 20 Ingram Festival 31 Oak Hills Country Club 10 San Antonio Shopping Center International Airport

Greysteel | 1717 Main Street | Suite 4650 | Dallas, TX 75201 469.518.5040 | www.greysteel.com Texas License 9003023 Designated Broker | Doug Banerjee | 617101 SALES FINANCE PAULA OROZCO-LAPRAY J.R. ELLIS DANIEL HARTNETT Sr. Associate | Investment Sales Sr .Director | Investment Sales Director 210.581.9055 512.399.6945 469.453.0194 [email protected] [email protected] [email protected] TX 695116 TX 609411

For more information or to inquire about Greysteel, please contact Ari Firoozabadi, CEO | [email protected] | 202.417.3873 Offices Nationwide | License Information and Online Disclosures Texas Real Estate Commission Information About Brokerage Services | Texas Real Estate Commission Consumer Protection Notice

Greysteel, seller, and their respective representatives make no representations or warranties, express or implied,regarding the accuracy or completeness of the information in this Offering. All references to acreage, square footage, distance, and other measurements are approximations and must be independently verified. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This Offering is subject to prior placement, withdrawal, cancellation or modification without notice. © 2017 Greysteel © 2021 Greysteel