101 MACRAE LN Kirby TX 78219-1062

Northmarq is pleased to present Briarwood Apartments, a value-add asset consisting of 31 units located in Kirby, Texas. The Property is in the San Antonio MSA, approximately 10 minutes east of downtown, Alamo Heights, and The Pearl. This agency eligible asset has tremendous upside potential. A new owner can benefit from the increasing rental rates in the submarket and continue to renovate the unit interiors to achieve additional premiums.

Please visit our Property Website to sign the Confidentiality Agreement and access the Offering Memo/Financials:

https://listings.northmarq.com/multifamily/briarwood-apartments.aspx

Proven Renovation Program

The current owners have refreshed Briarwood Apartments’ interior and exterior by adding modern and urban finish-outs making the Property. Capital improvements at the Property include resurfaced parking lots, HVAC replacements, electrical repairs, interior upgrades such as resurfaced cabinets, new tiles and tubs, and a fresh coat of paint.

Value-Add Opportunity

Briarwood Apartments has undergone only light interior renovations in the past couple of years so there is potential to increase rental rates and capture a potential rent premium. A renovation strategy can consist of granite countertops, faux-wood flooring, modern fixtures, painted kitchen cabinets, and stainless-steel appliances, which could attract a more refined resident base.

Growing Employment Hub

A changing landscape for industrial space can drive additional industrial demand in San Antonio thanks to a new USMCA trade agreement and the emerging trend of onshoring. As it is the largest industrial submarket in Central Texas, apartment demand is expected to increase in Northeast San Antonio.

Highly Trafficked Location Near I-35

Briarwood Apartments is located in the Northeast submarket, nestled between the Northcentral and Northeast submarkets of San Antonio. The Property is situated adjacent to a major intersection of Interstate 35 and Loop 410 with over 90,000 vehicles per day, which can be an attractive factor for many prospective residents.