|Number of units||72|
JLL is pleased to offer for sale Laurel Heights, a residential property of 3.5 acres. It is a six-building, 72-unit garden apartment community located within the loop of Route 337, in the heart of New Braunfels, Texas. Built in 1985, Laurel Heights is positioned near the intersection of Landa Street and North Walnut Avenue (SH-46), two major city thoroughfares. The property provides convenient access to all that New Braunfels offers and is in walking distance to many neighborhood shops and restaurants.
The property’s central location between San Antonio and Austin has contributed to the area’s accelerated growth, as access to Loop 337 and IH-35 provide residents with an expeditious commute to the two largest economic hubs in Central Texas.
• Fee simple interest
• Uniquely positioned to take advantage of pent-up demand for workforce housing options
• Current ownership has focused on making some exterior improvements, while leaving the interiors open to full renovation
• This value-add opportunity presents investors with the ability to push rents while still offering an affordable leasing option relative to Class A properties and more in line with top performing, older vintage assets