Multifamily
The Eight Forty
840 E Mulberry Ave, San Antonio, TX 78212
Listing Price: $7,750,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of The Eight Forty, a 47-unit, Class A boutique apartment community delivered in 2017 within the Tobin Hill district of San Antonio, Texas. Located less than 0.21 miles from Methodist Hospital Metropolitan and 1.26 miles from downtown San Antonio's 75,000-job employment core, this asset benefits from immediate proximity to healthcare, transit, and the nationally acclaimed Pearl District. The property offers all one bedroom floor plans in a modern, efficiently designed 32,443 square foot building — achieving 100% occupancy and $2.32/SF market rents.
The Eight Forty
Investment Highlights
- With modern construction, energy-efficient systems, and boutique scale, the asset commands premium rents at $2.32/SF — 18% above legacy submarket inventory — while maintaining 100% occupancy.
- The property carries a fully assumable HUD loan with a current balance of $5,857,642 at a 3.85% fixed interest rate — representing 200–250 basis points below current agency financing.
- An active CCHIP Agreement provides 100% reimbursement of City of San Antonio tax liability (net of base year) through 2031. Annual reimbursements range from $32,362 to $37,969.
Exclusively Listed By
Listing Price: $7,750,000
Investment Highlights
- With modern construction, energy-efficient systems, and boutique scale, the asset commands premium rents at $2.32/SF — 18% above legacy submarket inventory — while maintaining 100% occupancy.
- The property carries a fully assumable HUD loan with a current balance of $5,857,642 at a 3.85% fixed interest rate — representing 200–250 basis points below current agency financing.
- An active CCHIP Agreement provides 100% reimbursement of City of San Antonio tax liability (net of base year) through 2031. Annual reimbursements range from $32,362 to $37,969.
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing of The Eight Forty, a 47-unit, Class A boutique apartment community delivered in 2017 within the Tobin Hill district of San Antonio, Texas. Located less than 0.21 miles from Methodist Hospital Metropolitan and 1.26 miles from downtown San Antonio's 75,000-job employment core, this asset benefits from immediate proximity to healthcare, transit, and the nationally acclaimed Pearl District. The property offers all one bedroom floor plans in a modern, efficiently designed 32,443 square foot building — achieving 100% occupancy and $2.32/SF market rents.
Exclusively Listed By
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