820 Alamo St

820 N Alamo is an exceptional property in one of the most popular areas of downtown San Antonio. Demand for the area in addition to increased development within a half-mile radius create a prime investment opportunity. The 9 unit building is being offered as-is for an investor to finish the rehab and capitalize on the market appreciation. This is a unique opportunity to own property in a great location near downtown San Antonio and Pearl, just a few steps away from many restaurants, breweries, and a CrossFit gym. The building is split into 9 units and a flexible zoning designation allows for anything from long-term or mid-term rentals, office space, retail and more! The work completed at present consists of: Foundation, framing, new electrical, new plumbing, insulation, and drywall. It is ready for a new buyer to step in and finalize renovations to bring the historic building back to its original glory. There is potential for extra income on the property via parking and laundry. In addition, there are tax advantages associated with the property. Following substantial rehabilitation of residential properties, City property taxes are frozen at the assessed value prior to rehabilitation for up to 10 years. Substantially rehabilitated commercial properties are eligible for the 5 Zero/5 Fifty tax exemption: no City property taxes are owed for the first five (5) years, and for the next five (5) years the City property taxes are assessed at 50% of a post-rehabilitation appraisal after the 5th year. The tax exemption for substantial rehabilitation remains with the property regardless of change of ownership or sale of the property." The aforementioned information can be found on the historic society of San Antonio website.