1019 Friendship Lane - 1019 Friendship Lane, Fredericksburg, TX 78624

New roofs in 2019 and no deferred maintenance. Current owners spent over $1.7 mm in capex and improvements, allowing new owner to focus on unit upgrades. Rare positive leverage opportunity with a blended interest rate of 4.3 percent if bought with the loan assumption offering a rate of 3.04 percent and supplemental at 7.58 percent.. Attractive unit mix of all two and three-bedroom floor plans and a mix of one and two-story buildings on over 14 acres. Rents are significantly below area comps, providing new buyer with opportunity to update classic and hybrid units and bring rents up to market. Two-bedroom units with washer and dryer connections on average are over $400 below area rent comps, while 3 bedroom units are around $300 below comps.. Purchase late 90s construction property in a flourishing tourist town attracting over 1.5 million visitors each year. Property is close to major attractions including Downtown Fredericksburg’s Main Street, Enchanted Rock State Natural Area, wineries, LBJ State Park and Historic Site, National Museum of the Pacific War and Wildseed Farms.. Room to add additional amenities at back of property such as a soccer field, pickleball or basketball court, splash pad, expanded picnic area, etc …. Maintains over 90% occupancy with less than 1 percent delinquency