6947 Everhart Rd

Corpus Christi, TX 78413

250

Unit Count

1984

Year Built

866 SF

Avg Unit Size

216,496 SF

NRSF

All Cash

Sale Terms

The Offering

Berkadia’s Multifamily Investment Advisory Team is pleased to announce the exclusive listing of Solana Vista, a 250-unit, garden-style, value-add opportunity located in the heart of Corpus Christi’s dynamic South Side Submarket. Strategically positioned on the residential end of Everhart Road, Solana Vista offers residents convenient access to nearby employment and entertainment hubs as well as both necessity and destination shopping options. Solana Vista features five spacious floor plans with one-, two-and three bedroom apartments efficiently positioned across 12 acres in thirty-seven (37) residential buildings equating to favorable density of 21 units per acre. The current ownership has undertaken a substantial renovation at Solana Vista, including significant capital expenditures and the successful implementation of an upscale value-add program on approximately 118 units, representing 47.2% of the property. This has resulted in average in-place rent premiums of $158 per month. A new owner will benefit from the capital improvements already made and the potential upside of renovating the remaining 132 classic units, which comprise 52.8% of the property. Solana Vista presents an opportunity for investors to capitalize on further enhancements as well as a broader local market recovery, positioning the asset for strong cash flows and long-term value appreciation.

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INVESTMENT HIGHLIGHTS 

LOCATION

Contact

Austin Office
2500 Bee Cave Road 
Austin, Texas 78746 

Austin Investment Advisors

Kelly Witherspoon
Senior Managing Director
512.226.8706
[email protected]

Justin Cole
Managing Director
512.226.8711
[email protected]

Adam Sumrall
Director
512.960.2674
[email protected]

Austin Mortgage Bankers

Cameron Hart
Senior Director
512.226.8708
[email protected]

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.

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