Mill Bridge Apartments

1045 Sanger Avenue, New Braunfels, TX

Property Summary

SALES PRICE Market Pricing
PROFORMA NOI $262,710
CURRENT OCCUPANCY 80%
RENTABLE SF 36,192 SF
LAND SIZE/DENSITY 5.96 Acres | 8 Units/Acre

Investment Overview

OLDHAM GOODWIN is pleased to present the opportunity to acquire Mill Bridge Apartments, a 48-unit apartment community strategically positioned along the Guadalupe River in New Braunfels, Texas. Situated adjacent to the historic Faust Street Bridge and minutes from Interstate 35, the property offers residents convenient access to major employers, healthcare facilities, retail destinations, and entertainment venues throughout the Austin-San Antonio corridor. The asset benefits from a highly desirable riverfront setting, proximity to one of Texas’ fastest-growing communities, and direct access to a regional economy recognized for its job growth, business-friendly environment, and strong population trends. Additionally, the units have already demonstrated successful rent growth through interior upgrades, providing a clear path for a new owner to continue renovations and capture additional upside through increased rental income and long-term value appreciation.

Highlights

Boutique 48-unit apartment community offering a smaller-scale asset with operational efficiency and institutional-quality market fundamentals.

Located directly adjacent to the Guadalupe River and historic Faust Street Bridge, creating a unique setting not easily replicated by competing properties.

Positioned just minutes from Interstate 35, providing convenient connectivity between Austin and San Antonio.

Value-add opportunity with a generous portion of the unit interiors remaining available for renovation and future rent growth.

Surrounded by major employers including distribution, manufacturing, healthcare, education, and tourism-related industries that support sustained housing demand.

Located within New Braunfels, one of the fastest-growing cities in the United States and a key growth market within the San Antonio MSA.

Access to more than one million square feet of destination retail at the San Marcos Outlet Centers, located approximately 13 miles from the property.

Minutes from Town Center at Creekside, featuring a broad mix of national retailers, restaurants, entertainment venues, and daily-needs shopping options.

Beneficiary of the strong economic fundamentals of the San Antonio-New Braunfels MSA, including population growth, corporate relocations, and continued employment expansion.

Situated just across the Guadalupe River from the proposed 29 acre River Mill redevelopment project, accessible via the pedestrian-only Faust Street Bridge, adjacent to the property.