TERRELL HILLS | EXCEPTIONAL LUXURY RENOVATION OPPORTUNITY - $319,900 Acquisition | $880,000+ Projected ARV | 0.40 Acre Lot - An established address. A substantial value-add opportunity. A compelling investment basis. Positioned in the highly sought-after Terrell Hills community, 924 Morningside Drive presents an exceptional opportunity to acquire and transform a mid-century residence into a premier luxury home in the desirable 78209 market.
Set on an expansive 0.397-acre lot beneath mature trees, this single-story, 2,560-square-foot residence offers the footprint, land, and location for a remarkable transformation. The proposed renovation and expansion increase the residence to approximately 2,894 square feet, featuring 4 bedrooms, 3 bathrooms, a private office, and thoughtfully reconfigured living spaces designed for today's luxury buyer.
An extended two-car garage, newer roof, and generous outdoor space further complement the property's potential. Offered at $319,900 with an estimated renovation budget of $330,000 and a projected after-repair value of $880,000+, the combined acquisition and renovation cost of $649,900 represents approximately 74% of projected ARV, with a projected gross spread of $230,100 before additional expenses.
Nearby comparable sales range from $775,000 to $795,000, with the only fully renovated property among the three selected comparables achieving a reported $365.43 per square foot. In comparison, the projected $880,000 resale value for 924 Morningside represents approximately $304.08 per square foot, providing a meaningful reference point for the proposed luxury renovation.
The opportunity extends beyond renovating a residence. It is the ability to create a distinguished luxury home in one of San Antonio's most desirable residential communities, with a compelling acquisition price and substantial resale potential. A comprehensive eight-page investor package featuring existing and proposed floor plans, conceptual rende
rings, interior design concepts, comparable sales, and investment projections is available for review. Request the complete investment package and schedule your private property tour.
