4210 Fredericksburg Rd
Balcones Heights, TX 78201
The Harrison Grant Apartments · Multifamily Property For Sale · 327 Units

HFF has been exclusively retained to offer qualified investors the unique opportunity to purchase fee simple interest in Santa Fe Place Apartments (The “Property”), a 327-unit apartment community ideally located in Northwest Central San Antonio. Built in 1974, the Property features 14 buildings on a well maintained, 6.98-acre site featuring a large community pool, picnic area, BBQ pits, children’ playground, inviting lounge, and a professional business center. An incredible value-add opportunity exists as current rents are below market and over $2 million dollars has been invested into capital projects since 2015, primarily exterior focused, providing potential investors a prime opportunity to increase revenue by renovating unit interiors to match the rental demand for the area. Santa Fe Place’s excellent infill location on Fredericksburg Rd near the heavily trafficked intersection of IH-10 and Loop 410 provides residents immediate access to San Antonio’s largest economic drivers including the South Texas Medical Center, San Antonio International Airport and Downtown San Antonio. Residents also enjoy access to some of the city’s most desirable retail and recreational amenities provided at Wonderland of the America’s Mall, Northstar Mall, Alamo Quarry Village and Olmos Park. Additionally, Santa Fe Place and the booming Northwest submarket benefit from the continued population growth and demand for housing in the immediate area, resulting in market leading occupancy (94.9%) and healthy annual rent growth (3.7%) across the submarket. Current owner has spent approximately $2 million on capital projects at Santa Fe Place since 2015, doing the necessary repairs to the property’s exterior, physical, and mechanical items. This includes: •Exterior Stucco/Wood Replacement •State of the Art Clubhouse & Leasing Center •Full Exterior Paint •Resurfaced Parking Lot •Boiler •Stairwell Repairs •Pool and Deck Renovations •Updated Landscaping and Signage Santa Fe has successfully upgraded approximately 157 units with new plank flooring, resurfaced countertops and newly painted cabinets generating average monthly premiums of $75 or 17% per the most current rent roll. This provides new investors the opportunity to continue this program on the remaining 170 units or further enhance the unit upgrades with the following: •Modern Fixtures •Black Appliances •Tile back-splash •New cabinetry and/or faces •Located adjacent to the intersection of Loop 410 and IH-10, Santa Fe Place benefits from incredible visibility as the intersection averages 245,000 VPD. •Population growth to the immediate area continues to be robust as over 405,000 people live within a 5-mile radius and is expected to growth 5.6% over the next 5 years. •The Property offers superior ingress and egress to the major thoroughfares so residents can enjoy direct connectivity to the premier entertainment and necessity based retail offerings in San Antonio. •Santa Fe Place offers unmatched accessibility to the metro’s largest employment hubs including Downtown, South Texas Medical Center, USAA Headquarters, Valero Energy, and the San Antonio International Airport. oDowntown – 20,000 jobs (13 mins) oUTSA – 30,000 students (12 mins) oSan Antonio International Airport – 100,000 jobs (9 mins) oSouth Texas Medical Center – 56,000 jobs (9 mins) oUSAA – 18,000 jobs (10 mins) oValero Energy – 3,700 jobs (14 mins) •Located in the Northwest submarket of San Antonio, which has experienced incredible rental demand due to continued movement of the San Antonio population, the submarket has seen positive fundamental growth for years. •The demand for living options in the submarket continues as occupancy across the submarket is topping out the metro at 94.9%, and rent growth is an impressive 3.7% year over year. •With no new units delivered in the last 12 months and no new units planned for the next 48 months, occupancy and rent growth in the NW submarket are poised to see continued positive growth trends.