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Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Acadia on the Lake, a 304-unit value-add opportunity located in the thriving Northeast submarket of San Antonio. Built in 1982, Acadia on the Lake is situated on 12-acres and comprised of 25 two-story buildings with brick siding, pitched shingle roofs and commercial utilities. With premier accessibility and visibility on Thousand Oaks Drive, over 20,000 vehicles drive by the asset daily.
The property offers ten unique floor plans with an average unit size of 821 square feet. Unit interiors feature lightly renovated finishes, intimate living areas, a mix of carpet and wood inspired flooring, washer and dryer connections, individual storage space, and a fully equipped kitchen with mixed appliance packages, vaulted ceilings and fireplaces. Additionally, the community features include a pristine swimming pool, community center and gym, two clothing care facilities, dog park, and offers covered parking options. The most unique amenity that sets Acadia on the Lake apart from the market is the approximately 18 acres of park land with lake adjacent to the property. Select units offer a cozy fireplace and lake views. With its favorable locational attributes and value-add potential, Acadia on the Lake offers an investor the opportunity for future rent growth, long-term stability and value appreciation. Acadia on the Lake is being offered All Cash, available for new financing.
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AUSTIN
2500 Bee Cave Road Building 3, Suite 550 Austin TX 78746
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Will Caruth
Senior Director Will.Caruth@berkadia.com 210.377.2768
Cody Courtney
Senior Director Cody.Courtney@berkadia.com 210.377.1219
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Significant Retail and Entertainment Nearby
Acadia on the Lake Apartments is conveniently located near a variety of shopping, dining, and entertainment venues, including Thousand Oaks Shopping Center, The Shops at Lincoln Heights, and Quarry Village. Within a 2.5-mile radius, residents have access to three H-E-B Grocery Stores, Walmart, Sam’s Club, Gold’s Gym, CVS, and Walgreens. Additionally, popular retail and dining destinations at North Star Mall and Park North retail centers are just ten minutes away.
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Immediate Access to Diverse Employers
Acadia on the lake is well-positioned near many dynamic employment centers in the area with convenient access to businesses off Wurzbach parkway, Loop 1604 and I-35. Major employers such as the Northeast ISD, Trinity University, Northeast Methodist Hospital, Joint Base San Antonio, the San Antonio International Airport, Amazon and IKEA including an overabundance of lifestyle facilities in the area all call the Northeast submarket of San Antonio home. The metros major employers include Joint Base San Antonio (80,000 employees), which is the largest employer in the city, accessible via I-35 and Loop 410. H-E-B (20,000 employees), a prominent grocery chain headquartered in San Antonio, can be reached via I-10 and US-281. The University of Texas at San Antonio (6,000 employees) is another key employer, with its main campus accessible via Loop 1604 and I-10. USAA (19,000 employees), a financial services company, is located near I-10 and Loop 1604. Lastly, Methodist Healthcare System (10,000 employees), a major healthcare provider, has facilities throughout the city, primarily accessible via I-10, I-35, and Loop 410. The San Antonio International Airport is less than ten minutes from the property and supports over 97,500 direct and indirect jobs. Currently, the airport is under a $1.5B expansion in preparation for a total $2.5B 20-year strategic development plan which was approved by the City Council in November 2021. In addition to the ever-expanding economic opportunities of San Antonio, the Northeast-Uptown Central submarket is one of the most dynamic and developing submarkets in South Texas, making Acadia on the Lake’s location attractive to potential residents and long-term investment
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Maximizing returns through tax exemption
Acadia on the Lake is partnered with a Housing Facility Corporation (HFC) yielding the dual benefit of high quality, mixed income housing for residents and enhanced yield to a prospective buyer. By qualifying for the HFC program, the Property received a tax exemption credit, securing a 100% tax abatement that significantly offsets the initial investment and increases annual returns. These incentives not only improve the financial viability of Acadia on the Lake but also contribute to the availability of housing in the area.
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Strong Submarket Fundamentals
In the market area, 36% of households earn between $50,000 and $99,000 per year, while 30.6% earn more than $100,000. Median household incomesare projected to increase by 12.8%, reaching $77,000 within the next five years. White-collar positions make up 66% of the market area employment. Additionally, 35% of occupied housing units are renters, higher than the 32% across the MSA. As of 2023, 61% of households within a five-mile radius consist of one to two persons, and 17% are three-person households.
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cutt abelson
Senior Managing Director cutt.abelson@berkadia.com 713 469 4503
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