8611 Waters Edge Dr. - San Antonio, TX 78245
PROPERTY OVERVIEW
Cable Ranch is a 248-unit affordable housing community located in San Antonio, TX. The property is conveniently located minutes from major retailers including H-E-B Plus, Walmart Supercenter, and Target. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built and placed in service in 2003 & 2004 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Cable Ranch offers one, two, and three bedroom apartment homes featuring central air conditioning, large closets, hardwood floors, ceiling fan, window coverings, patio/balcony, and a fully equipped kitchen with gas range/oven, garbage disposal, and dishwasher. Community amenities include a gated entrance, expansive clubhouse, business center, sparkling swimming pool, playground, on-site laundry facility, and on-site 24-hour maintenance.
Contacts and Office Locations
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 loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Photo GALLERY
IN COOPERATION WITH
250 W. Nottingham
Suite 120
San Antonio, TX 78209
San Antonio OFFICE
PROPERTY Stats
248
UNITS
2003
Built
232,040
sF
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
WA License #22019732
adam tomberg
Director
Lument
713.815.5620
aniekan.udoh@lument.com
TX License #674750
ANIEKAN UDOH
Managing Director
Lument
713.249.4509
cliff.mcdaniel@lument.com
TX License #355116
CLIFF MCDANIEL
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The LIHTC Restrictions expire at the end of 2033, allowing for significant upside through a conversion to market at that time
The property is operating at a significant rental discount to comparable market rate properties within a mile radius, providing insulation from potential market variance and strong support for low turnover at the asset
Located in an excellent submarket on the west side of San Antonio with the median household income above $65,000 within a five mile radius and in close proximaty to a number of employment drivers including the Lackland Air Force Base and SeaWorld San Antonio
The MSA has experienced fantastic income growth over the last several years, with the HUD Median Family Income increasing from $62,100 in 2016 to $88,500 in 2024, which has directly resulted in strong growth in the LIHTC rental limits
INVESTMENT HIGHLIGHTS
Managing Director
504.722.1999
chris.crump@berkadia.com
Chris Crump
Senior Managing Director
504.458.1626
tim.leonhard@berkadia.com
Tim Leonhard
MORTGAGE BANKING
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Managing Director
Multifamily
210.377.1535
mike.miller@berkadia.com
TX License #421122
Mike Miller
INVESTMENT ADVISORS