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Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Towne East Village, a 100-unit garden style value-add opportunity located in the thriving Northeast submarket of San Antonio. Built in 1983, Towne East Village extends across 5.64-acres and is comprised of 10 two-story apartment homes with multi-colored brick and hardi-plank siding, pitched composite roofs with vaulted second floor ceilings, and commercial utilities. Town Easte Village is located adjacent to Judson High School, the 4th largest school in Bexar County, with excellent visibility off FM78 and convenient accessibility to major thoroughfares such as 1604, Seguin and Schaefer Roads.
Towne East Village offers five floor plans tailored to market demand with an average unit size of 770 square feet. Future ownership has the opportunity to upgrade 100% of the interiors as well as enhance the exteriors. These upgrades will result in premiums in excess of $150 per unit, leading to robust rent growth. The property is also currently All Bills Paid, which offers investors the rare opportunity to implement a Reimbursement Utility Billing System. This would allow investors to conservatively recapture 75% of the utility expense.
Due to it’s ripening age, excellent location and a tremendous value add opportunities, Town East Village is poised for future rent growth, long-term stability and value appreciation in an economically dynamic market. Towne East Village is being offered all cash and is available for financing.
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Office:
San Antonio
250 W Nottingham drive Suite 120 San Antonio, TX 78209
Producers
Cody Courtney
Senior Director Cody.Courtney@berkadia.com 210.377.1219
Adam Sumrall
Director
512.960.2674 adam.sumrall@berkadia.com
Justin Chambers
Director
512.969.6838 justin.chambers@berkadia.com
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Immediate Access to Essential Employers
The San Antonio metro area is home to a diverse array of major employers, providing a strong employment base that supports residential demand in the region. The property's strategic location at 9060 Farm-To-Market Rd 78 in Converse, TX, offers convenient access to several key employment centers, enhancing its appeal to potential tenants.
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Exciting Economic Momentum in the Northeast Submarket
The Northeast submarket is rapidly emerging as a vibrant hub within the San Antonio metro area, showcasing remarkable growth and resilience. Known for its fast-growing suburban cities such as the nearby Universal City, the submarket has consistently demonstrated strong residential and multifamily demand.
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Extensive Value Add Enhancement Opportunities
Towne East Village presents investors with immediate upside potential across multiple avenues including interior renovations and exterior capital improvements. Through capital infusion including a systematic interior upgrade program and community amenity improvements new ownership will capture healthy rent premiums of more than $150 per unit.
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Cutt Abelson
Senior Managing Director
713.469.4503
Cutt.Abelson@berkadia.com
Mortgage Banking
Cutt Abelson
Senior Managing Director
713.469.4503
Cutt.Abelson@berkadia.com
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Cody Courtney
Senior Director cody.courtney@berkadia.com
210.377.1219
Will Caruth
Senior Director will.caruth@berkadia.com
210.377.2768
Minimal Development Landscape
The development pipeline within a three-mile radius of the property presents a unique opportunity for new ownership to capitalize on a selective growth environment. The upcoming pipeline of market rate multifamily properties surrounding Towne East Village is situated in a growing area with several significant projects in various stages of development.
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Cameron Hart
Senior Director
cameron.hart@berkadia.com
512-226-8708
High Barrier of Entry to Own Single Family Housing - Incentivizes Renting
San Antonio has been the beneficiary of incredible home appreciation in recent years, highlighting the strong demand to reside in the area. The median listed home price in Bexar County averaged $292,000 in 2024. Renters within the Northeast submarket on average pay $964 less in rent than the average monthly mortgage payment of $2,228.
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