REO Sale: Palatia Apartments | Value-Add Multifamily

Highlights:

• Exceptional Value-Add Upside: With 380 units available for lease-up, a new owner can capture immediate NOI growth.
• Significant Built-In Rent Growth Upside: Market rents run 18% above in-place leases, unlocking immediate income upside for a buyer.
• Diverse Unit Mix Across Eleven Floor Plans: Studios to two-bedroom, two-bath layouts averaging 640 SF appeal to a broad renter base.
• Resort Pool, Clubhouse & Gated Grounds: Waterfall pool, clubhouse, gated entry, and landscaped grounds pair with updated unit interiors.
• Unbeatable San Antonio Airport Location: Just 1.4 miles and a 3-minute drive to San Antonio International Airport via Loop 410.
• Major Employers Anchor Renter Demand: Oracle, SWBC, and South Texas Medical Center anchor durable renter demand near the airport.

Description:

For more information visit:
https://rimarketplace.com/auction/3466/multifamily/san-antonio/tx?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=november4_2026&utm_content=multifamily_3466

Brokered by Northmarq and powered by RealINSIGHT Marketplace, 10362 Sahara Drive in San Antonio, Texas is a 546-unit garden-style apartment community spanning 49 buildings across 18.087 acres in North Central San Antonio. The property sits 1.4 miles from San Antonio International Airport and minutes from Loop 410 and US-281. Built in 1968, it offers eleven floor plans from studios to two-bedroom, two-bath units averaging 640 square feet, set within a gated community with a resort-style pool, rock waterfall, clubhouse, and landscaped grounds. The asset offers a large-scale value-add opportunity, with 380 units of lease-up upside remaining. In-place rents of $647 per unit trail the $761 average market rent, an 18% loss-to-lease that points to substantial income upside. Zoned to North East ISD and surrounded by major employers including the airport, Oracle, SWBC, and South Texas Medical Center, the property draws on a deep, diversified renter base in one of the nation's fastest-growing major metros. San Antonio's continued growth fuels demand for workforce housing near the airport, giving this asset a rare combination of scale, location, and embedded upside.

Location
Located at 10362 Sahara Drive off Loop 410 and US-281 in San Antonio's North Central submarket, the property sits 1.4 miles (a 3-minute drive) from San Antonio International Airport. North Star Mall, the McNay Art Museum, and the San Antonio Riverwalk are all a short drive away, with three retail centers within 0.2 miles walking distance of the community.


Bidding Opens
Nov 03 1:00 AM
Bidding Closes
Nov 05 1:00 AM

Documents: