REO Sale: Iconic at the Station | Stabilization Upside

Highlights:

• Renovated Units: Modern cabinets, LVP flooring, granite countertops, and black/stainless steel appliances
• Currently Below Market In-Place Rents: Ability to increase rents on day one and at rollover of existing leases
• Strong Leasing Momentum Tailwinds: Occupancy increased from 48% in March to 81.3% in September 2026, with additional revenue upside
• Strategic Exterior & Amenity Upside: Upside through exterior facade and select amenity enhancements
• Sizable Basis Reset Opportunity: The property previously sold for $91,333/unit in November 2022, well above current pricing dynamics
• Minutes from Joint Base San Antonio: Positioned along I-410, the property provides easy access to numerous large employers

Description:

For more information visit:
https://rimarketplace.com/auction/3392/multifamily/san-antonio/tx?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=november4_2026&utm_content=multifamily_3392

Brokered by Colliers and powered by RealINSIGHT Marketplace, Iconic at the Station is a 75-unit garden-style community with strategic value-add upside located along I-410 in San Antonio, TX. With nearly all of the 75 units already renovated, Iconic at the Station offers a clear path to higher revenue through below-market in-place rents and targeted exterior and amenity enhancements. Unit interiors feature modern cabinets, LVP flooring, granite countertops, pendant lighting, and stainless-steel appliances.

New ownership will acquire a value-add opportunity with the ability to capitalize on no new supply scheduled within four miles over the next 36+ months, projected market rent growth exceeding 3% annually in 2029 and 2030, and more than 123,000 employees within a five-mile radius. The property offers easy access to Joint Base San Antonio, Brooke Army Medical Center, Northeast Baptist Hospital, San Antonio International Airport, and major Amazon and H-E-B distribution operations. With nearly all renovated interiors already in place, a focused exterior and amenity program positions new ownership to capture higher rents ahead of the anticipated market recovery and build value for a future exit.


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

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