REO: Iconic at the Station | Stabilization Upside
- Modern cabinets, LVP flooring, granite countertops, and black/stainless steel appliances.
- Ability to increase rents on day one and at rollover of existing leases.
- Occupancy increased from 48% in March to 81.3% in September 2026, with additional revenue upside.
- Upside through exterior facade and select amenity enhancements.
- The property previously sold for $91,333/unit in November 2022, well above current pricing dynamics.
- Positioned along I-410, the property provides easy access to numerous large employers.
Property Description
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Auction |
| Property Types: | Affordable Housing |
| Price: | $800,000 |
| No. of Units: | 75 |
| Average Occupancy: | 81 |
| Year Built: | 1964 |
| Year Renovated: | 2018 |
| Opportunity Zone: | No |
| Price per unit: | $10,667 |
| Property Website | Click Here |
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout