REO: Palatia Apartments | Value-Add Multifamily
- With 380 units available for lease-up, a new owner can capture immediate NOI growth.
- Market rents run 18% above in-place leases, unlocking immediate income upside for a buyer.
- Studios to two-bedroom, two-bath layouts averaging 640 SF appeal to a broad renter base.
- Waterfall pool, clubhouse, gated entry, and landscaped grounds pair with updated unit interiors.
- Just 1.4 miles and a 3-minute drive to San Antonio International Airport via Loop 410.
- Oracle, SWBC, and South Texas Medical Center anchor durable renter demand near the airport.
Property Description
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Auction |
| Property Types: | Apartment Buildings |
| Price: | $2,500,000 |
| No. of Units: | 546 |
| Average Occupancy: | 30 |
| Year Built: | 1968 |
| Year Renovated: | 2025 |
| Building Size: | 349,120 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $4,579 |
| Parking Spaces: | 736 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
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