Cap i ta l Marke ts | I nves tment P roper t i es
Lakeside VillasGarden-Style Multifamily Community with Proven Value-Add Potential and an
Infill Location Adjacent to Alamo Heights
8555 LAURENS LANE | SAN ANTONIO, TX 78218
THE OFFERINGCBRE’s Multi-Housing Investment Team is pleased to announce the exclusive
listing of Lakeside Villas, a multifamily community with significant value-add
potential located in Oakwell Farms, just south of Loop 410 and minutes to
Alamo Heights. Lakeside Villas is one of the most unique communities in the
San Antonio market. Elegant two and three story stucco buildings, featuring
standing seam metal roofs, shelter spacious floor plans with condominium
style features. Lakeside Villas is defined by the spectacular lakes and resort
style pools that are the focal point of the property. The lakes, a truly unique
amenity, are stocked with catch and release game fish. Amenities include a
resident clubhouse and fitness center that overlook the pools and lake, three
swimming pools, two hot tubs, controlled gated access, picnic areas with
barbecue grills, and available covered parking. Completed in 1985, there
are 293 one and two-bedroom units ranging from 574 to 1,211 square feet
featuring refrigerators with ice makers, ceiling fans, walk-in closets and
private patios/balconies. In addition, washer/dryer connections are included
in all but the smallest two floorplans, while fireplaces, vaulted ceilings and
built-in computer desk/bookshelves can be found in select units.
INVESTMENT HIGHLIGHTS Proven Value-Add Potential
There is an excellent opportunity for rent growth through a high-end
unit interior upgrade program, as well as updating several community
amenities including the fitness facility and swimming pools. Multiple
communities in the nearby area have already undergone unit interior
upgrades that have been very well received by renters desiring a higher
level of finish-out. Lakeside Villas recently completed 8 renovated
units that generate $100 rental rate premiums. These upgraded units,
completed after a fire in building 22, feature black appliances, grey
laminate counters, dark wood cabinets, and brushed nickel fixtures. No
other significant interior upgrades have been completed at the asset,
providing tremendous revenue growth potential.
Attractive Community Located Adjacent to Alamo Heights
Lakeside Villas located just inside Loop 410 within the approximate 400
acre Oakwell Farms development in Northeast San Antonio. The property
is within minutes of Alamo Heights, the premier high-end neighborhood
of San Antonio. Lakeside Villas consists of 293 one and two-bedroom
floor plans and offers lake-side views in a lush wooded setting. Fort Sam
Houston and Brooke Army Medical Center are within an easy ten minute
drive. The bases have experienced tremendous employment growth in
recent years, and military renters are a significant rental driver at the
property. With its proximity to major employers and retail along the
Loop 410 corridor and in Alamo Heights, Lakeside Villas offers investors
continued rent growth potential and long term value-add appreciation.
Convenient Access to Major Employers
Lakeside Villas is strategically-positioned within minutes of many
flourishing employment centers in Northeast San Antonio. The former
Windsor Park Mall was converted to the world headquarters for
Rackspace. This facility currently totals over 2,400 employees. Fort Sam
Houston, employing approximately 32,000, recently underwent a $2.5
billion dollar expansion to be the new home of the Armed Forces medical
training headquarters. Additionally, the community is located just four
miles east of the San Antonio International Airport on Loop 410 and less
than a mile from Northeast Baptist Hospital.
Nearby Retail and Neighborhood Amenities
Residents have excellent access to Loop 410 and are within walking
distance of Garner Middle School. The property is located within a short
drive to three of San Antonio’s premier retail destinations: Northstar Mall,
The Quarry, and The Forum at Olympia Parkway. North Star Mall, located
west of the property at Loop 410 and San Pedro, is anchored by Saks Fifth
Avenue, Macy’s, Dillards and JC Penney. The Quarry, a nearly 700,000
square foot retail development located on Highway 281 just south of Loop
410, is host to a full roster of national retailers. The Forum at Olympia
Parkway, a 1.3 million square-foot open-air retail development located a
short drive from the property, covers 170 acres with over 120 stores. Just
two miles south of Lakeside Villas on Austin Highway is the HEB anchored
Sunset Square shopping center.
Financing
Lakeside Villas is being offered on an “All Cash” basis to allow for
unrestricted financing options.
EXECUTIVE SUMMARY
INVESTMENT SUMMARY
Property Lakeside Villas
8555 Laurens Lane, San Antonio, TX 78218
Year Built /Renovated 1985
Total units 293
Net Rentable Area 269,768 SF
Average Unit Size 921 SF
Price To Be Determined by Market
Offering Terms All Cash
COMMUNITY AMENITIES
nn Resident clubhouse
nn 24-Hour fitness center
nn Three swimming pools
nn Available covered parking
nn Picnic area with barbecue grills
nn Select apartment units with lake views
nn Serene wooded setting
nn Laundry facilities
nn Limited access gated community
nn Three fish-stocked ponds
UNIT AMENITIES
nn Choice of one or two-bedroom apartment homes
nn Refrigerator with ice maker
nn Microwave
nn Built-in computer desks*
nn Built-in bookshelves*
nn Large walk-in closets
nn Washer / dryer connections*
nn Ceiling fans
nn Fireplaces*
nn Vaulted ceilings*
nn Private patio / balcony
*Select Units
UNIT MIX
Bed Description Units SF Market RentMarket
Rent/Unit
Market
Rent/SF
1 Bed / 1.0 Bath 20 574 $13,600 $680 $1.18
1 Bed / 1.0 Bath 20 701 $15,800 $790 $1.13
1 Bed / 1.0 Bath 92 819 $76,912 $836 $1.02
1 Bed / 1.0 Bath 32 851 $27,232 $851 $1.00
1 Bed / 1.0 Bath 24 887 $21,528 $897 $1.01
1 Bed / 1.0 Bath 1 1000 $1,077 $1,077 $1.08
1 Bed / 1.0 Bath 16 1073 $16,768 $1,048 $0.98
2 Bed / 1.0 Bath 28 1104 $30,016 $1,072 $0.97
2 Bed / 1.0 Bath 20 1144 $21,860 $1,093 $0.96
2 Bed / 2.0 Bath 40 1211 $44,920 $1,123 $0.93
Totals/Averages 293 921 $269,713 $921 $1.00
CAPITAL MARKETS | INVESTMENT PROPERTIES
Charles CirarVice ChairmanT: 512.499.4916C: [email protected]
Ryan EpsteinExecutive Vice PresidentT: 713 787 1977C: 210 687 [email protected]
Michael WardlawSales AssociateT: 512.482.5515C: [email protected]
Colin CannataAnalystT: 512.499.4979C: [email protected]
© 2015 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
CBRE, Inc.100 Congress AvenueSuite 500Austin, TX 78701T: 512.499.4900
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AERIAL VIEW
SAN ANTONIOINTERNATIONAL AIRPORT
N
NORTH STAR MALL
QUARRY MARKETFound from websiteRecreate PMS
CHRISTUS SANTA ROSA HOSPITAL
QUARRY GOLF CLUB
NORTHWESTOFFICE TOWER
GARNER MIDDLE SCHOOL
LAKESIDEVILLAS
BROOKDALE OAKWELLASSISTED LIVING
REGENTS CARE MEDICAL CENTER (ASSISTED LIVING)
NORTHEAST BAPTIST HOSPITAL
ALAMO HEIGHTS
TOBIN PARK
OAKWELL FARMS
OAKWELL FARMS P
KY
LAURENS LANE
IRA LEE ROAD
HARRY WURZBACH RD