Condo-Style High-Rise Multifamily for Sale in San Antonio

The Enclave at 1550 at 1550 Jackson Keller Rd San Antonio, TX 78213

  • 154,413 Square Feet
  • Multifamily-Apartment
  • For Sale

Summary Description

Condo-style, high-rise Class A multifamily asset is for sale in San Antonio, Texas. The Enclave at 1550 is located at 1550 Jackson Keller Road, in highly desirable San Antonio. Property features 127 condo-designed units. The Enclave at 1550 is a unique differentiating high-rise product featuring extra-large floor plans (1,216 square feet average), with nine-foot ceilings and washer & dryer connections, unlike anything else in immediate area.

Visit our property website for investment details and to request the offering memorandum.

The south-facing floor plans provide beautiful panoramic views of the downtown San Antonio skyline. An additional 2.95 acres of land is part of the property and primed for development, located in front of the 22-story tower, zoned C-2, with unlimited building size, and a height limitation of 25 feet.

Asset offers a tremendous value-add opportunity—100 Classic units are positioned perfectly for interior upgrade, plus some additional exterior enhancements, as well as improving operations.

The Enclave at 1550 is surrounded by a skilled and educated workforce that complements the business environment of the city. The average household income is $71,071 within a five-mile radius of the property. San Antonio ranks #1 in U.S. cities’ population growth.

The residents are close to excellent employment. Top two major employers in San Antonio are within a five0mile radius of Enclave at 1550: San Antonio International Airport (100,000 direct and indirect jobs) and South Texas Medical Center (56,000 jobs). The community surrounded by high-end retail centers that have prestigious anchors, including North Star Mall anchored by Saks Fifth Ave, Macy’s and Dillard’s, along with over 200 specialty stores.

Building Size: 154,413 Square Feet

Area Available: 154,413 Square Feet

Number of Units

127

Number of Stories

22

Features:

  • Huge potential to increase rents through renovations
  • Tremendous value-add opportunity—100 Classic units are positioned perfectly for interior upgrade plus some additional exterior enhancements as well as improving operations
  • 27 of the 127 units have been upgraded: faux flooring, new cabinet fronts, cabinet hardware, refinished countertops, black appliance package, and carpet in living and bedroom areas
  • Units feature nine-foot ceilings, washer and dryer connections, with the ability to add the washers and dryers
  • Community is visible from Loop 410. As a 22-story high-rise, buyer has the opportunity to add modern, vertical neon-lighted signage to capture traffic traveling in both directions on the freeway
  • Upside in lowering operational expenses
  • New financing available at historically low interest rates or assume primary existing loan
  • Significantly below replacement cost—unpainted brick exterior with reinforced concrete frame floors and metal-framed interior walls, with two-level concrete parking garage
  • Year built: 1985. Construction paused until 1995-1996 and property received certificate of occupancy in 1996
  • San Antonio metropolitan area is the 25th largest in the U.S., with a local market of 2.3 million residents that is projected to grow by 28 percent over the coming decades.

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