Sunset Canyon

Apartment purchase and improvement in San Antonio, TX


  • Number of Units 466
  • Rating B
  • Structure Equity
  • Projected Holding Period 5 years
  • Projected Annual Dividend 10.1%
  • Projected Annual Total Return 16.8%

Investment Thesis

At the Sunset Canyon property, rent growth has averaged over 5% annually and occupancy has consistently outperformed the market and submarket. The business plan for the property is to renovate 75% of the units with new black appliances, refurbished cabinets, tubs and countertops, new hardware, light fixtures, flooring, plumbing fixtures and decorative kitchen backsplashes, as well as a new coat of paint. Amenity upgrades include a fitness center, pool and dog park improvements, covered parking, private dog yards, and efficiency upgrades that will save money on electricity and water utilities. Property exterior improvements include complete repaint, parking lot sealing and restripe, and significant landscape upgrades. The property is located on Thousand Oaks Drive near the busy intersection of Loop 1604 and Hwy 281. Hwy 281 is the primary north-south freeway through San Antonio and Loop 1604 serves as the city’s outer loop. The location provides residents of Sunset Canyon with excellent access to the CBD, the nearby airport and access to two interstate highways, I-35 and I-10. The property is conveniently located within a five-minute drive of many retail, entertainment, and dining destinations including 3 big box shopping centers.

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