Sierra Ridge Apartments is a 230-unit apartment community conveniently located adjacent to Churchill High School in North San Antonio less than one mile south of the Wurzbach and Blanco intersection.
Built in 1981, the property is 94% occupied and well maintained for the vintage. The units have not been upgraded, providing a significant opportunity to capitalize on under-market rents by implementing a repositioning and renovation strategy including, increased curb appeal, re-branding, common area renovations, and unit interior upgrades. The property was not actively marketed for sale and owned and managed under the same ownership for the last 10 years. This under-managed asset was acquired all cash with a private equity partner. Acquisition financing was provided by Walker & Dunlap. Sterling Management Company is now the property management company for this apartment complex.