HILLCRESTE AT THOUSAND OAKS

Hillcreste at Thousand Oaks

1570 Thousand Oaks Drive, San Antonio, TX 78232

Hillcreste at Thousand Oaks is a charming 1985 garden style asset spanning 158 units over 9 buildings. The well maintained property sits on 4.89 acres with mature oak trees lining the asset and providing significant shade.

The property is located in North Central San Antonio on Thousand Oaks Drive, with over 15,000 vehicles driving by daily. Hillcreste has quick access to US-281, a major North/South arterial highway, providing residents an easy route to the San Antonio International Airport in 8 minutes and Downtown San Antonio in 15 minutes.

158 Unit Institutional-Quality Value-Add

Year Built: 1985

Number of Units: 158

Average Unit Size: 709

Planned Exterior Renovations

Add Dog Park

Rebrand/Signage

Landscape/Tree Trim

Refresh the pool

Refresh the grill

Add exterior lighting

Upgrade Clubhouse/Office

Upgrade Laundry Center

Add New Access System

Siding/Exterior Paint Refresh

Cedar Wraps

Add Package Locker

Refresh Fitness Center

Planned Interior Unit Renovations

Black/Stainless Appliances

Upgraded lighting/fixtures

USB Outlets

Granite Countertops

Cabinetry & Hardware

Paint

Washer/Dryers

Value-Add Strategy

Our strategy for this asset will involve implementing a Value-Add approach, which includes refurbishing the exterior, adding exterior amenities, and upgrading the units themselves. Over 50% of the units are in a classic condition - offering significant income potential from renovated units.

REEP expects to begin renovations soon after closing the Property. The units have received light upgrades leaving room to add additional amenities. REEP plans to further upgrade 75 units and add additional upgrades to the exterior.

Houston MSA

Prime central location within prestigious NEISD schools district and minutes from major employment areas such as San Antonio Airport, South Texas Medical Center, Stone Oak Medical Center, USAA, UTSA and Valero Headquarters