| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 85th | Best |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1010 S Flores St, San Antonio, TX, 78204, US |
| Region / Metro | San Antonio |
| Year of Construction | 2012 |
| Units | 63 |
| Transaction Date | 2021-09-10 |
| Transaction Price | $8,087,500 |
| Buyer | SYLMAR FOOTHILL LLC |
| Seller | EXETER 21511 WY LLC |
1010 S Flores St San Antonio Multifamily Opportunity
Built in 2012, this asset is meaningfully newer than the area’s 1970s-era stock, supporting competitive positioning and reduced near-term capital needs, according to WDSuite’s CRE market data.
The property sits in a high-amenity pocket of San Antonio where dining and café density ranks competitively among 595 metro neighborhoods and sits above national averages. Restaurant options are extensive and cafés are plentiful, while parks are accessible; pharmacy access is more limited, which may modestly affect convenience for some residents.
Neighborhood fundamentals are mixed. The area carries an A+ neighborhood rating (ranked 5 out of 595 in the metro), placing it among the top tier locally. However, neighborhood occupancy is below metro norms, indicating leasing may require active management and targeted renewals to sustain stability. Median contract rents and household incomes in the neighborhood sit above national medians, and rent-to-income levels suggest manageable affordability pressures—favorable for retention and collections.
Vintage matters for competitiveness: the neighborhood’s average construction year is 1971, making a 2012 build relatively modern versus much of the local stock and supportive of renter appeal without immediate heavy-capex repositioning. Elevated home values in the neighborhood point to a high-cost ownership market, which can reinforce reliance on rental housing and support pricing power for well-amenitized multifamily communities.
Within a 3-mile radius, the renter-occupied share is a little over half, indicating a deep tenant base, while household counts have been rising and are projected to continue increasing alongside higher incomes. Even where population totals have been flat to slightly lower historically, smaller household sizes and growth in households expand the potential renter pool and can support occupancy stability over time, based on CRE market data from WDSuite.
Safety indicators compare less favorably to national benchmarks, with the neighborhood sitting below the national median on several measures. Within the San Antonio-New Braunfels metro (595 neighborhoods), the area trends below metro average on safety; however, recent data shows property offenses declining year over year, which is a constructive trend to monitor alongside leasing and onsite security practices.
Investors should underwrite to local conditions rather than block-level assumptions and consider trend direction: property crime has eased recently while violent offense trends have been more mixed. Framing these risks against achievable operations—access control, lighting, and community engagement—can help sustain tenant retention and protect cash flow.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, led by media, financial services, and energy headquarters and major offices listed below.
- IHeartMedia — media headquarters (5.6 miles) — HQ
- USAA — financial services (9.5 miles) — HQ
- USAA Ops Building — financial services operations (9.7 miles)
- USAA Federal Savings Bank — banking (9.9 miles)
- Valero Energy — energy (13.7 miles) — HQ
This 2012-vintage, mid-size asset benefits from a location with strong amenity access and proximity to major employers, offering depth of renter demand and relative competitive positioning versus older neighborhood stock. While neighborhood occupancy trends are softer than metro norms, elevated home values and solid incomes point to durable rental reliance and manageable rent-to-income dynamics that can support pricing and retention, according to CRE market data from WDSuite.
Within a 3-mile radius, households have increased and are forecast to grow further, with incomes trending upward—factors that expand the tenant base and support long-run leasing. Against this backdrop, newer construction reduces near-term capital exposure and may enable targeted value-add or operational improvements focused on leasing velocity and renewals.
- 2012 vintage offers competitive positioning versus older local stock and lowers immediate capex needs
- High local amenity access and proximity to major employers support demand and retention
- Household and income growth within 3 miles expands the renter pool and leasing runway
- Elevated ownership costs in the neighborhood reinforce multifamily relevance and pricing power
- Risk: Neighborhood occupancy trails metro averages; plan for proactive leasing and renewal management