| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 62nd | Good |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16500 Henderson Pass, San Antonio, TX, 78232, US |
| Region / Metro | San Antonio |
| Year of Construction | 1983 |
| Units | 68 |
| Transaction Date | 1996-10-29 |
| Transaction Price | $124,000 |
| Buyer | OQUINN JONES WILLIAM |
| Seller | OQUINN DEBORA R |
16500 Henderson Pass, San Antonio Multifamily Opportunity
Neighborhood occupancy is exceptionally tight and renter demand is supported by solid incomes, according to WDSuite’s CRE market data, suggesting durable leasing fundamentals for an investor focused on stable cash flow.
This Inner Suburb location in San Antonio-New Braunfels posts an A-rated neighborhood profile with strong day-to-day convenience: grocery and restaurant density ranks competitive among 595 metro neighborhoods and sits in the low-to-mid 70s nationally, helping support renter retention through amenity access. Average school ratings are on the lower side locally (around the 2-out-of-5 range), which investors should factor into positioning and tenant mix strategy.
The neighborhood’s occupancy rate is at the top of the metro (ranked 1 of 595), indicating very limited available units in the immediate area. Note: this refers to the neighborhood, not the property. Median contract rents are above the metro median and in the low 60s nationally, with five-year rent growth momentum present, per WDSuite.
Tenure patterns point to a meaningful renter base: within a 3-mile radius, roughly four in ten housing units are renter-occupied, and WDSuite indicates the renter share is expected to edge higher alongside projected household growth. This expands the tenant pool and supports occupancy stability for multifamily assets.
Home values are elevated relative to local incomes (value-to-income sits above most San Antonio peers), which reinforces reliance on multifamily housing and can support pricing power where unit finishes and operations are competitive. For this asset’s 1983 vintage in a submarket where the average construction year trends newer (2004), investors may find practical value-add levers in interiors, curb appeal, and systems modernization to sharpen competitive positioning while planning for ongoing capital needs.
Safety indicators for the neighborhood track below national norms. Relative to other areas in the metro (387 out of 595), crime levels are below the metro average; nationally, the neighborhood falls in lower safety percentiles. Recent trends are mixed: estimated property offenses have declined year over year, while estimated violent offenses show a slight uptick, per WDSuite. Investors should underwrite prudent security measures and leasing practices and compare trends against nearby competitive sets rather than block-level assumptions.
Proximity to large employers in energy, media, and financial services underpins a diversified white-collar workforce and supports renter demand through commute convenience. Notable nearby anchors include Andeavor, CST Brands, iHeartMedia, USAA operations, and Valero Energy.
- Andeavor — energy (1.8 miles) — HQ
- Cst Brands — convenience retail & fuel (2.8 miles) — HQ
- Iheartmedia — media (7.1 miles) — HQ
- Usaa Ops Building — financial services operations (8.4 miles)
- Valero Energy — energy (9.5 miles) — HQ
Built in 1983 with 68 units, the property sits in a highly occupied Inner Suburb submarket where neighborhood vacancies are scarce and rents trend above the metro median. Based on CRE market data from WDSuite, the surrounding 3-mile area shows a growing household base even as average household size declines, indicating a larger tenant pool and sustained demand for professionally managed apartments. Elevated ownership costs locally further support renter reliance on multifamily housing, provided operations and finishes remain competitive.
Given the asset’s older vintage relative to nearby stock, a focused value-add plan—targeting interiors, common areas, and select building systems—can enhance rentability and retention while maintaining cost discipline. Underwriting should also account for below-average safety metrics and modest local school ratings by prioritizing security, tenant screening, and service quality to preserve cash flow durability.
- Tight neighborhood occupancy and growing 3-mile household counts support stable leasing
- Elevated ownership costs bolster renter demand and pricing power for competitive units
- 1983 vintage offers practical value-add pathways in interiors and systems
- Diverse nearby employers (energy, media, finance) reinforce tenant base depth
- Risks: below-national safety metrics and lower school ratings require active management