| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 25th | Poor |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 W Broadview Dr, San Antonio, TX, 78228, US |
| Region / Metro | San Antonio |
| Year of Construction | 1976 |
| Units | 23 |
| Transaction Date | 2023-01-19 |
| Transaction Price | $15,928,992 |
| Buyer | PANORAMA APARTMENTS LLC |
| Seller | BROADVIEWE APARTMENTS LP |
215 W Broadview Dr San Antonio Value-Add Multifamily
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a stable tenant base, according to WDSuites CRE market data. Ownership costs run high relative to local incomes, which tends to reinforce rental demand rather than ownership at the neighborhood level.
Located in an inner-suburban pocket of San Antonio, 215 W Broadview Dr sits in a neighborhood rated C among 595 metro neighborhoods. Grocery access is comparatively convenient (above the national median), and restaurants are competitive among San Antonio neighborhoods, while cafes, parks, and pharmacies are limited within the immediate area. Average school ratings in the neighborhood trail national norms.
Rents in the neighborhood skew toward the lower half nationally, which can help retention but may temper pricing power. The neighborhoods occupancy rate trends below the metro median, yet the share of renter-occupied housing units is high, indicating depth in the renter pool for multifamily. Median home values are moderate in absolute terms, but relative to local incomes the ownership market is high-cost; this typically sustains reliance on rental housing and supports leasing stability.
Construction in the immediate area averages early 1980s; this 1976 asset is somewhat older, implying potential value-add through interior upgrades and systems modernization. For investors, that vintage positioning can create a path to differentiate versus older stock while budgeting for near- and medium-term capital items.
Within a 3-mile radius, households have grown despite modest population contraction, and projections indicate further growth in household counts alongside smaller average household sizes. That shift generally expands demand for smaller rental units and can support occupancy durability for compact floor plans.
Safety outcomes in the neighborhood are below national averages, with overall crime levels ranking weaker relative to San Antonio peers (ranked 258 out of 595 metro neighborhoods). Nationally, safety percentile readings are low, indicating higher-than-average incident rates compared with neighborhoods nationwide. Recent trend data shows year-over-year declines in both property and violent offense estimates, suggesting some improvement momentum, but investors should underwrite with conservative assumptions and ensure appropriate security practices.
The location is proximate to a solid employment base anchored by USAAs campus, iHeartMedia, and Valero Energy, supporting renter demand through steady white-collar and operations roles. These nearby employers help shorten commutes for residents and can aid retention in workforce and mid-market units.
- USAA corporate offices (4.5 miles) HQ
- Usaa Ops Building operations (4.7 miles)
- USAA Federal Savings Bank financial services (4.9 miles)
- Iheartmedia media headquarters (6.2 miles) HQ
- Valero Energy energy corporate offices (8.4 miles) HQ
This 23-unit, 1976-vintage property offers a value-add angle in an inner-suburban San Antonio neighborhood with a high concentration of renter-occupied housing units. Neighborhood rents trend in the lower national ranges, which can support retention, while ownership costs relative to incomes are elevated, reinforcing sustained reliance on multifamily. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, so underwriting should lean on operational improvements and targeted renovations to capture demand from the sizable renter pool.
The assets small average unit size aligns with 3-mile trends showing growth in household counts and smaller projected household sizes, a pattern that typically expands the tenant base for compact apartments and supports occupancy stability. Proximity to major employers such as USAA, iHeartMedia, and Valero adds commute convenience that can aid leasing and renewals, while investors should account for below-average neighborhood safety metrics and measured amenity depth in capital plans and operations.
- High renter-occupied share in neighborhood supports tenant depth and leasing durability
- 1976 vintage provides value-add potential via interior updates and systems modernization
- Household growth and smaller sizes within 3 miles favor demand for compact units
- Nearby anchors (USAA, iHeartMedia, Valero) provide commute convenience that can aid retention
- Risks: below-metro occupancy and weaker safety metrics warrant conservative underwriting and active management