| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2233 SE Military Dr, San Antonio, TX, 78223, US |
| Region / Metro | San Antonio |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2011-05-03 |
| Transaction Price | $2,000,000 |
| Buyer | PARK STREET INC |
| Seller | PRESA APARTMENTS I LP |
2233 SE Military Dr San Antonio Multifamily Investment
Positioned in an inner-suburb corridor with strong retail access and a high renter concentration at the neighborhood level, this asset targets steady workforce demand, according to WDSuites CRE market data. Neighborhood occupancy has trended upward, suggesting resilient leasing fundamentals relative to the broader San Antonio market.
Located in San Antonios Inner Suburb framework, the immediate neighborhood carries a B- rating and sits near the metro midpoint (ranked 322 out of 595 neighborhoods). For daily needs, grocery and pharmacy access are strong (both in the top decile nationally), and restaurants are plentiful, while parks and cafes are limited. This mix supports convenience-oriented living that can aid retention even if lifestyle amenities are not the primary draw.
Renter-occupied housing is a defining feature: the neighborhood ranks 38 out of 595 metro neighborhoods for renter concentration, signaling a deep tenant base for small and workforce-oriented units. Neighborhood occupancy is in the upper-80s and has increased over the past five years, indicating leasing stability compared with many peers. Median asking rents in the area track near national mid-range levels, reinforcing attainable positioning rather than top-of-market competition.
Within a 3-mile radius, recent population counts edged down slightly while the number of households increased, pointing to smaller household sizes and a broader renter pool. Forward-looking projections anticipate population and household growth, which should expand the tenant base and support occupancy and leasing velocity. Household incomes are projected to rise as well, which can sustain rent collections and modest pricing power for well-located, functional units.
Median home values in the neighborhood sit on the lower end nationally, which can create some competition with entry-level ownership. That said, a sizable renter base and convenience to daily-needs retail underpin demand for multifamily rentals. Rent-to-income levels suggest some affordability pressure in the area, so disciplined renewal strategies and value-focused finishes matter for retention.
Safety outcomes in the surrounding neighborhood trend below both metro and national averages. The areas overall crime standing places it in the lower tiers nationally, and its metro rank is in the weaker half (ranked 392 out of 595 neighborhoods). Investors should underwrite enhanced on-site security, lighting, and thoughtful tenant screening as part of standard operations to support resident experience and retention.
Recent data indicate some positive momentum: property-related incidents show a year-over-year decline, suggesting incremental improvement even if levels remain elevated versus national benchmarks. Framing safety comparativelyrather than at the block levelis prudent, and ongoing monitoring is advisable as part of asset management.
Proximity to regional employers supports a broad commuter tenant base, anchored by media and financial services headquarters as well as energy corporates. The following nearby employers help stabilize leasing through diverse industry demand:
- Iheartmedia media HQ (9.7 miles) HQ
- Usaa financial services (14.3 miles) HQ
- Usaa Ops Building financial services operations (14.5 miles)
- USAA Federal Savings Bank banking services (14.7 miles)
- Andeavor energy (18.2 miles) HQ
Built in 1986, this 24-unit asset offers an approachable value-add path: vintage positioning can benefit from targeted interior upgrades and systems planning, improving competitiveness against older local stock. Neighborhood renter concentration is among the highest in the metro, and occupancy has improved in recent years, supporting a stable tenant base. According to CRE market data from WDSuite, the areas rent levels remain attainable, aligning with workforce demand rather than premium competition.
From a demand standpoint, the 3-mile radius shows household growth with forecasts calling for further expansion, indicating a larger renter pool and support for lease-up and renewals. Investors should weigh below-average safety metrics and some competition from entry-level ownership against the submarkets commuter access, daily-needs retail concentration, and improving occupancy trend.
- Vintage 1986 construction provides value-add and modernization upside
- High neighborhood renter concentration deepens the tenant base
- Neighborhood occupancy trend improving, supporting leasing stability
- Daily-needs retail and strong grocery/pharmacy access aid retention
- Risks: below-average safety metrics and competition from entry-level ownership