| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 48th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3400 Northeast Pkwy, San Antonio, TX, 78218, US |
| Region / Metro | San Antonio |
| Year of Construction | 1982 |
| Units | 20 |
| Transaction Date | 2006-10-03 |
| Transaction Price | $1,897,700 |
| Buyer | SAAHC LANDING APARTMENTS LP |
| Seller | LANDING PARTNERS OF SAN ANTONIO LTD |
3400 Northeast Pkwy San Antonio Multifamily Investment
Positioned in an Inner Suburb with a high renter-occupied share and strong daily-needs access, this asset benefits from durable renter demand; according to WDSuite’s CRE market data, neighborhood occupancy runs below metro norms, calling for active leasing strategy.
The property sits in a San Antonio Inner Suburb neighborhood rated A (ranked 77 among 595 metro neighborhoods), indicating competitive fundamentals within the metro. Daily-needs access is a strength: grocery and pharmacy density rank near the top of the metro (e.g., grocery rank 11 of 595; pharmacy rank 19 of 595), and cafes and restaurants are also well represented, supporting resident convenience and tenant retention. Park access is limited (ranked 595 of 595), which may modestly temper lifestyle appeal for outdoor-oriented renters.
Neighborhood occupancy is 87.3% (neighborhood metric, not the property), placing it below many San Antonio submarkets, so investors should underwrite proactive leasing and renewal programs. At the same time, the renter-occupied share is elevated at 64.5% of housing units, which signals a sizable tenant base and tends to support absorption depth for workforce-oriented product. Median contract rents in the neighborhood sit around the middle of national comparisons, while a low rent-to-income ratio (nationally low percentile) suggests room for pricing within prudent affordability parameters.
Within a 3-mile radius, household counts have increased in recent years and are projected to expand further by 2028, with smaller average household size. These trends point to a larger tenant base and more renters entering the market, supporting occupancy stability for well-managed assets. Median school ratings in the area trend below national benchmarks, which may influence unit mix strategy and marketing toward adult and workforce segments.
Home values in the neighborhood are relatively accessible in absolute terms, yet the value-to-income ratio ranks high nationally, indicating a high-cost ownership market relative to local incomes. For multifamily investors, this dynamic can reinforce reliance on rental housing and support retention, particularly when paired with strong amenity access and commute convenience across the San Antonio-New Braunfels region.
Safety indicators for the neighborhood trail national benchmarks, and the area ranks below the metro median (312 out of 595 neighborhoods), indicating comparatively higher crime than many San Antonio neighborhoods. National percentiles for both violent and property offenses are low, placing the area in a less favorable safety cohort nationally.
Recent trend data shows improvement in property offenses over the last year (declining at a meaningful pace), which may help stabilize perceptions over time. Investors should incorporate enhanced on-site security, lighting, and community engagement into operations and reflect local trends when stress-testing leasing assumptions.
Nearby corporate offices provide steady employment nodes that support renter demand and retention, with convenient commutes to IheartMedia, Andeavor, USAA, CST Brands, and a major USAA operations facility.
- Iheartmedia — corporate offices (2.98 miles) — HQ
- Andeavor — corporate offices (8.84 miles) — HQ
- Usaa — corporate offices (9.14 miles) — HQ
- Cst Brands — corporate offices (9.25 miles) — HQ
- Usaa Ops Building — corporate offices (9.28 miles)
This 20-unit, 1982-vintage asset aligns with workforce demand drivers in an amenity-rich Inner Suburb of San Antonio. A large renter-occupied share at the neighborhood level points to a deep tenant base, while a low rent-to-income profile suggests manageable affordability pressure that can support retention and measured rent growth. According to CRE market data from WDSuite, neighborhood occupancy is softer than metro leaders, so execution should emphasize leasing velocity, renewals, and focused unit turns.
The 1982 construction presents value‑add and capital planning angles: targeted interior updates, common-area improvements, and system upgrades can enhance competitive positioning versus older stock, especially given strong access to groceries, pharmacies, and dining. Within a 3-mile radius, household growth and smaller household sizes over the forecast horizon indicate a larger tenant pool, supporting long-term demand for well-managed multifamily housing.
- Deep neighborhood renter base supports leasing and absorption
- Amenity-rich location near major employment nodes aids retention
- 1982 vintage offers clear value-add and systems-upgrade pathways
- Softer neighborhood occupancy vs. metro requires active leasing management
- Ownership costs relative to income reinforce reliance on rental housing