| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 20th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3518 Grant Ave, San Antonio, TX, 78201, US |
| Region / Metro | San Antonio |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | 2008-07-01 |
| Transaction Price | $739,000 |
| Buyer | Confidential |
| Seller | Nessor Properties, LLC |
3518 Grant Ave San Antonio Multifamily Investment
Neighborhood occupancy is holding in the mid-90s with balanced renter demand and everyday amenities nearby, according to WDSuite’s CRE market data, supporting a straightforward cash-flow and light value-add thesis.
Located in an inner-suburban pocket of San Antonio, the neighborhood posts a B- rating and sits above the national average for occupancy at 93.7% (Top quartile nationally would be higher), signaling steady leasing conditions relative to many U.S. areas. Within the metro’s 595 neighborhoods, this places occupancy above metro median and supports income stability for smaller assets.
Daily convenience is a differentiator: grocery and park access rank in the upper national percentiles, and restaurants are dense by regional standards, while cafes and pharmacies are thinner. School ratings trend lower, which can moderate family-driven demand but does not typically deter workforce renters seeking proximity to jobs and services.
Vintage matters for competitive positioning. With an average neighborhood construction year around 1966, the property’s 1984 build is newer than much of the local stock, which can reduce near-term obsolescence risk while still leaving room for targeted modernization to drive rents and retention.
Tenure data indicates a modest neighborhood renter concentration (about 36% of housing units renter-occupied), suggesting a smaller immediate renter pool locally. However, within a 3-mile radius, renter-occupied and owner-occupied shares are close to even, broadening the addressable tenant base and supporting demand depth for a 24-unit asset.
Demographics within a 3-mile radius show households increased over the last five years and are projected to rise further by 2028, even as population edges lower—pointing to smaller household sizes and a steady flow of renters entering the market. Neighborhood contract rents sit near the metro middle and have advanced over the past five years, with forecast rent growth in the surrounding area reinforcing the case for measured pricing power and stable occupancy management.
On the ownership side, home values in this neighborhood are comparatively accessible for the metro, which can create some competition with entry-level ownership. Even so, a rent-to-income ratio near 0.12 indicates relatively low affordability pressure for renters, supporting retention and pragmatic lease trade-outs when combined with serviceable amenities and proximity to major employers.
Safety trends are mixed. Compared with neighborhoods nationwide, the area sits below the national average on safety metrics (national percentile indicates less safe relative standing). Within the San Antonio–New Braunfels metro’s 595 neighborhoods, this places the area in the weaker half for crime. That said, recent data shows a meaningful year-over-year decline in property offenses, indicating improving momentum even if overall levels remain elevated.
Investors should underwrite with standard risk controls—lighting, access management, and resident screening—while noting the positive direction in property crime. Monitoring local police and community reports over time can help validate whether the improving trend continues.
The employment base nearby is anchored by media, financial services, and energy corporates, supporting workforce housing demand and commute convenience for renters. The following employers represent the closest concentration relevant to leasing stability and retention.
- Iheartmedia — media corporate offices (1.96 miles) — HQ
- Usaa — financial services corporate offices (5.29 miles) — HQ
- Usaa Ops Building — financial services operations (5.50 miles)
- USAA Federal Savings Bank — banking operations (5.75 miles)
- Valero Energy — energy corporate offices (9.43 miles) — HQ
3518 Grant Ave offers a straightforward workforce housing thesis supported by above-median neighborhood occupancy, everyday amenity access, and proximity to major employers. The 1984 vintage is newer than the neighborhood average, suggesting competitive positioning versus older stock, with room for targeted renovations to enhance renter appeal and drive measured rent lifts. According to CRE market data from WDSuite, rents and occupancy in the area have been resilient relative to national norms, reinforcing stable income potential for a 24-unit asset.
Within a 3-mile radius, households have grown and are projected to increase further by 2028 even as population trends soften—expanding the potential tenant base through smaller household sizes. Neighborhood home values remain comparatively accessible, which can introduce ownership competition, but rent-to-income levels suggest manageable affordability pressure that supports retention. Underwriting should account for mixed school ratings and below-average safety standings, balanced by improving property-crime momentum and strong employer anchors.
- Above-median neighborhood occupancy and steady renter demand support income stability
- 1984 vintage offers value-add modernization potential versus older local stock
- Strong nearby employers (finance, media, energy) bolster leasing and retention
- Household growth within 3 miles expands the tenant base despite softer population trends
- Risks: below-average safety and modest ownership competition; mitigate with operations and targeted upgrades