| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 6th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 403 N General McMullen Dr, San Antonio, TX, 78237, US |
| Region / Metro | San Antonio |
| Year of Construction | 2004 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
403 N General McMullen Dr San Antonio Apartment Investment
Neighborhood occupancy trends are steady and renter concentration is comparatively high, supporting durable leasing fundamentals, according to WDSuite’s CRE market data.
Located in San Antonio’s inner-suburban fabric, the property sits in a neighborhood with typical occupancy relative to the metro and a materially higher share of renter-occupied housing units than the national average. That mix points to a deeper tenant base and demand stability for multifamily, while still requiring competitive positioning on finishes and management to capture renewals.
Daily conveniences are accessible: grocery, pharmacy, and childcare density sit in the top quartile nationally, and restaurant options are likewise competitive (ranked favorably against peers). In contrast, park access and café density are limited, so onsite amenities and community programming can help offset fewer passive-recreation options nearby.
Schools in the neighborhood score below national norms, which investors should consider in underwriting for family-oriented demand and marketing strategy. Home values are comparatively low for the U.S., which can introduce some competition from ownership options; however, the area’s above-average renter-occupied share indicates continued reliance on rental housing and supports lease retention.
The asset’s 2004 construction is newer than the neighborhood’s average 1980s housing stock. That positioning can offer an edge versus older comparables, while still warranting targeted capital plans (e.g., systems, interiors, and common-area refresh) to sustain competitiveness over the hold period.
Within a 3-mile radius, households have grown despite modest population contraction, with forecasts calling for further household increases and smaller average household sizes. This shift typically expands the renter pool and supports occupancy stability for well-managed assets.
Safety indicators trail national benchmarks, and the neighborhood ranks below the metro median (324 out of 595 San Antonio–area neighborhoods). In national terms, the area does not fall into stronger safety percentiles.
Recent trends are mixed: estimated property offenses declined meaningfully year over year, while estimated violent offenses saw a slight uptick. For investors, this suggests ongoing focus on lighting, access control, and partnership with local safety initiatives to support resident satisfaction and retention.
Proximity to major employers provides a broad white-collar and service-sector employment base that can support renter demand and reduce commute friction for residents. Key nearby employers include iHeartMedia, USAA (and nearby operations), and Valero Energy.
- iHeartMedia — media headquarters (5.9 miles) — HQ
- USAA — financial services headquarters (6.8 miles) — HQ
- USAA Ops Building — financial services operations (7.0 miles)
- USAA Federal Savings Bank — banking operations (7.3 miles)
- Valero Energy — energy headquarters (10.9 miles) — HQ
This 72-unit asset built in 2004 competes against an older neighborhood stock, offering relative appeal for tenants while leaving room for value-add upgrades to interiors and common areas. Neighborhood occupancy is around the metro average, and the share of renter-occupied units is high for the U.S., which supports depth of demand and leasing durability. Within a 3-mile radius, households have been increasing and are projected to rise further alongside smaller household sizes—factors that typically expand the renter pool and favor multifamily absorption. According to CRE market data from WDSuite, ownership costs in the area are comparatively accessible, so disciplined pricing and amenity execution are important to maintain retention against entry-level ownership alternatives.
Forward-looking rent benchmarks in the 3-mile area point to continued rent growth, while the employment base anchored by regional headquarters supports a stable commuter tenant profile. Key risks include below-average safety indicators and fewer nearby parks, which place a premium on property-level security measures and onsite amenity programming.
- 2004 vintage versus 1980s-area stock provides competitive positioning with targeted value-add upside
- Renter-occupied concentration above national norms supports demand depth and occupancy stability
- Household growth and smaller household sizes within 3 miles expand the renter pool over time
- Proximity to major employers (USAA, iHeartMedia, Valero) underpins a reliable commuter tenant base
- Risks: below-national safety metrics and limited parks; mitigate via security, lighting, and onsite amenities