| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 55th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9850 Westover Hills Blvd, San Antonio, TX, 78251, US |
| Region / Metro | San Antonio |
| Year of Construction | 2001 |
| Units | 32 |
| Transaction Date | 2022-02-17 |
| Transaction Price | $5,772,200 |
| Buyer | PRB EQUITY 21B LLC |
| Seller | DHOF-OVERLOOK LTD |
9850 Westover Hills Blvd San Antonio Multifamily Investment
Neighborhood occupancy is above the metro median and has trended higher in recent years, supporting income stability according to WDSuite’s CRE market data. The asset’s scale suits professional management while tapping steady renter demand in San Antonio’s inner suburbs.
The property sits in an Inner Suburb neighborhood rated A and ranked in the top quartile among 595 San Antonio neighborhoods, indicating solid location fundamentals for multifamily. Occupancy in the neighborhood is strong and above most peers (ranked 69 of 595; national percentile 92), a positive signal for cash flow durability and lease retention.
Local amenity access is mixed: cafes and groceries score well compared with areas nationwide (both in the low-70s to low-80s national percentiles), while parks and childcare are limited. For investors, this suggests everyday convenience for residents but fewer recreational and family-oriented amenities within the immediate neighborhood, which may influence renter profiles and marketing strategy.
The housing stock in the neighborhood skews newer (average vintage 2012). With a 2001 construction year, this property is older than the surrounding inventory, implying potential value-add via interior updates and systems modernization to remain competitive against newer product, alongside prudent capital planning.
Tenure patterns point to a deep renter base: the neighborhood has a high share of renter-occupied housing units (ranked 30 of 595; national percentile 97). Within a 3-mile radius, households grew over the past five years and are projected to increase further even as average household size declines; this dynamic expands the number of households and can broaden the renter pool, supporting occupancy stability. Median contract rents and household incomes in the neighborhood sit above national medians (national percentiles roughly in the 70s and mid-50s, respectively), while a rent-to-income ratio around 0.20 indicates manageable affordability pressure relative to many U.S. submarkets—helpful for renewal retention and measured rent growth.
Ownership costs are elevated locally versus many U.S. neighborhoods (home values around the upper-third nationally and a value-to-income ratio in the low-70s percentile), which tends to sustain reliance on rental housing and can support pricing power for well-maintained assets. According to CRE market data from WDSuite, neighborhood NOI per unit trends near the national median, aligning with a thesis focused on stable operations with selective upgrades rather than outsized rent premiums.
Safety indicators are mixed and should be underwritten conservatively. The neighborhood’s crime rank sits around the metro midpoint (306 out of 595 San Antonio neighborhoods), and national positioning is below the median (around the 30th percentile), indicating safety is weaker than many U.S. neighborhoods.
Recent direction is modestly constructive: both violent and property offense estimates have moved lower year over year, suggesting some improvement. Investors should account for these trends while benchmarking against comparable Inner Suburb locations and considering property-level measures that support resident comfort and retention.
The area draws from a substantial Northwest San Antonio employment base that supports renter demand and commute convenience, notably across financial services and energy. Key nearby employers include USAA, Valero Energy, and iHeartMedia.
- USAA — financial services (8.3 miles) — HQ
- USAA Ops Building — financial services operations (8.4 miles)
- USAA Federal Savings Bank — banking (8.4 miles)
- Valero Energy — energy (9.8 miles) — HQ
- iHeartMedia — media (12.6 miles) — HQ
This 32-unit, 2001-vintage asset benefits from a neighborhood with above-median occupancy and a high renter concentration, underpinning demand depth and operational stability. Within a 3-mile radius, household counts have risen and are projected to climb further even as household sizes trend smaller—conditions that typically expand the renter pool and support steady leasing. The property is older than the neighborhood’s average vintage, creating a credible value-add path through unit renovations and targeted building system upgrades to compete with newer stock.
According to CRE market data from WDSuite, neighborhood rents and home values sit above national medians, and ownership costs are comparatively high for the area, which can reinforce reliance on multifamily rentals and measured pricing power. Key underwriting considerations include below-median school ratings, mixed safety positioning versus national norms, and limited parks/childcare amenities—factors that call for precise tenant targeting and asset management. Overall, the thesis favors durable occupancy with selective capex to enhance competitiveness and retention.
- Strong neighborhood occupancy and high renter-occupied share support leasing stability
- 2001 vintage offers value-add potential versus newer nearby inventory
- Household growth within 3 miles and smaller household sizes expand the renter base
- Elevated ownership costs locally can sustain multifamily demand and pricing power
- Risks: below-median school ratings, mixed safety metrics, and limited parks/childcare amenities