| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 45th | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1818 S Harrison St, San Angelo, TX, 76904, US |
| Region / Metro | San Angelo |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | 2024-09-19 |
| Transaction Price | $1,945,125 |
| Buyer | CNB RENTALS LLC |
| Seller | GTA ENTERPRISES LLC |
1818 S Harrison St, San Angelo Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and broad amenity access, according to WDSuite’s CRE market data. Occupancy has been generally steady at the neighborhood level, offering investors a pragmatic baseline for underwriting.
The property sits in an Inner Suburb pocket of San Angelo that is competitive among San Angelo neighborhoods, ranking 3rd of 36 with an A neighborhood rating. Amenity access is a clear strength: grocery and park availability rank near the top of the metro, and restaurants and pharmacies are similarly dense relative to most areas, placing the neighborhood in higher national percentiles for daily-needs convenience. These factors typically aid leasing velocity and retention.
Neighborhood tenancy skews renter-occupied, with a renter concentration among the highest in the metro. For investors, that translates to a deeper multifamily tenant base and support for occupancy stability across cycles. Neighborhood contract rents track below national medians while showing multi‑year growth, which can help sustain absorption without overextending affordability.
Within a 3‑mile radius, demographic indicators show households edging higher even as average household size trends smaller, expanding the pool of renting households. Forward-looking projections point to population growth and more households over the next five years, reinforcing the local renter pipeline and supporting long-run occupancy.
Ownership costs in the neighborhood run higher relative to incomes by national comparison, which tends to reinforce reliance on rental housing and support pricing power for well-positioned assets. School ratings trail national norms, which may affect certain family-driven demand segments, but the areas everyday amenities and commute conveniences help broaden appeal to a wide renter profile.
Safety indicators for the neighborhood sit around the metro median among 36 San Angelo neighborhoods and below national safety benchmarks. Recent trend data shows year-over-year improvement in both violent and property offense measures, suggesting conditions are moving in a favorable direction. Investors should factor current positioning and the improving trajectory into risk assessment and leasing strategy rather than relying on block-level assumptions.
This 60‑unit asset benefits from a renter‑heavy neighborhood with strong daily-needs access, supporting tenant retention and occupancy stability. Neighborhood rents remain comparatively accessible while trending upward, and within a 3‑mile radius the outlook points to population growth and a larger household base, which should expand the renter pool over the medium term. Based on commercial real estate analysis from WDSuite, local fundamentals compare favorably within the metro and provide a practical backdrop for consistent operations.
Counterpoints include school quality that trails national averages and safety metrics that sit near the metro midpoint, though recent crime trends have improved. Overall, balanced demand drivers, established amenities, and reinforced renter reliance on multifamily housing create a straightforward holding thesis with measured upside through disciplined operations and selective improvements.
- Renter-occupied share among the highest in the metro supports a deep tenant base and leasing stability.
- Strong grocery, park, restaurant, and pharmacy access aids absorption and retention.
- Neighborhood rents below national medians with upward momentum support occupancy while allowing for measured pricing power.
- 3‑mile outlook indicates population growth and more households, expanding the future renter pool.
- Risks: school ratings below national norms and safety around metro median, mitigated by improving trend data and strong amenity access.