| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Poor |
| Demographics | 5th | Poor |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 212 Koberlin St, San Angelo, TX, 76903, US |
| Region / Metro | San Angelo |
| Year of Construction | 1979 |
| Units | 56 |
| Transaction Date | 2007-09-25 |
| Transaction Price | $1,050,000 |
| Buyer | DURAN MIGUEL |
| Seller | KOBERLIN APARTMENTS LP |
212 Koberlin St San Angelo 56-Unit Value-Add Multifamily
Renter concentration in the surrounding neighborhood is comparatively high while homeownership remains accessible, suggesting a stable tenant base but measured pricing power, according to WDSuite’s CRE market data. With 1979 vintage, the asset offers potential to modernize units and common areas to compete effectively against older nearby stock.
The property sits in an Inner Suburb of San Angelo with convenient daily amenities. Neighborhood access to groceries, pharmacies, parks, and cafes is top quartile nationally, and the area ranks well within the metro (ranked near the top among 36 neighborhoods) for amenity density. This convenience supports day-to-day livability and can aid retention for workforce renters.
Neighborhood-level rents trend on the more accessible side compared with national benchmarks, which can support occupancy but may limit near-term rent growth outperformance. By contrast, the share of renter-occupied housing units is comparatively elevated for the metro (ranked 5th of 36), placing the neighborhood in the top quartile nationally for renter concentration — a positive indicator for multifamily demand depth.
Within a 3-mile radius, recent years show a modest decline in population alongside an increase in households and families, pointing to smaller average household sizes and a broader leasing pool. Forward-looking estimates indicate additional household growth and a rising renter share by 2028, which would expand the tenant base and support occupancy stability for well-positioned properties.
The asset’s 1979 construction is newer than the neighborhood’s average vintage, suggesting competitive positioning versus older housing stock while still warranting capital planning for aging systems and targeted renovations. Local school ratings are weaker relative to national peers; for investors, this often shifts demand toward value-focused renters and underscores the importance of amenity programming and management to support retention.
Neighborhood safety metrics trail national benchmarks, and the area ranks in the lower tier among the 36 San Angelo neighborhoods. That said, recent trend data shows year-over-year improvement in violent offenses and slight improvement in property offenses. For investors, this calls for pragmatic on-site measures (lighting, access control, community engagement) and underwriting that assumes a cautious leasing timeline and appropriate security operating expenses.
This 56-unit, 1979-vintage property aligns with workforce housing demand in an amenity-rich Inner Suburb. The neighborhood shows a comparatively high share of renter-occupied units and strong day-to-day convenience (groceries, pharmacies, parks, cafes), supporting tenant retention. According to commercial real estate analysis from WDSuite, neighborhood rents are relatively accessible versus national norms, positioning value-oriented renovations to capture demand without overextending affordability.
The vintage provides value-add potential through interior and systems upgrades to compete against older nearby stock. Directionally improving safety trends and projected expansion of the local renter pool (within a 3-mile radius) support a constructive long-term view, while investors should account for below-metro occupancy levels and measured pricing power in underwriting assumptions.
- Renter concentration is elevated locally, indicating depth for multifamily leasing.
- 1979 vintage offers value-add upside through targeted renovations and system upgrades.
- Strong amenity access (groceries, pharmacies, parks, cafes) supports retention and lease stability.
- Directional improvement in safety metrics warrants continued on-site management focus.
- Risks: below-metro neighborhood occupancy and limited near-term pricing power call for conservative underwriting.