| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 58th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 350 W Avenue L, San Angelo, TX, 76903, US |
| Region / Metro | San Angelo |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2021-05-13 |
| Transaction Price | $1,500,000 |
| Buyer | DEPOT FLATS LLC |
| Seller | TRI SIDE CAPITAL LLC |
350 W Avenue L, San Angelo TX Multifamily Investment
2013 construction provides a competitive edge in a neighborhood dominated by older stock, supporting leasing appeal and maintenance efficiency according to WDSuite s CRE market data. Neighborhood renter concentration is elevated for San Angelo, indicating a stable tenant base, while occupancy trends should be monitored for execution risk.
The immediate neighborhood is rated A- and ranks 9th of 36 in the San Angelo metro, indicating it is competitive among San Angelo neighborhoods rather than purely top-tier. Local amenity access is a relative strength: restaurants are in the top quartile among 36 metro neighborhoods and parks also rank in the top quartile, while grocery access is competitive. Average school ratings are strong for the neighborhood (top-ranked locally), which can support family-oriented renter demand; note these figures describe neighborhood-level conditions, not the property.
Multifamily dynamics are mixed. Neighborhood occupancy is below national norms, so property-level leasing performance will depend on asset quality, unit mix, and operations. However, neighborhood renter concentration is high for the metro, which deepens the tenant pool and can support leasing stability when pricing is aligned with local incomes. Median contract rent in the neighborhood sits around the middle of local ranges, and five-year rent growth has been firm; these data points refer to the neighborhood, not the subject asset.
Within a 3-mile radius, demographics point to a modestly larger tenant base ahead: past five-year population trends were soft, but WDSuite s projections show population growth and an increase in households through 2028, implying more renters entering the market. The renter share within this radius is also projected to rise, reinforcing demand depth for well-positioned multifamily.
Ownership costs in the neighborhood are comparatively accessible by national standards, which may create some competition with entry-level ownership. For investors, this typically emphasizes the importance of amenity, finish quality, and professional management to drive retention and pricing power while keeping rent-to-income within prudent ranges.
Neighborhood safety benchmarks sit below national percentiles, indicating higher reported offense rates than many areas nationwide. That said, year-over-year trends show improvement, with both violent and property offense rates declining according to CRE market data from WDSuite. These figures reflect neighborhood-level patterns rather than block-specific or property-specific conditions.
Relative to the 36 San Angelo metro neighborhoods, the area falls around the lower half on crime measures. Investors typically account for this by emphasizing on-site visibility, lighting, and resident engagement, and by underwriting slightly more conservative lease-up or renewal assumptions until sustained improvement is evident.
Built in 2013, this 24-unit asset is newer than much of the surrounding inventory, positioning it well against neighborhood stock that skews older. That vintage can translate to lower near-term capital needs and stronger curb appeal, while still allowing selective value-add to modernize interiors or common areas as needed. Neighborhood renter concentration is high for the metro, and WDSuite s commercial real estate analysis indicates household counts in the 3-mile area are projected to grow, supporting demand and occupancy durability.
Key execution items include managing to local affordability (rent-to-income is moderate at the neighborhood level) and navigating metro-level occupancy that trails national benchmarks. With amenity access, school ratings that rank at the top locally, and a location that competes well within the San Angelo metro, the asset s relative positioning supports a steady, operations-focused hold thesis.
- 2013 vintage versus older neighborhood stock supports leasing appeal and limits near-term capex.
- High neighborhood renter concentration broadens the tenant base and supports renewal potential.
- 3-mile area projections point to population and household growth, reinforcing long-run demand.
- Amenities and top-ranked local schools strengthen location fundamentals for family renters.
- Risk: neighborhood occupancy trails national norms; underwrite prudent rent-to-income and lease-up assumptions.