| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 75th | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 123 Roy Smith St, San Antonio, TX, 78215, US |
| Region / Metro | San Antonio |
| Year of Construction | 2013 |
| Units | 55 |
| Transaction Date | 2025-08-27 |
| Transaction Price | $55,394,500 |
| Buyer | 122 ROY SMITH PROPERTY LLC |
| Seller | RIVER NORTH APARTMENTS LTD |
123 Roy Smith St San Antonio Multifamily Investment
Newer 2013 construction in an amenity-rich inner suburb with a deep renter base suggests durable leasing demand, according to WDSuites commercial real estate analysis.
Positioned in San Antonios Inner Suburb and rated A+, the neighborhood ranks 7th among 595 metro neighborhoods, placing it in the top quartile locally. For investors, that signals strong fundamentals even as asset selection and execution remain critical.
Amenity access is a clear strength: the area ranks 3rd of 595 for restaurant density and sits in the 99th percentile nationally, with parks access also ranked 3rd metro-wide and in the 97th percentile nationally. This concentration of daily conveniences typically supports resident retention and leasing velocity for multifamily assets.
The housing stock nearby skews older (average vintage 1957), while the subjects 2013 delivery provides a competitive edge versus legacy properties. Newer construction can reduce near-term capital needs and help with positioning, though investors should still plan for system upkeep and targeted modernization to sustain performance over the hold.
Tenure patterns favor rentals: renter-occupied share is high (ranked 35th of 595; 96th percentile nationally), indicating depth in the tenant pool that can support absorption. That said, neighborhood occupancy is soft (ranked 566th of 595; around the 11th percentile nationally), so leasing strategy and differentiated amenities will matter to capture demand at the property level. Home values sit on the higher side for the area (nationally ~76th percentile; value-to-income ratio ~84th percentile), which tends to reinforce reliance on multifamily. At the same time, rent-to-income levels trend comparatively moderate (nationally ~14th percentile), which can aid retention and stabilize collections.
Within a 3-mile radius, recent years showed a modest population pullback alongside growth in household counts, suggesting smaller household sizes and a shifting renter mix. WDSuites CRE market data indicates forward projections for population and households to expand over the next five years, which points to a larger tenant base and supports occupancy stability for well-positioned assets.
Safety metrics should be weighed carefully. The neighborhoods crime rank is 360 among 595 San AntonioNew Braunfels metro neighborhoods, indicating below-metro-average safety. Nationally, the safety percentiles align with a relatively higher-crime profile compared with many U.S. neighborhoods.
Trends are mixed: estimated property offenses show a notable year-over-year decline, while violent offenses increased over the same period. For underwriting, this suggests monitoring recent trendlines, emphasizing on-site security measures, and aligning marketing toward amenity- and access-driven resident segments that value proximity to jobs and services.
Proximity to large corporate employers supports renter demand and commute convenience, with a base spanning media, financial services, and energy. The following nearby anchors can help sustain leasing and retention for workforce and professional tenants.
- Iheartmedia media (3.7 miles) HQ
- Usaa financial services (8.6 miles) HQ
- Usaa Ops Building financial operations (8.8 miles)
- USAA Federal Savings Bank banking (9.1 miles)
- Andeavor energy (12.3 miles) HQ
This 55-unit, 2013-vintage asset benefits from an amenity-rich Inner Suburb location where restaurants and parks rank among the strongest in the metro and in top national percentiles. The propertys newer construction positions it well against older neighborhood stock, supporting competitive leasing and moderating near-term capital needs while leaving room for targeted renovations to drive rent attainment and retention.
Demand fundamentals are underpinned by a high concentration of renter-occupied housing and by ownership costs that are elevated relative to local incomes, reinforcing reliance on multifamily. Within a 3-mile radius, WDSuites CRE market data points to household growth ahead, implying a larger renter pool and improved absorption potential. Risks include softer neighborhood occupancy and mixed safety trendlines, which call for active leasing management, security best practices, and focus on differentiation through amenities and unit finishes.
- 2013 vintage offers competitive positioning versus older stock and manageable near-term capex
- Amenity-rich location with top-tier restaurant and park access supports retention and leasing velocity
- Deep renter base and elevated ownership costs bolster multifamily demand and pricing discipline
- 3-mile household growth outlook expands the tenant pool, aiding occupancy stability
- Watchouts: below-metro-average safety and soft neighborhood occupancy require proactive leasing and risk management