San Antonio -- Question about Government Hill Neighborhood

[Jon Bon]

Hi all, I am new to the site and the world of real estate investing. I have been presented with a unique opportunity to buy a vacant lot from a family friend in what seems to be a highly-desirable location in San Antonio, Government Hill. 

My ideal situation would be to construct a home for my growing family to live in for 3-4 years and sell once we leave San Antonio (job that requires semi-often relocations). I'm posting to get some advice from experts in San Antonio that might have a wise word or two to offer. The location seems (on the surface) to be ideal due to all the activity of expanding the Pearl district towards Govt Hill. 

Anyways, I'm looking at $100k for the lot and would hope to build a small home for another $225. Any thoughts on whether this is more of a gamble than an investment would be much appreciated. 

Thank you in advance!

[Aaron Bihl]

Hey Jon,  

100k doesn't really seem like the friend price but depending on the lot and where in government hill it may be a good deal.  I would say there is quite a bit of variance in government hill and the values, it stretches pretty far and there is a substantial difference in the area on the east side of government hill and the west side near broadway/the pearl.  

Also, I would check the zoning on the lot before committing to it, especially if you are hoping to put a multifamily unit on the lot.   https://www.sanantonio.gov/DSD/Resources/Maps

Let me know if you need someone to run some comps for you or if I can help in any way.