Where to find Class C Multifamily properties in San Antonio?

Question

Hey BP,

I'm conducting a market analysis on San Antonio. Currently searching for Class C, multifamily properties between 150-220K range.

After reading up on the market, there are clear differences in the North, South, East and West areas of the city. pertaining to population demographics, employers, and construction/development.

If anyone has any recommendations on particular neighborhoods to that fit my description that would be helpful.

Thank you.

Stone Saathoff · Answer

You will have much better luck finding something like that through wholesalers. Hardly anything in that price range that is turn-key. My team just happened to sell a duplex in seguin that was already rented for 157K but this isn't something we get all the time and it's also about 45 mins out of San Antonio proper. For MLS deals you will likely have a very tough time.

Rick Pozos · Answer

@Chris Oligee you need to do some high dollar marketing to find such specific items. If you are looking for on market items, just call a realtor. If you are going offline, you have to get some marketing people like listsource or yellow letters or some other company who can find the owners and you reach out to them.

Just so you know, you will not find 4plexes for 150k unless they are just about to be torn down. I am getting ready to get a duplex under contract that needs a bunch of work for about 150k. That is pretty rare though. Prices have gone up quite a bit in the last few years.

Joseph Cacciapaglia · Answer

At the moment, there are only 9 multifamily properties listed for sale in that price range in the greater San Antonio area, and none that I would recommend for one of my clients. Most either need considerable work, or are in D areas. There are a few that came up and were put under contract recently, but nothing currently available. When you look at sites like Realtor.com and Zillow, you'll see a lot more, but it's because they're slow to mark them as under contract. If you're looking for places where they come up regularly, I would suggest keeping an eye on the Woodlake area. It's one of the only spots where we consistently see class C duplexes in that price range. However, they're starting to push past $220K recently.