Feedback on Eastside Neighborhood - Rental Investment

[Sandra C Rivas]

Hello,

I have been successful at investing in the Eastside area of San Antonio.  I read that some of the developments that were slated to be kicked off are now up in the air. Specifically, Essex Modern City which was a mixed-use development on the Eastside is now up for sale. I am an out-of-state investor & the east side is an area that is being gentrified. Previously, my criteria was always west of New Braunfels Ave.

To any realtors that know the EastSide area (west of HWY 10 toward downtown)  well enough to comment, what is your feedback on the area? It looks like flips and new construction are moving east of New Braunfels Ave, how attractive are these areas for rentals (Jefferson Heights, Harvard Place, etc)? I know the EastSide has a high crime rate so I'd hate to purchase a new property that I can't rent out. I haven't had an issue west of New Braunfels Ave. Are there any other planned developments in this area?

Thank you!

Sandra R

[Joseph Cacciapaglia]

There are a lot of new build and flips east of New Braunfels Ave at this point, but many of the neighborhoods still have a lot of dilapidated houses. I've bought and sold properties for myself and clients in that area, and believe there are still opportunities. It's definitely more hit or miss that further west.

However, I have a few multifamily land listings there that have been sitting for a little while that would have sold quickly earlier this year. It seems like developers may be slowing a bit. That part of San Antonio still seems to work better for STRs than traditional rentals at the moment though. Prices for the nice rehabs and new builds aren't supported by current rental rates, IMHO.