Downtown investment property (sales, neighborhoods, buying)

[mikeybb]

Where are the best downtown neighborhoods for investing in income property? Are there inexpensive up-and-coming areas near the downtown?

[firstclassflyer]

Originally Posted by mikeybb

Where are the best downtown neighborhoods for investing in income property? Are there inexpensive up-and-coming areas near the downtown?

Commercial property?

[mikeybb]

Residential one, two, or three units.

[Retired-&-going-back-2-CA]

Originally Posted by mikeybb

Where are the best downtown neighborhoods for investing in income property? Are there inexpensive up-and-coming areas near the downtown?

You've got to be kidding right?

[Chaka]

I'd look into near-north downtown, or near east if you want inexpensive. Lavaca used to fit the bill (when we bought there ) but now it no longer fits 'inexpensive'.

[mikeybb]

Chaka - Yes, Lavaca was/may still be a nice play - it takes advantage of the expanding Riverwalk and King Williams adjacency. I would worry a bit about its proximity to the cement plant, recycling and other industry. What do you think about the area by the HEB? What parts or streets of the near-north and near east do you like? What about the Dignowity Park area? I moved here recently, and I find the area really confusing.

Moderator cut: personal remark Thanks for the thoughtful reply.

[Chaka]

Originally Posted by mikeybb

Chaka - Yes, Lavaca was/may still be a nice play - it takes advantage of the expanding Riverwalk and King Williams adjacency. I would worry a bit about its proximity to the cement plant, recycling and other industry. What do you think about the area by the HEB? What parts or streets of the near-north and near east do you like? What about the Dignowity Park area? I moved here recently, and I find the area really confusing.

Honestly, I can't give too many specifics about near north. When we were looking we looked in that area a lot (just north of I-35). Lots of nice places, slowly coming back. I don't know the names though, you just have to look around.

As for lavaca - what cement plant? Seriously, I have no idea what you're talking about. As for the recycling place - you mean the one on S. Probandt? It's quite far from Lavaca. Is there another? The closest industry is on the other side of I-37, so there's a break there, and well, I don't really even notice it.

Further down S. Presa, getting to the HEB is mixed. It's slower coming back, and far enough away from downtown to make walking less appealing (which is why we didn't buy there). I think it's promising, but slower to come back as well. As Lavaca rapidly improves though, that area will catch up.

We rented in Lavaca for 2 years before buying and we wouldn't live anywhere else. We love the community. We bought not for the investment, however, but for the community. The investment is just a bonus. Prices are rapidly rising though, even in this current market.

[ShaneSA]

Mahncke Park will benefit greatly from the river expansion. Lavaca is great but has caught on and the prices are skyrocketing. There may be some good bargains to be had. Dignowity and Government HIll are sleeping yet. They will pop, but it is hard to say when. Anything you buy in these areas should be for long term investment, good for income and later for profit on sales if updated and maintained.

[Chaka]

Originally Posted by ShaneSA

Mahncke Park will benefit greatly from the river expansion. Lavaca is great but has caught on and the prices are skyrocketing.

It's pricier than it was, but the asking prices are starting to come down and the actual selling prices are much lower than asking lately, with a lot of properties sitting vacant thanks to $%#&^ flippers. But I guess I shouldn't call them flippers anymore since they're not able to flip so easily afterall.

Lavaca isn't a steal though.