Alta Vista, Beacon Hill, Tobin Hill (San Antonio, Alamo: wood floors, real estate, apartments)

[montevista1]

These areas are questionable for now, but what do you think will be the next solid area like monte vista.

I have been trying to buy rental property in monte vista, but prices that people are asking are a bit over my budget.

[Cookiemeister]

Monticello Park

[montevista1]

why monticello park?

[Chakapu]

They will never become Monte Vista because the houses aren't of the same level. Monte Vista tends to have grander homes. Also, these areas are closer to the RR tracks, which will always be a disadvantage unless the tracks get moved. However, they will no doubt approach that level, as the area continues to be revitalized.

This is not meant to be disparaging - I live in Lavaca and LOVE it, but it'll never be King William simply because the houses were never built to that scale to begin with. Lavaca was founded by tradesmen rather than Captains of Industry, and the homes reflect it - smaller, simpler, in general smaller plots. Values are rising insanely, though, and the area is (or at least was) an excellent investment, as well as a great place to live. In many ways I prefer it to KW.

Though there are some real beauties in Alta Vista/Beacon Hill/Tobin Hill, overall the neighborhoods, at least as much as I've seen them (and we did search there when buying as well) don't have quite the grandiosity as Monte Vista. Still worthwhile, but keep that in mind.

[Montirob]

I’m glad Monticello Park was mentioned (I’m a bit partial to the area).

I don’t think there will ever be another “Monte Vista” but perhaps Monticello Park/ Woodlawn Heights will come the closest for one reason – it is still relatively intact. The beauty of Monte Vista is that it has a huge concentration of unaltered homes. Yes, some were screwed up, but the majority were still in good condition when the neighborhood started its comeback (personally, I don’t think it ever really went downhill). I like Alta Vista and looked to buy a home there once, but it has had more “modernization” done to it – additions, conversions to apartments, etc. Monticello Park (the historic district which includes Woodlawn Heights) is kind of like a miniature Monte Vista – there are some great unaltered large homes on W. Gramercy, W. Kings Highway, Summit, and Mary Louise, with some great smaller homes on the other streets (Furr, North, etc.), with the homes on these streets west of Vollum usually in the best condition. Now, they aren’t Monte Vista size or quality; and I would say it is kind of like comparing the Dominion to Stone Oak. But… the homes are all different, have good pedigree (Ayres, Ford, Adams, Nayfach, etc.), and are built well. Plaster walls and Redondo tile are also present in a lot of the homes (though not to the extent of course as in Monte Vista). The biggest downside to MP is that it is kind of isolated – you have to pass some not so great areas to get to it. As such, the commercial corridor adjacent to the neighborhood is lacking the same amenities that are convenient to Monte Vista… but we’re working on it.

Of course for “flipping,” the area is not as hot as it was just a year ago – too many people have caught on and want top dollar. There just aren’t as many deals (and unrestored properties) as there once was. Every once and a while, one will pop up, but people like Ed Garza snap them up (by the way, he did a nice job on his renovation). But this fact is what makes the neighborhood great – the majority of the homes are in good condition and have good homeowners.

The big opportunity at this time, is with the rental units. MP has some lovely 2-story duplexes on the 300 and 400 block of Club. Many need restoration, but have good “bones.” The 500 block of Furr has some fine examples of fully restored duplexes.

Again, I’m in no way saying MP is or could ever be another Monte Vista. I just think it shares some characteristics. Will the values ever be comparable to Monte Vista? No way. Will the values be greater than other neighborhoods with similar sized, but newer homes? Easily.

[Cookiemeister]

The homes in Monticello Park are built to last (good bones). There are alot of people that would like to live in an older home and neighborhood with old world charm but cannot afford a 350K plus morgage. Monticello is the best/only alternative. You get a solid home with old world charm from anywhere between 175K to 275K (cheaper if you keep your eyes open and can see the potential). It does not hurt that the neighborhood is chaulked full of history and is a designated historical district. Where else can you find a home/neighborhood of this caliber for less than 200K? You might have to drop 10K-15K into repairs and updates initially on some but in the end you get something worthwhile. They do not make homes like this anymore because no one could afford it if they did. These homes will be standing long after you are gone. Also location is excellent... central to everything and traffic is not a problem. Just a short drive down Hildebrand and you are in Monte Vista, Olmos Park, Alamo Hts, Terrell Hills... in 5 minutes you are downtown... in 15 minutes you are anywhere. The homes will steadily appreciate over time. Jefferson High School is beautiful and you have a very attractive lake (Woodlawn Lake) with excellent hiking trail within walking distance. I don't think you can find an older home in any area that is equivalent in price and quality. Just my unbiased opinion. If I had the money I would renovate homes in this area and make a decent profit. The homes that have been tweeked sell fast and I think you can easily make 30 to 50K profit. I am ignorant so that might not be alot of money to a real estate guy or contractor. Now would probably be a good time to start looking because there are some fixer uppers in the area that have good bones plus charm and would probably go for 150 and turn for 225K. The neighborhood is quite and the homeowners are a diverse and eclectic group. It is the practical and sensible thing to do if you are not a millionaire yet and can't afford a home in Monte Vista, Olmos Park, Alamo Hts or Terrell Hills. I looked at homes in the other areas that people prefer due to location but you don't get the house for the money. This neighborhood could easily go the direction of other more prominent neighborhoods in time but some are uncomfortable making the move in this direction. Their fears are unfounded. There is alot of money to be made for those with a vision. Fredericksburg/Hildebrand area could be better than Southtown due to location IMO.

[Chakapu]

What is the area defined by Monticello Park?

When we were house hunting in 2004, we looked in that general area, although maybe it was more Woodlawn Lake (West of Zarzamora) and found the houses to be overpriced for what they were (fixer uppers). Nice to be sure, but on the high side given the amount of repairs needs, at least compared to Lavaca at that time. In the end we bought in Lavaca, where we were already renting, although a few months later prices skyrocketed.

In 2005, friends bought in what I think is Monticello Park/Woodlawn area, not sure exactly, just east of Zarzamora. At that time the prices where better than in Lavaca which had already spiraled out of control, but that end was not nearly as nice as the west area, closer to Woodlawn Lake and Jefferson high. It's a great place and a great neighborhood, but not quite 'back' yet - they were also priced out of the area west of Zarzamora.

In 2006, other friends looked in that area and the only things they were finding in a reasonable price range were in flood-prone areas and had at some point in the recent past been flooded.

All that's to say it may vary substantially within an area, and I fully admit I'm not sure of the boundaries of Monticello Park or the other 'sub' areas there. I do love the Lake, and I think the Fred Rd corridor will be back soon.

[montevista1]

I agree Monte Vista was created for wealthy people. As a result the homes tend to have solid bones. At the same token their is a house next to my duplex that is literally falling apart.

More apartment buildings in Alta Vista, Beacon Hill, seem to be falling apart because they are old and were not built for the wealthy.

I love the older areas of San Antonio because housing stock is different.. no homebuilder could afford to build such nice houses with such variety. Also the proximity to everything is simply unbeatable.

My insurance company told me for me to build something similar to what I have in monte vista would cost double the purchase price.

[Cookiemeister]

Street names to keep in mind when looking in the Monticello Park historical neighborhood: North, Club, Mary Louise, Furr, Donaldson, Gramercy, W.Kings Hwy, Summit and Mulberry. You can find other nice homes sprinkled out around this main focus area. I found an interesting tidbit today... did you know that King William used to be referred to as "Sauerkraut Bend" because of the German settlers there and that the main street was originally named King Wilhelm in honor of King Wilhelm I (King of Prussian 1870) and was changed to Pershing during WWI with the Germans and later changed back to the original American version of King William. Google this site: hdindex (list all the historical sites in SA with a small historical summary)... interesting stuff. Looks like there are only 7 historical designated neighborhoods but I could be wrong. Monticello Park was where the wealthy lived and Jefferson High School was the creme de la creme in the 30,40,50's. Everybody wanted a new ranch style house in the burbs in the 50's and started moving north I guess. We actually gave up wood floors for shag carpet. This area has huge potential and could easily be successful in the hands of a wealthy and visionary entrepreneur... know any?

[tops]

The lower parts of Monticello park have their share of small, but well built homes in masonry styles you won't see around much of the rest of town, including Monte Vista. I remember Fulton Street specifically.