The Los Angeles multifamily market ranked third for investment sales volumes last year, behind New York and Dallas.

More than 78,700 residents earning an average annual household income of $82,243 live within a three-mile radius of Gateway Plaza, which is 16 miles north of downtown San Antonio in a northeast suburb.

Strong economic growth of 109,000 jobs added for the year ending October 2018 has increased overall demand for rental housing, much of which has been satisfied by new supply of high-priced units.

"With a solid pipeline of active tenant requirements, we expect leasing totals to pick up later in the year,” says Nicole LaRusso, director of Research & Analysis for CBRE Tri-State.