Occupied 11-Unit Apartment
For Sale
$795,000
119 Bank, San Antonio, TX 78204
Multi-Family (2-8 Units), San Antonio, TX
Property Size5,510 SF
Lot Size0.22 Acres
Price / SF$144.28
Days on Market79
Property Features for 119 Bank
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Briscoe
Middle school
Harris
High school
Burbank
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1100
Standard status
Active
Size
5,510 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
17852
Building Details
Year built
1949
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(210) 482-3200
Listed By:
Arthur Sable
(210) 986-1165
Added: Jun 19
Changed: Sep 1
Last Checked: Sep 5 at 12:06AM
MLS# 1926651
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1949, this 5,510-square-foot apartment property spans multiple buildings on 0.221 acres. The layout includes 11 units with a mix of efficiencies, one-bedroom apartments, a three-bedroom/one-bath residence, and a two-story co-living house with seven rentable bedrooms. A central courtyard links the buildings and provides a shared organizing feature for the property.
The asset is fully occupied and positioned in San Antonio’s Lone Star/Southtown corridor near Downtown. Its location provides access to Southtown, employment centers, dining, entertainment, and major transportation corridors. The property carries an approximate 11.5 cap rate and offers diversified rental income across its varied residential components.
The asset is fully occupied and positioned in San Antonio’s Lone Star/Southtown corridor near Downtown. Its location provides access to Southtown, employment centers, dining, entertainment, and major transportation corridors. The property carries an approximate 11.5 cap rate and offers diversified rental income across its varied residential components.
Key Highlights
- 11‑unit apartment property is fully occupied
- 5,510 square feet on 0.221 acres
- Unit mix includes efficiencies, 1‑bedroom apartments, a 3‑bedroom/1‑bath residence, and 7 rentable bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,284
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,125,680
$1.1M
Cap Rate 7%
$804,057
$804.1K
Cap Rate 9%
$625,378
$625.4K
Market Conditions
NOI Build-Up for 5,510 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$109.1K $19.80/SF
− Vacancy
−$6.8K −$1.23/SF
EGI
$102.3K $18.57/SF
− OpEx
−$46.1K −$8.36/SF
NOI
$56.3K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,125,680
Cap Rate 7%
$804,057
Cap Rate 9%
$625,378
Alternative Uses
Best Use
Apartment 5plus
$804.1K
$703.6K – $938.1K
NOI $56,284 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,386 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Explore this area
Business Placement
Demographics for 78204, TX
11,298
Population
6,210
Households
1.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
4,184
Density / Sq Mi
$54,667
Median Household Income
$35,107
Median Earnings
$1,516
Median Rent
$142,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-building rental property with varied unit types, a shared courtyard, and established occupancy in San Antonio’s Lone Star/Southtown corridor.
Where is this apartment building located?
The property is located at 119 Bank San Antonio, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 11‑unit apartment property is fully occupied; 5,510 square feet on 0.221 acres; Unit mix includes efficiencies, 1‑bedroom apartments, a 3‑bedroom/1‑bath residence, and 7 rentable bedrooms
