San Antonio Multifamily Development
For Sale
$115,000
1230 SALTILLO ST, San Antonio, TX 78207
Multi-Family (2-8 Units), San Antonio, TX
Property Size986 SF
Lot Size0.86 Acres
Price / SF$116.63
Days on Market154
Property Features for 1230 SALTILLO ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-33
Elementary school
Call District
Middle school
Call District
High school
Call District
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
0700
Standard status
Active
Size
986 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Annual Amount
3602
Building Details
Year built
1948
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Ricardo Gonzalez · License #663626
(210) 243-5801
Added: Apr 15
Changed: Sep 5
Last Checked: Sep 15 at 1:06PM
MLS# 1957164
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.
This property presents an opportunity to purchase 0.856 acres zoned for multiple families. Previously sold multifamily properties less than a mile away have sold for between $670,000 and $900,000 on smaller lot sizes. The existing structure has 986 square feet. An option for single-family investment involves adding square footage and an additional bath to create a 3-bedroom, 2-bath configuration with 1300 square feet.
Key Highlights
- Large 0.856‑acre lot zoned for Multiple Families.
- Investment opportunity with potential for high return.
- Comparable Multiple Family properties nearby sold for $670,000 - $900,000 on smaller lots.
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
$10,072
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
8.76%
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%
$201,440
$201.4K
Cap Rate 7%
$143,886
$143.9K
Cap Rate 9%
$111,911
$111.9K
Market Conditions
NOI Build-Up for 986 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
$19.5K $19.80/SF
− Vacancy
−$1.2K −$1.23/SF
EGI
$18.3K $18.57/SF
− OpEx
−$8.2K −$8.36/SF
NOI
$10.1K $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%
$201,440
Cap Rate 7%
$143,886
Cap Rate 9%
$111,911
Alternative Uses
Best Use
Apartment 5plus
$143.9K
$125.9K – $167.9K
NOI $10,072 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.5K
$220.1K – $293.4K
NOI $17,606 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Explore this area
Business Placement
Demographics for 78207, TX
51,705
Population
18,750
Households
2.8
Avg Household Size
34
Median Age
6%
College-Educated
62%
High-School Grad
7.3 sq mi
ZIP Area
7,083
Density / Sq Mi
$30,655
Median Household Income
$23,696
Median Earnings
$857
Median Rent
$93,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - 0.856-acre lot zoned for multifamily development in San Antonio.
Where is this single family property located?
The property is located at 1230 SALTILLO ST San Antonio, TX.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Large 0.856‑acre lot zoned for Multiple Families.; Investment opportunity with potential for high return.; Comparable Multiple Family properties nearby sold for $670,000 - $900,000 on smaller lots.
