12-Unit Apartment
For Sale
$1,380,000
Pending
127 W MAGNOLIA AVE, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size11,258 SF
Lot Size0.42 Acres
Days on Market143
Property Features for 127 W MAGNOLIA AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF33
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
0900
Standard status
Pending
Size
11,258 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Annual Amount
35690
Building Details
Year built
1927
Listing Agency:
GIC Properties
Listed By:
Robert Libby
(210) 821-1122
Added: Apr 18
Changed: Aug 21
Last Checked: Sep 7 at 10:06AM
MLS# 1958681
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 12-unit apartment building contains twelve apartments, each configured with 2 bedrooms and 1 bath. The property includes 11,258 square feet on a 0.418-acre corner lot and was constructed in 1927. Original design elements and craftsmanship remain part of the building’s character, while the existing layout provides a consistent residential configuration across the property.
Located in San Antonio’s Monte Vista Historic District, the property is positioned at 127 W Magnolia Ave. Long-term tenants and consistent occupancy are in place. The MF33 zoning designation, historic setting, and established apartment layout define the asset’s current profile. The property has been held by the same ownership for more than five decades, and residents should not be approached or engaged.
Located in San Antonio’s Monte Vista Historic District, the property is positioned at 127 W Magnolia Ave. Long-term tenants and consistent occupancy are in place. The MF33 zoning designation, historic setting, and established apartment layout define the asset’s current profile. The property has been held by the same ownership for more than five decades, and residents should not be approached or engaged.
Key Highlights
- 12 apartments, each with 2 bedrooms and 1 bath
- 11,258 square feet on 0.418 acres
- Built in 1927 with original design details intact
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
$114,998
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
8.33%
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%
$2,299,960
$2.3M
Cap Rate 7%
$1,642,829
$1.6M
Cap Rate 9%
$1,277,756
$1.3M
Market Conditions
NOI Build-Up for 11,258 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
$222.9K $19.80/SF
− Vacancy
−$13.8K −$1.23/SF
EGI
$209.1K $18.57/SF
− OpEx
−$94.1K −$8.36/SF
NOI
$115.0K $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%
$2,299,960
Cap Rate 7%
$1,642,829
Cap Rate 9%
$1,277,756
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $114,998 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $201,021 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
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 - Historic district multifamily asset with twelve two-bedroom apartments, established occupancy, and a corner-lot setting.
Where is this apartment building located?
The property is located at 127 W MAGNOLIA AVE San Antonio, TX.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: 12 apartments, each with 2 bedrooms and 1 bath; 11,258 square feet on 0.418 acres; Built in 1927 with original design details intact
