Four-Unit Quadplex with Covered
For Sale
$575,000
215 Blanco, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,213 SF
Lot Size0.17 Acres
Price / SF$178.96
Days on Market155
Property Features for 215 Blanco
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-3NA
Elementary school
Beacon Hill
Middle school
Mark Twain
High school
Edison
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
Active
Size
3,213 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
8145
Utilities
Cooling system
Central Air
Amenities
covered parking
storage
central HVAC
Building Details
Year built
1920
Listing Agency:
Keller Williams City-View · Keller Williams Realty
(210) 696-9996
Listed By:
Danny Charbel · License #582344
(210) 887-7080
Added: Apr 15
Changed: Aug 19
Last Checked: Sep 16 at 5:06AM
MLS# 1888438
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 four-unit quadplex at 215 Blanco includes 3,213 square feet arranged with two residences on the ground level and two upstairs. Built in 1920, the property has central air conditioning, covered parking at the rear, and additional storage. The compact 0.17-acre site is zoned C-3NA.
The property is located in San Antonio, approximately 2 miles from the center of downtown and near San Pedro Springs Park. Its four-unit layout provides distinct living spaces across two floors, with parking and storage improvements supporting the existing configuration.
The property is located in San Antonio, approximately 2 miles from the center of downtown and near San Pedro Springs Park. Its four-unit layout provides distinct living spaces across two floors, with parking and storage improvements supporting the existing configuration.
Key Highlights
- Four‑unit quadplex with 3,213 square feet of building area
- Two units downstairs and two units upstairs
- 0.17‑acre lot zoned C‑3NA
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
$36,982
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
6.43%
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%
$739,640
$739.6K
Cap Rate 7%
$528,314
$528.3K
Cap Rate 9%
$410,911
$410.9K
Market Conditions
NOI Build-Up for 3,213 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
$55.9K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$52.8K $16.44/SF
− OpEx
−$15.8K −$4.93/SF
NOI
$37.0K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$739,640
Cap Rate 7%
$528,314
Cap Rate 9%
$410,911
Alternative Uses
Best Use
Multifamily LT 5
$528.3K
$462.3K – $616.4K
NOI $36,982 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$468.9K
$410.3K – $547.0K
NOI $32,820 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$819.6K
$717.1K – $956.2K
NOI $57,371 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,158
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story income property with central air, rear covered parking, and storage near downtown San Antonio.
Where is this quadplex located?
The property is located at 215 Blanco San Antonio, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,213 square feet of building area; Two units downstairs and two units upstairs; 0.17‑acre lot zoned C‑3NA
