2807 Observation San Antonio, TX 78227
MULTI_FAMILY - San Antonio, TX
- Added:
- Mar 28, 2026
- Days on Market:
- 109
- Last Refresh:
- Jul 14 at 10:06 am
Property Features for 2807 Observation
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 5,800 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7288
Building Details
- Year built
- 1973
Listing agent Scott Malouff License #658231 (210) 493-3030
Listing office Keller Williams Heritage 1717 N. Loop 1604 E, San Antonio, TX (210) 493-3030
Listing date Mar 28, 2026
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.
Key Highlights
- Fully renovated in 2024 with comprehensive upgrades including roof, HVAC, windows, flooring, bathrooms, kitchens, appliances, plumbing, and lighting.
- Cash flowing from day one with 7 of 8 units currently leased.
- Located in the heart of San Antonio's Lackland AFB corridor, a strong workforce housing submarket.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.8k | $19.80 |
| − Vacancy | −$7.1k | −$1.23 |
| EGI | $107.7k | $18.57 |
| − OpEx | −$48.5k | −$8.36 |
| NOI | $59.2k | $10.21 |
