Modern Four-Unit
For Sale
$970,000
317 Toledo, San Antonio, TX 78203
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,556 SF
Lot Size0.15 Acres
Price / SF$272.78
Days on Market129
Property Features for 317 Toledo
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-4
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
1200
Standard status
Active
Size
3,556 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
12153
Amenities
in-unit laundry
separate climate control
Building Details
Year built
2022
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
Listed By:
Guillermo Moya
(210) 482-3200
Added: May 3
Changed: Aug 19
Last Checked: Sep 8 at 11:06AM
MLS# 1943254
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 2022, this RM-4 quadplex contains four residential units within 3,556 square feet. Each residence offers two bedrooms and two and a half bathrooms, along with an open-concept layout, in-unit laundry, and separate climate control. Interior finishes include quartz kitchen countertops, stainless steel appliances, designer cabinetry, plank flooring, and large windows. The property occupies 0.146 acres at 317 Toledo in San Antonio’s Denver Heights area. Its setting provides proximity to dining, transit, and downtown San Antonio amenities. The four-unit configuration and consistent finish package create a straightforward multifamily layout with shared property characteristics across each residence.
Key Highlights
- Four‑unit quadplex built in 2022
- 3,556 square feet on 0.146 acres
- Each unit includes 2 bedrooms and 2.5 bathrooms
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
$40,930
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
4.22%
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%
$818,600
$818.6K
Cap Rate 7%
$584,714
$584.7K
Cap Rate 9%
$454,778
$454.8K
Market Conditions
NOI Build-Up for 3,556 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
$61.9K $17.40/SF
− Vacancy
−$3.4K −$0.96/SF
EGI
$58.5K $16.44/SF
− OpEx
−$17.5K −$4.93/SF
NOI
$40.9K $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%
$818,600
Cap Rate 7%
$584,714
Cap Rate 9%
$454,778
Alternative Uses
Best Use
Multifamily LT 5
$584.7K
$511.6K – $682.2K
NOI $40,930 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$518.9K
$454.1K – $605.4K
NOI $36,324 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$907.1K
$793.7K – $1.06M
NOI $63,495 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 78203, TX
5,872
Population
2,380
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
75%
High-School Grad
1.4 sq mi
ZIP Area
4,194
Density / Sq Mi
$34,815
Median Household Income
$28,146
Median Earnings
$989
Median Rent
$139,900
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?
Quadplex - Contemporary residential income property with open layouts, private laundry, and individually controlled climate systems.
Where is this quadplex located?
The property is located at 317 Toledo San Antonio, TX.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2022; 3,556 square feet on 0.146 acres; Each unit includes 2 bedrooms and 2.5 bathrooms
