8-Unit Apartment
For Sale
$999,999
400 W Lynwood Ave, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size4,640 SF
Lot Size0.21 Acres
Price / SF$215.52
Days on Market57
Property Features for 400 W Lynwood Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-33 NCD-2
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
Active
Size
4,640 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
22931
Building Details
Year built
1934
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Michael Vasquez · License #719713
(214) 202-7615
Added: Jun 30
Changed: Aug 20
Last Checked: Aug 25 at 4:06AM
MLS# 1996134
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 8-unit apartment property contains 4,640 square feet on a 0.2118-acre parcel. Built in 1934, the property carries MF-33 NCD-2 zoning and is configured for multifamily use. It is available as an individual acquisition or together with an additional 16-unit multifamily portfolio.
The property is located at 400 W Lynwood Ave in San Antonio’s 78212 ZIP code, with nearby access to The Pearl, Downtown San Antonio, Trinity University, San Pedro Avenue, and the St. Mary’s corridor. Shopping, dining, entertainment, and public transportation are identified in the surrounding area.
The property is located at 400 W Lynwood Ave in San Antonio’s 78212 ZIP code, with nearby access to The Pearl, Downtown San Antonio, Trinity University, San Pedro Avenue, and the St. Mary’s corridor. Shopping, dining, entertainment, and public transportation are identified in the surrounding area.
Key Highlights
- 8‑unit apartment property
- 4,640 square feet on a 0.2118‑acre parcel
- MF‑33 NCD‑2 zoning
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
$47,397
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
4.74%
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%
$947,940
$947.9K
Cap Rate 7%
$677,100
$677.1K
Cap Rate 9%
$526,633
$526.6K
Market Conditions
NOI Build-Up for 4,640 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
$91.9K $19.80/SF
− Vacancy
−$5.7K −$1.23/SF
EGI
$86.2K $18.57/SF
− OpEx
−$38.8K −$8.36/SF
NOI
$47.4K $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%
$947,940
Cap Rate 7%
$677,100
Cap Rate 9%
$526,633
Alternative Uses
Best Use
Apartment 5plus
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,851 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,096
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 - Multifamily property near The Pearl, Downtown San Antonio, Trinity University, and the St. Mary’s corridor.
Where is this apartment building located?
The property is located at 400 W Lynwood Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 8‑unit apartment property; 4,640 square feet on a 0.2118‑acre parcel; MF‑33 NCD‑2 zoning
