San Antonio Multifamily Investment
For Sale
$480,000
403 Terrell Ave, San Antonio, TX 78214
MULTI_FAMILY - San Antonio, TX
Property Size2,599 SF
Lot Size0.37 Acres
Price / SF$184.69
Days on Market165
Property Features for 403 Terrell Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
Harlandale I.S.D
Middle school district
Harlandale I.S.D
High school district
Harlandale I.S.D
Subdivision
2100
Standard status
Active
Size
2,599 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Annual Amount
12365
Building Details
Year built
2003
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
(210) 493-3030
Listed By:
Scott Malouff · License #658231
(210) 493-3030
Added: Feb 15
Changed: Apr 15
Last Checked: Jul 30 at 9:06PM
MLS# 1914997
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 multifamily property, located in the South Side of San Antonio, presents an investment opportunity with cash-flow potential. The property is situated minutes from Downtown San Antonio, Mission Concepcion, and the Southtown Arts District. The property features two-bedroom, one-bedroom, and studio layouts. Several units have been updated with paint, flooring, and modern finishes. The property sits on a lot of 0.368 acres and includes on-site parking. It offers access to IH-35, Highway 90, and Loop 410, connecting residents to employers such as Toyota Manufacturing, Brooks City Base, and Lackland AFB. The property contains 2599 square feet and is located in Bexar County. It is located in a growth corridor of San Antonio.
Key Highlights
- Consistent cash‑flow potential from a 7‑door multifamily property.
- Prime location minutes from Downtown San Antonio, Mission Concepcion, and Southtown Arts District.
- Variety of unit layouts (two‑bedroom, one‑bedroom, and studio) to maximize occupancy.
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 | $51.5k | $19.80 |
| − Vacancy | −$3.2k | −$1.23 |
| EGI | $48.3k | $18.57 |
| − OpEx | −$21.7k | −$8.36 |
| NOI | $26.5k | $10.21 |
2,599 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,548 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.0K
$580.1K – $773.5K
NOI $46,407 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 78214, TX
22,664
Population
8,447
Households
2.7
Avg Household Size
37
Median Age
9%
College-Educated
69%
High-School Grad
8.3 sq mi
ZIP Area
2,731
Density / Sq Mi
$41,334
Median Household Income
$31,397
Median Earnings
$934
Median Rent
$121,600
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?
Multifamily property - Seven-unit multifamily property in San Antonio's growing South Side.
Where is this multifamily property located?
The property is located at 403 Terrell Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Consistent cash‑flow potential from a 7‑door multifamily property.; Prime location minutes from Downtown San Antonio, Mission Concepcion, and Southtown Arts District.; Variety of unit layouts (two‑bedroom, one‑bedroom, and studio) to maximize occupancy.
