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    8 Calle Tapia San Juan, PR 00911

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    Sponsored
    For Sale
    $3,249,000

    Multi-Family 5+ - SAN JUAN, PR

    Property size:
    7,435 SF
    Lot size:
    0.11 Acres
    Days on Market:
    12
    Last Refresh:
    Mar 21 at 5:06 pm

    Property Features for 8 Calle Tapia

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RT-3
    APN
    041-042-145-07
    Parking features
    Carport, Garage, Garage - Attached
    Pets allowed
    Yes
    Interior features
    Kitchen/Family Room Combo, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Window Treatments
    Exterior features
    Awning(s), Balcony, Lighting, Outdoor Shower, Private Mailbox, Sidewalk
    Appliances
    Barbeque or Grill, Cooktop, Dishwasher, Dryer, Freezer, Garbage Disposer, Microwave, Range, Washer
    Size
    7,435 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Expense value
    100
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Cooling system
    Ductless, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1970
    Number of units
    9
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Concrete
    Roof type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Jaime Domenech

    Ark Real Estate, LLC

    Listing agent Luis Gonzalez Diaz License #24958

    Listing date Mar 10, 2026

    MLS# PR9117458 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Remodeled Multifamily Property Near Beach

    Located on Calle Tapia in San Juan, this fully remodeled nine-unit multifamily property presents an investment opportunity. Situated steps from the beach in the Ocean Park and Condado corridor, the property features a mix of one three-bedroom residence, seven one-bedroom units, and one studio. The units are updated with contemporary and durable finishes. The property has been modernized and includes a full-power diesel generator, a water cistern, and five on-site parking spaces. Additional street parking is available. The property is located in a gated beachside community, providing access to Ocean Park’s walkable residential area, boutique cafés, and kitesurfing beach. Condado’s hotels, restaurants, designer shopping, and wellness centers are nearby. The property is a short distance from the renovated Parque Barbosa, which features running tracks, fitness areas, sports courts, shaded seating, and green spaces. The property qualifies for Puerto Rico’s Tourism Tax Credit Program, capital improvements, and other eligible operational and improvement expenses. The Homeowner's Association fee is $130 monthly, and the CRIM is $4,600 annually. The lot size is 0.11 acres, and the property size is 7435.26 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    San Juan
    County
    San Juan
    State
    Puerto Rico
    Longitude
    -66.052108
    Latitude
    18.453329

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    FAQs

    What type of property is this?
    Apartment building - Nine-unit multifamily property in San Juan, steps from the beach.
    Where is this apartment building located?
    The property is located at 8 Calle Tapia San Juan, PR.
    What is the asking price?
    The asking price for this property is $3,249,000.
    What are key features of this property?
    This property features: - Fully remodeled 9-unit multifamily property with a mix of unit types.; - Prime location in San Juan's Ocean Park/Condado corridor, steps from the beach and Condado's amenities.; - Qualifies for Puerto Rico’s Tourism Tax Credit Program.
    (787) 646-8326
    Request Owner's contact information
    8 Calle Tapia San Juan, PR 00911
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    San Juan, PR 00911
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8 Calle Tapia San Juan, PR 00911
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    We can help!
    Listing Contact
    Jaime Domenech
    Real Estate License ID: 19692
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