Renovated Triplex Near Downtown San
940 W Mulberry San Antonio, TX 78201
940 W Mulberry, San Antonio, TX, 78201
$565,000
For Sale
$565,000
MULTI_FAMILY - San Antonio, TX
Property Size2,977 SF
Lot Size0.18 Acres
Price / SF$189.79
Days on Market59
Property Features for 940 W Mulberry
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,977 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9610
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1930
Listing agency
JB Goodwin, REALTORS
(210) 581-9050
Listed by
Allison Mccarroll
(210) 581-9050
Added: May 24 Updated: May 27 at 3:13PM Checked: Jul 21 at 9:06AM
MLS# 1969656
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 fully renovated triplex presents a rare investment opportunity, blending historic charm with modern updates. The property features wood flooring throughout. The first-level unit includes two bedrooms, two bathrooms, a large living area, a modernized kitchen, and closet space. Upstairs, there are two one-bedroom, one-bathroom units, each with updated kitchens, comfortable living areas, stylish bathrooms, and private balconies. A detached shared laundry room is located off of the two-car garage. Situated in a prime location, the property offers easy access to I-10, I-35, and US-281. It is also in close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, local parks, and popular restaurants and bars. The lot size is 0.178 acres and the property size is 2977 square feet.
Key Highlights
- Turnkey, fully renovated triplex offering immediate rental income or owner‑occupancy potential.
- Prime location with easy access to major highways (I‑10, I‑35, US‑281) and close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, and popular restaurants/bars.
- Spacious first‑level unit with 2 bedrooms, 2 bathrooms, modernized kitchen, and generous closet space.
Local Financial Insights For Multifamily LT 5
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 | $51.8k | $17.40 |
| − Vacancy | −$2.8k | −$0.96 |
| EGI | $49.0k | $16.44 |
| − OpEx | −$14.7k | −$4.93 |
| NOI | $34.3k | $11.51 |
2,977 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$489.5K
$428.3K – $571.1K
NOI $34,266 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$434.4K
$380.1K – $506.8K
NOI $30,410 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$759.4K
$664.5K – $886.0K
NOI $53,157 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Turnkey triplex with modern updates, close to downtown.
Where is this triplex located?
The property is located at 940 W Mulberry San Antonio, TX.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Turnkey, fully renovated triplex offering immediate rental income or owner‑occupancy potential.; Prime location with easy access to major highways (I‑10, I‑35, US‑281) and close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, and popular restaurants/bars.; Spacious first‑level unit with 2 bedrooms, 2 bathrooms, modernized kitchen, and generous closet space.
