Four-Unit Quadplex with
For Sale
$405,000
Urbanizacion University Gardens, San Juan, PR 00901
Residential, San Juan, PRI
Property Size1,900 SF
Lot Size0.15 Acres
Price / SF$213.16
Days on Market30
Property Features for Urbanizacion University Gardens
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 4
Appliances
Electric Range, Microwave, Water Heater, Washer, Refrigerator
Standard status
Active
Size
1,900 SF
Lot size
0.15 Acres
Utilities
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Building Details
Year built
1960
Floors in Building
1
Listing Agency:
Team Realty
(787) 627-3143
Listed By:
Christian Ocasio
(787) 364-6991
Added: Aug 14
Changed: Sep 8
Last Checked: Sep 12 at 9:06AM
MLS# PRF24100
Copyright © 2026 Amplia 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 1,900-square-foot quadplex, built in 1960, contains four independent one-bedroom, one-bathroom units. Each apartment includes a living area, kitchen, and dining space. The property includes seven air-conditioning units, four parking spaces, one water meter, and one electric meter. Appliances include electric ranges, microwaves, water heaters, washers, and refrigerators.
Set on 0.148 acres in University Gardens, the property is in San Juan with connections to major roads. The surrounding area includes Centro Médico, universities, shopping centers, hospitals, supermarkets, and pharmacies. Three of the four units are currently rented.
Set on 0.148 acres in University Gardens, the property is in San Juan with connections to major roads. The surrounding area includes Centro Médico, universities, shopping centers, hospitals, supermarkets, and pharmacies. Three of the four units are currently rented.
Key Highlights
- Four independent one‑bedroom, one‑bathroom units
- 1,900 square feet on 0.148 acres
- Three of four units currently rented
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
$16,766
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
4.14%
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%
$335,320
$335.3K
Cap Rate 7%
$239,514
$239.5K
Cap Rate 9%
$186,289
$186.3K
Market Conditions
NOI Build-Up for 1,900 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
$25.1K $13.20/SF
− Vacancy
−$1.1K −$0.59/SF
EGI
$24.0K $12.61/SF
− OpEx
−$7.2K −$3.78/SF
NOI
$16.8K $8.82/SF
Area
ZIP 00901
Vacancy
4.50%
Lease Rate
$13.20 /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%
$335,320
Cap Rate 7%
$239,514
Cap Rate 9%
$186,289
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.4K
NOI $16,766 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$209.8K
$183.6K – $244.8K
NOI $14,687 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$470.6K
$411.8K – $549.0K
NOI $32,941 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Demographics for 00901, PR
6,218
Population
4,325
Households
1.4
Avg Household Size
47
Median Age
49%
College-Educated
88%
High-School Grad
1.0 sq mi
ZIP Area
6,218
Density / Sq Mi
$25,810
Median Household Income
$27,676
Median Earnings
$646
Median Rent
$386,900
Median Home Value
Market
Vacancy Rate% for Multifamily in the U.S.
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with independent apartments, on-site parking, and access to major San Juan roads and nearby services.
Where is this quadplex located?
The property is located at Urbanizacion University Gardens San Juan, PR.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Four independent one‑bedroom, one‑bathroom units; 1,900 square feet on 0.148 acres; Three of four units currently rented
