Building Details

Year built 1969

Listing Agency: Real Broker, LLC t***@joinreal.com Show Phone

Listed By: Analisa Gutierrez Show Phone

Added: Aug 28 Last Checked: Aug 28 at 3:06PM

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MLS# 2012183

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 fourplex contains approximately 4,956 SF on a 0.28-acre lot, with a unit mix of two- and three-bedroom residences. The property was built in 1969 and includes central air, covered parking, shared laundry facilities, mature trees, and updated interiors.

The property is located in Terrell Hills within ZIP code 78209, near Fort Sam Houston, Alamo Heights, The Pearl, downtown San Antonio, major highways, shopping, dining, and entertainment. Its residential configuration and range of unit sizes provide a clear multifamily format in a central San Antonio-area setting.

Key Highlights

• Fourplex with approximately 4,956 SF on a 0.28‑acre lot
• Two- and three‑bedroom unit mix
• Built in 1969 with updated interiors

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

$52,200

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

6.30%

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%

$1,044,000 $1.0M

Cap Rate 7%

$745,714 $745.7K

Cap Rate 9%

$580,000 $580.0K

Market Conditions

NOI Build-Up for 4,956 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

$80.3K $16.20/SF

− Vacancy

−$5.7K −$1.15/SF

EGI

$74.6K $15.05/SF

− OpEx

−$22.4K −$4.51/SF

NOI

$52.2K $10.53/SF

Area

Bexar County, TX

Vacancy

7.12%

Lease Rate

$16.20 /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%

$1,044,000

Cap Rate 7%

$745,714

Cap Rate 9%

$580,000

Alternative Uses

Best Use

Multifamily LT 5

$745.7K

$652.5K – $870.0K (±1% cap)

NOI $52,200 @ 7.0% cap · market cap 6.30%

Second Best

Apartment 5plus

$648.4K

$567.3K – $756.4K (±1% cap)

NOI $45,385 @ 7.0% cap · market cap 5.47%

Theoretical Best

Office A

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,896 @ 7.0% cap · market cap 11.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Electrical Service Auto Parts Store Garden Center (Bike/Boat/Book/etc) Store Furniture & Home Goods Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

137

Businesses Nearby

Explore this area Business Placement

Demographics for 78209, TX

42,456

Population

22,771

Households

1.9

Avg Household Size

40

Median Age

62%

College-Educated

96%

High-School Grad

10.2 sq mi

ZIP Area

4,162

Density / Sq Mi

$84,180

Median Household Income

$57,921

Median Earnings

$1,371

Median Rent

$497,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four residential units offer a two- and three-bedroom mix, central air, shared laundry, and covered parking.

Where is this quadplex located?

The property is located at 1157 Garraty Rd Terrell Hills, TX.

What is the asking price?

The asking price for this property is $829,000.

What are key features of this property?

This property features: Fourplex with approximately 4,956 SF on a 0.28‑acre lot; Two- and three‑bedroom unit mix; Built in 1969 with updated interiors