IDZ-Zoned Apartment
For Sale
$550,000
122 W Formosa, San Antonio, TX 78221
IDZ zoning applies to this established apartment property in South San Antonio.
Property Size2,424 SF
Lot Size0.61 Acres
Price / SF$226.90
Days on Market20
Property Features for 122 W Formosa
General Information
Standard status
Active
Size
2,424 SF
Lot size
0.61 Acres
Property subtype
Multi-Family
Zoning
IDZ
Occupancy
100%
Building Details
Year Built
1930
Listing Agency:
Mission Real Estate Group
Listed By:
Rick Pineda
(210) 833-8137
Source:
Texashomeguide
Added: Sep 28
Changed: Oct 7
Last Checked: Oct 7 at 3:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mission Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1930, this apartment property contains 2,424 square feet and occupies approximately 0.61 acres. Its IDZ zoning is a notable land-use designation for the property.
The site is at 122 W Formosa in South San Antonio, Texas.
The site is at 122 W Formosa in South San Antonio, Texas.
Key Highlights
- 2,424‑square‑foot apartment property
- Approximately 0.61 acres
- IDZ zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,761
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,220
$495.2K
Cap Rate 7%
$353,729
$353.7K
Cap Rate 9%
$275,122
$275.1K
Market Conditions
NOI Build-Up for 2,424 SF
Gross rent
$48.0K $19.80/SF
− Vacancy
−$3.0K −$1.23/SF
EGI
$45.0K $18.57/SF
− OpEx
−$20.3K −$8.36/SF
NOI
$24.8K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,220
Cap Rate 7%
$353,729
Cap Rate 9%
$275,122
Alternative Uses
Best Use
Apartment 5plus
$353.7K
$309.5K – $412.7K
NOI $24,761 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$618.3K
$541.0K – $721.4K
NOI $43,282 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 78221, TX
39,779
Population
14,939
Households
2.7
Avg Household Size
35
Median Age
12%
College-Educated
74%
High-School Grad
36.3 sq mi
ZIP Area
1,096
Density / Sq Mi
$63,114
Median Household Income
$33,439
Median Earnings
$1,147
Median Rent
$157,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - IDZ zoning applies to this established apartment property in South San Antonio.
Where is this apartment building located?
The property is located at 122 W Formosa San Antonio, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,424‑square‑foot apartment property; Approximately 0.61 acres; IDZ zoning
