Two-House Multifamily
For Sale
$209,900
1221 Center St, San Antonio, TX
Fully occupied residences have leases extending through July and August 2025, with recent repairs completed.
Property Size1,672 SF
Price / SF$125.54
Days on Market176
Property Features for 1221 Center St
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,926
Listing Agency:
Home Sweet San Antonio LLC
Listed By:
Hillary Romero
(210) 269-1127
Source:
Exprealty
Added: Apr 28
Changed: Oct 13
Last Checked: Oct 19 at 9:03AM
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 Home Sweet San Antonio LLC
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Investment Insights
Based on property information with market context.
This multifamily property includes two houses situated on one lot. The residences are fully occupied at market rents, with lease terms extending through July and August 2025. Recent repairs have been completed, and interior finishes include vinyl and laminate flooring.
Built in 1950, the property features composition and metal exterior materials, slab construction, and mature trees. The two-house configuration provides an established residential income setup within a single property.
Built in 1950, the property features composition and metal exterior materials, slab construction, and mature trees. The two-house configuration provides an established residential income setup within a single property.
Key Highlights
- Two houses located on one lot
- Fully occupied at market rents
- Leases extend through July and August 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,079
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,580
$341.6K
Cap Rate 7%
$243,986
$244.0K
Cap Rate 9%
$189,767
$189.8K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$33.1K $19.80/SF
− Vacancy
−$2.1K −$1.23/SF
EGI
$31.1K $18.57/SF
− OpEx
−$14.0K −$8.36/SF
NOI
$17.1K $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%
$341,580
Cap Rate 7%
$243,986
Cap Rate 9%
$189,767
Alternative Uses
Best Use
Apartment 5plus
$244.0K
$213.5K – $284.7K
NOI $17,079 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.5K
$373.2K – $497.6K
NOI $29,855 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied residences have leases extending through July and August 2025, with recent repairs completed.
Where is this multifamily property located?
The property is located at 1221 Center St San Antonio, TX.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two houses located on one lot; Fully occupied at market rents; Leases extend through July and August 2025
