Two-Residence Multifamily
New
For Sale
$394,500
127 Lorraine Ave, San Antonio, TX 78214
A detached studio casita and a separate two-bedroom home provide flexible living arrangements on one lot with no HOA.
Property Size1,875 SF
Price / SF$210.40
Days on Market7
Property Features for 127 Lorraine Ave
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x studio/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,476
Amenities
patio
in-ground sprinklers
shed
washer and dryer
security cameras
Wi-Fi access points
Building Details
Buildings
2
Listing Agency:
Keller Williams Heritage
(210) 493-3030
Listed By:
Erika Chapa
(210) 854-9326
Source:
Exprealty
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 23 at 2:05PM
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 Keller Williams Heritage
Investment Insights
Based on property information with market context.
Two renovated residences occupy one lot: a 1,254-square-foot main home with two bedrooms and two bathrooms, and a detached 624-square-foot studio casita with its own kitchen and bathroom. The main residence has an open layout, high ceilings, quartz countertops, stainless steel appliances, ceramic tile flooring, and a washer and dryer. Both homes have updated HVAC, electrical, plumbing, and windows; the main home's foundation repairs carry a 5-year warranty. A water softener serves both residences, and the main home's water heater has an active manufacturer warranty.
The property is steps from direct access to the San Antonio River. Exterior features include refreshed landscaping, front and rear in-ground sprinklers, a patio, a second driveway lane, and a storage shed with electrical outlets and two entrances. Hardwired security cameras and Wi-Fi access points are installed, with Ethernet, Spectrum coax, and AT&T Fiber routed to the laundry room.
The property is steps from direct access to the San Antonio River. Exterior features include refreshed landscaping, front and rear in-ground sprinklers, a patio, a second driveway lane, and a storage shed with electrical outlets and two entrances. Hardwired security cameras and Wi-Fi access points are installed, with Ethernet, Spectrum coax, and AT&T Fiber routed to the laundry room.
Key Highlights
- Two separate renovated residences on one lot; no HOA
- Main home measures 1,254 sq. ft. and has 2 bedrooms and 2 bathrooms
- Detached 624 sq. ft. studio casita includes a kitchen and bathroom
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
$19,153
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
4.86%
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%
$383,060
$383.1K
Cap Rate 7%
$273,614
$273.6K
Cap Rate 9%
$212,811
$212.8K
Market Conditions
NOI Build-Up for 1,875 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
$37.1K $19.80/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$34.8K $18.57/SF
− OpEx
−$15.7K −$8.36/SF
NOI
$19.2K $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 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%
$383,060
Cap Rate 7%
$273,614
Cap Rate 9%
$212,811
Alternative Uses
Best Use
Apartment 5plus
$273.6K
$239.4K – $319.2K
NOI $19,153 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 78214, TX
22,664
Population
8,447
Households
2.7
Avg Household Size
37
Median Age
9%
College-Educated
69%
High-School Grad
8.3 sq mi
ZIP Area
2,731
Density / Sq Mi
$41,334
Median Household Income
$31,397
Median Earnings
$934
Median Rent
$121,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A detached studio casita and a separate two-bedroom home provide flexible living arrangements on one lot with no HOA.
Where is this multifamily property located?
The property is located at 127 Lorraine Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $394,500.
What are key features of this property?
This property features: Two separate renovated residences on one lot; no HOA; Main home measures 1,254 sq. ft. and has 2 bedrooms and 2 bathrooms; Detached 624 sq. ft. studio casita includes a kitchen and bathroom
