Fully Leased Triplex with Attached
For Sale
$630,000
7314 Colina Way, Converse, TX 78109
Three 3-bedroom, 2.5-bath units are fully leased, each with attached garages and upgraded interior finishes.
Property Size3,648 SF
Price / SF$172.70
Days on Market514
Property Features for 7314 Colina Way
General Information
Standard status
Active
Size
3,648 SF
Property subtype
Multi-Family / Two Story
Occupancy
100%
Net Operating Income
$45,780
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,576
Amenities
stained concrete floors
attached garages
tray ceilings
modern kitchens with granite countertops
Carpeting, Ceramic Tile, Stained Concrete
Composition
Slab
Pre-Owned
Conventional, FHA, VA, Cash
Not Applicable/None
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
SaleWerx San Antonio
Listed By:
Brad Larsen
(210) 497-8686
Source:
Compass
Added: Apr 12, 2025
Changed: Aug 8
Last Checked: Jul 23 at 5:51AM
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 SaleWerx San Antonio
Investment Insights
Based on property information with market context.
Well-maintained triplex offered as a Dutch auction, with the purchase price dropping by $5,000 every two weeks until the property is sold. The property is fully leased and consists of three spacious 3-bedroom, 2.5-bath units. Interior features include stained concrete floors on the main level for low maintenance, along with tray ceilings and modern kitchens with granite countertops. Each unit also includes an attached garage.
The property is located at 7314 Colina Way in Converse, TX 78109. With all units currently leased, it presents a turnkey, income-producing residential income opportunity for buyers looking for an existing, occupied asset.
The property is located at 7314 Colina Way in Converse, TX 78109. With all units currently leased, it presents a turnkey, income-producing residential income opportunity for buyers looking for an existing, occupied asset.
Key Highlights
- Fully leased tri‑plex with three 3‑bedroom, 2.5‑bath units
- Each unit includes attached garage access
- Interior finishes include stained concrete floors, ceramic tile, and carpeting
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
$38,423
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
6.10%
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%
$768,460
$768.5K
Cap Rate 7%
$548,900
$548.9K
Cap Rate 9%
$426,922
$426.9K
Market Conditions
NOI Build-Up for 3,648 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
$59.1K $16.20/SF
− Vacancy
−$4.2K −$1.15/SF
EGI
$54.9K $15.05/SF
− OpEx
−$16.5K −$4.51/SF
NOI
$38.4K $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%
$768,460
Cap Rate 7%
$548,900
Cap Rate 9%
$426,922
Alternative Uses
Best Use
Multifamily LT 5
$548.9K
$480.3K – $640.4K
NOI $38,423 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$477.2K
$417.6K – $556.8K
NOI $33,407 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$987.4K
$863.9K – $1.15M
NOI $69,115 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 78109, TX
52,093
Population
19,279
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
92%
High-School Grad
27.8 sq mi
ZIP Area
1,874
Density / Sq Mi
$87,635
Median Household Income
$44,182
Median Earnings
$1,645
Median Rent
$241,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three 3-bedroom, 2.5-bath units are fully leased, each with attached garages and upgraded interior finishes.
Where is this triplex located?
The property is located at 7314 Colina Way Converse, TX.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Fully leased tri‑plex with three 3‑bedroom, 2.5‑bath units; Each unit includes attached garage access; Interior finishes include stained concrete floors, ceramic tile, and carpeting
