7-Unit Multifamily
New
For Sale
$1,500,000
631 E Ashby Pl, San Antonio, TX 78212
Three parcels combine existing residential improvements with multifamily redevelopment potential near Tobin Hill North.
Property Size6,228 SF
Lot Size0.49 Acres
Price / SF$240.85
Days on Market2
Property Features for 631 E Ashby Pl
General Information
Standard status
Active
Size
6,228 SF
Total Parking Spaces
7
Lot size
0.49 Acres
Property subtype
Commercial
Zoning
MF-33; R-6
Financials
Asking Price
$1,500,000
Gross Income
$74,340
Additional Details
Land Use
multi-family
Multifamily Units
7
Building Details
Year Built
1960
Stories
2
Listing Agency:
Phyllis Browning Company
Listed By:
David Abrahams ([email protected])
Source:
Realtyvortex
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 2 at 6:13AM
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 Phyllis Browning Company
Investment Insights
Based on property information with market context.
This multifamily assemblage includes three parcels totaling 0.493 acres and seven existing units, with five units currently occupied. The improvements date to 1960. The seller will convey the parcels together, creating a consolidated property with existing residential income use and redevelopment considerations.
The property is situated in Tobin Hill North near N. St. Mary's St., along the growth path toward the Pearl. Parcel 631 is zoned MF-33, while 635 and 641/643 are zoned R-6 and have an established duplex use supporting rezoning. Estimated redevelopment capacity is 14–15 units at full build-out, subject to buyer verification with the City.
The property is situated in Tobin Hill North near N. St. Mary's St., along the growth path toward the Pearl. Parcel 631 is zoned MF-33, while 635 and 641/643 are zoned R-6 and have an established duplex use supporting rezoning. Estimated redevelopment capacity is 14–15 units at full build-out, subject to buyer verification with the City.
Key Highlights
- Three‑parcel multifamily assemblage totaling 0.493 acres
- Seven existing units with 5 of 7 currently occupied
- 631 E Ashby Pl dates to 1960
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.3k | $19.80 |
| − Vacancy | −$7.6k | −$1.23 |
| EGI | $115.7k | $18.57 |
| − OpEx | −$52.1k | −$8.36 |
| NOI | $63.6k | $10.21 |
6,228 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$908.8K
$795.2K – $1.06M
NOI $63,618 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,206 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,357
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three parcels combine existing residential improvements with multifamily redevelopment potential near Tobin Hill North.
Where is this multifamily property located?
The property is located at 631 E Ashby Pl San Antonio, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑parcel multifamily assemblage totaling 0.493 acres; Seven existing units with 5 of 7 currently occupied; 631 E Ashby Pl dates to 1960
