16-Unit Three-Story Multifamily
For Sale
$3,200,000
1502 S Walters, San Antonio, TX 78210
Gated residential community with separately metered electricity and a private-entry ground-floor room in each unit.
Property Size21,376 SF
Price / SF$149.70
Days on Market17
Property Features for 1502 S Walters
General Information
Standard status
Active
Size
21,376 SF
Property subtype
Commercial
Site & Location
Neighborhood
Denver Heights
Units
Multifamily Units
16
Individually Metered Utilities
electricity
Amenities
gated community
Building Details
Year Built
2025
Buildings
8
Listing Agency:
Suburban Spaces,LLC
Listed By:
Chad Nall · License #550904
(210) 262-1808
Source:
Phyllisbrowning
Added: Oct 12
Changed: Oct 27
Last Checked: Oct 28 at 8:31AM
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 Suburban Spaces,LLC
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Investment Insights
Based on property information with market context.
The 2025 development comprises eight duplex buildings and 16 three-story units. Each residence has three bedrooms, two and a half bathrooms, and a garage, with separate electrical metering. Open-plan living and a kitchen with white cabinetry, quartz counters, and stainless-steel appliances occupy the second floor. The top floor contains two bedrooms and two full bathrooms. A ground-level bedroom and half bath have a separate entrance, creating a distinct area within each residence.
The property is in a gated community at 1502 S Walters in San Antonio, near downtown. Approval is in place for six additional buildings and 12 more units, subject to buyer verification. The seller prefers a sale of the full project but will consider smaller groups.
The property is in a gated community at 1502 S Walters in San Antonio, near downtown. Approval is in place for six additional buildings and 12 more units, subject to buyer verification. The seller prefers a sale of the full project but will consider smaller groups.
Key Highlights
- Eight duplex buildings contain 16 three‑story residences
- Each unit has 3 bedrooms, 2.5 bathrooms, and a garage
- Approval for 6 additional buildings and 12 more units, subject to buyer verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$218,352
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,367,040
$4.4M
Cap Rate 7%
$3,119,314
$3.1M
Cap Rate 9%
$2,426,133
$2.4M
Market Conditions
NOI Build-Up for 21,376 SF
Gross rent
$423.2K $19.80/SF
− Vacancy
−$26.2K −$1.23/SF
EGI
$397.0K $18.57/SF
− OpEx
−$178.7K −$8.36/SF
NOI
$218.4K $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%
$4,367,040
Cap Rate 7%
$3,119,314
Cap Rate 9%
$2,426,133
Alternative Uses
Best Use
Apartment 5plus
$3.12M
$2.73M – $3.64M
NOI $218,352 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.45M
$4.77M – $6.36M
NOI $381,686 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
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Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Gated residential community with separately metered electricity and a private-entry ground-floor room in each unit.
Where is this multifamily property located?
The property is located at 1502 S Walters San Antonio, TX.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Eight duplex buildings contain 16 three‑story residences; Each unit has 3 bedrooms, 2.5 bathrooms, and a garage; Approval for 6 additional buildings and 12 more units, subject to buyer verification
