16-Unit Multifamily
New
For Sale
$3,200,000
1502 S Walters, San Antonio, TX 78210
Commercial Improved Prop, San Antonio, TX
Property Size21,376 SF
Lot Size0.91 Acres
Price / SF$149.70
Days on Market5
Property Features for 1502 S Walters
General Information
Property type
Other
Property subtype
Retail
Zoning
RM-4
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
1200
Standard status
Active
APN
016391000000
Size
21,376 SF
Lot size
0.91 Acres
Additional Details
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Annual Amount
0
Utilities
Heating system
Central
Building Details
Year built
2025
Floors in Building
3
Number of units
16
Roof type
Composition
Buildings
8
Listing Agency:
Suburban Spaces, LLC
Listed By:
Chad Nall
(210) 263-9323
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 26 at 2:06AM
MLS# 2024718
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 2025 development comprises eight duplex buildings with 16 units across 21,376 square feet on 0.905 acres. Each three-story unit has three bedrooms, two full bathrooms, a half bath, and a garage. The second floor contains the kitchen and main living area, with white cabinetry, quartz counters, and stainless-steel appliances. Two bedrooms and two full bathrooms occupy the top floor; a ground-floor bedroom and half bath have a separate entrance. Electricity is separately metered for each unit.
The property is zoned RM-4. Approval is in place for six additional buildings totaling 12 units, subject to buyer verification.
The property is zoned RM-4. Approval is in place for six additional buildings totaling 12 units, subject to buyer verification.
Key Highlights
- Eight duplex buildings contain 16 units
- 21,376 square feet on 0.905 acres; built in 2025
- Each three‑story unit has 3 bedrooms, 2.5 bathrooms, and a garage
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.
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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 - Three-story units combine open living areas with a ground-level bedroom and separate entrance.
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 units; 21,376 square feet on 0.905 acres; built in 2025; Each three‑story unit has 3 bedrooms, 2.5 bathrooms, and a garage
