Three-Unit
For Sale
$495,000
1522 S Elmendorf, San Antonio, TX 78207
Multi-Family (2-8 Units), San Antonio, TX
Property Size3,285 SF
Lot Size0.11 Acres
Price / SF$150.68
Days on Market65
Property Features for 1522 S Elmendorf
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF-33
Elementary school
King
Middle school
Rhodes
High school
Lanier
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
0700
Standard status
Active
Size
3,285 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
8325
Building Details
Year built
2023
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Martha Mora
(214) 202-7615
Added: Jun 29
Changed: Aug 30
Last Checked: Sep 1 at 12:06AM
MLS# 1995739
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.
Investment Insights
Based on property information with market context.
Completed in 2023, this triplex contains three 3-bedroom, 2-bath residences arranged as a detached front house and a rear duplex. The front residence measures 1,067 square feet, while the duplex provides 2,218 square feet, for a combined property size of 3,285 square feet. Modern mechanical systems and contemporary interior finishes are in place throughout the property, which is fully tenant occupied.
The approximately 0.109-acre site is located at 1522 S Elmendorf in San Antonio. Its position west of Downtown provides access to Highway 90 and Interstate 10, connecting the property with destinations across the San Antonio metro area. Zoning is MF-33.
The layout offers three separate residences, each with the same three-bedroom, two-bath configuration. The 2023 construction date and current occupancy provide clear, measurable characteristics for evaluating the asset as a multifamily property.
The approximately 0.109-acre site is located at 1522 S Elmendorf in San Antonio. Its position west of Downtown provides access to Highway 90 and Interstate 10, connecting the property with destinations across the San Antonio metro area. Zoning is MF-33.
The layout offers three separate residences, each with the same three-bedroom, two-bath configuration. The 2023 construction date and current occupancy provide clear, measurable characteristics for evaluating the asset as a multifamily property.
Key Highlights
- Three 3‑bedroom, 2‑bath units, including a detached residence and rear duplex
- 2023‑built triplex with 3,285 square feet total
- Front residence contains 1,067 SF; rear duplex contains 2,218 SF
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
$37,811
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
7.64%
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%
$756,220
$756.2K
Cap Rate 7%
$540,157
$540.2K
Cap Rate 9%
$420,122
$420.1K
Market Conditions
NOI Build-Up for 3,285 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
$57.2K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$54.0K $16.44/SF
− OpEx
−$16.2K −$4.93/SF
NOI
$37.8K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$756,220
Cap Rate 7%
$540,157
Cap Rate 9%
$420,122
Alternative Uses
Best Use
Multifamily LT 5
$540.2K
$472.6K – $630.2K
NOI $37,811 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$479.4K
$419.5K – $559.3K
NOI $33,556 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$837.9K
$733.2K – $977.6K
NOI $58,656 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 78207, TX
51,705
Population
18,750
Households
2.8
Avg Household Size
34
Median Age
6%
College-Educated
62%
High-School Grad
7.3 sq mi
ZIP Area
7,083
Density / Sq Mi
$30,655
Median Household Income
$23,696
Median Earnings
$857
Median Rent
$93,200
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?
Triplex - Fully occupied triplex with contemporary finishes and convenient access to Downtown San Antonio, Highway 90, and Interstate 10.
Where is this triplex located?
The property is located at 1522 S Elmendorf San Antonio, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Three 3‑bedroom, 2‑bath units, including a detached residence and rear duplex; 2023‑built triplex with 3,285 square feet total; Front residence contains 1,067 SF; rear duplex contains 2,218 SF
