Updated Single-Story
For Sale
$449,000
166 El Monte Boulevard, San Antonio, TX 78212
R-6 zoning with one occupied unit and two additional units described as move-in ready.
Property Size1,842 SF
Price / SF$243.76
Days on Market307
Property Features for 166 El Monte Boulevard
General Information
Standard status
Active
Size
1,842 SF
Property subtype
Multi-Family / One Story
Zoning
R-6
Net Operating Income
$21,430
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,109
Amenities
Ceramic Tile, Linoleum
Composition
Pre-Owned
Conventional, Cash
Patio Slab
Building Details
Year Built
1949
Buildings
1
Stories
1
Listing Agency:
Phyllis Browning Company
(210) 378-7252
Listed By:
Travis Reed
(210) 378-7252
Source:
Compass
Added: Oct 28, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:21PM
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 single-story triplex contains three residential units within 1,842 square feet and was built in 1949. Each unit has been updated, with ceramic tile and linoleum among the identified interior finishes. One unit is currently tenant-occupied, while the other two are described as move-in ready. Exterior features include composition materials and a patio slab.
The property is located at 166 El Monte Boulevard in San Antonio, with access to Hwy 281 and downtown. Shopping and dining are also identified nearby. The property carries R-6 zoning and presents a three-unit configuration with one existing tenancy and two units available for occupancy.
The property is located at 166 El Monte Boulevard in San Antonio, with access to Hwy 281 and downtown. Shopping and dining are also identified nearby. The property carries R-6 zoning and presents a three-unit configuration with one existing tenancy and two units available for occupancy.
Key Highlights
- Three‑unit, single‑story triplex totaling 1,842 square feet
- Each unit has been updated
- One unit is currently tenant‑occupied
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
$21,202
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
4.72%
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%
$424,040
$424.0K
Cap Rate 7%
$302,886
$302.9K
Cap Rate 9%
$235,578
$235.6K
Market Conditions
NOI Build-Up for 1,842 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
$32.1K $17.40/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$30.3K $16.44/SF
− OpEx
−$9.1K −$4.93/SF
NOI
$21.2K $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%
$424,040
Cap Rate 7%
$302,886
Cap Rate 9%
$235,578
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.0K – $353.4K
NOI $21,202 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,816 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$469.9K
$411.1K – $548.2K
NOI $32,890 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
631
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?
Triplex - R-6 zoning with one occupied unit and two additional units described as move-in ready.
Where is this triplex located?
The property is located at 166 El Monte Boulevard San Antonio, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three‑unit, single‑story triplex totaling 1,842 square feet; Each unit has been updated; One unit is currently tenant‑occupied
