11-Unit Apartment
For Sale
$3,500,000
1807 La Sombra Dr, San Antonio, TX 78209
Renovated multifamily property with courtyard-style residential spaces in Alamo Heights.
Property Size10,765 SF
Price / SF$325.13
Days on Market17
Property Features for 1807 La Sombra Dr
General Information
Standard status
Active
Size
10,765 SF
Additional Details
Multifamily Units
11
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Davidson Properties, Inc.
Listed By:
Dylan Thomas · License #701275
(210) 826-1616
Source:
Sarahildebrandaguilera
Added: Aug 18
Changed: Aug 28
Last Checked: Sep 1 at 10:42PM
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 Davidson Properties, Inc.
Investment Insights
Based on property information with market context.
Located at 1807 La Sombra Dr in San Antonio, this 11-unit apartment property offers 10,765 square feet of multifamily improvements. Built in 1965, the building has undergone renovation and is organized around a courtyard-style residential setting.
The property is positioned in Alamo Heights along the Broadway Corridor, providing an established San Antonio setting for a smaller-scale apartment asset. Its unit count, courtyard configuration, and renovated condition distinguish it from larger multifamily formats while retaining a focused residential layout.
The property is positioned in Alamo Heights along the Broadway Corridor, providing an established San Antonio setting for a smaller-scale apartment asset. Its unit count, courtyard configuration, and renovated condition distinguish it from larger multifamily formats while retaining a focused residential layout.
Key Highlights
- 11‑unit apartment property totaling 10,765 square feet
- Renovated multifamily building with courtyard‑style residential layout
- Built in 1965
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
$109,963
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
3.14%
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%
$2,199,260
$2.2M
Cap Rate 7%
$1,570,900
$1.6M
Cap Rate 9%
$1,221,811
$1.2M
Market Conditions
NOI Build-Up for 10,765 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
$213.1K $19.80/SF
− Vacancy
−$13.2K −$1.23/SF
EGI
$199.9K $18.57/SF
− OpEx
−$90.0K −$8.36/SF
NOI
$110.0K $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 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%
$2,199,260
Cap Rate 7%
$1,570,900
Cap Rate 9%
$1,221,811
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,963 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,218 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 78209, TX
42,456
Population
22,771
Households
1.9
Avg Household Size
40
Median Age
62%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
4,162
Density / Sq Mi
$84,180
Median Household Income
$57,921
Median Earnings
$1,371
Median Rent
$497,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property with courtyard-style residential spaces in Alamo Heights.
Where is this apartment building located?
The property is located at 1807 La Sombra Dr San Antonio, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 11‑unit apartment property totaling 10,765 square feet; Renovated multifamily building with courtyard‑style residential layout; Built in 1965
