8-Unit Apartment
For Sale
$1,100,000
209 Zilla St, San Antonio, TX 78212
Two-bedroom units provide a consistent multifamily layout near dining, shopping, and entertainment.
Property Size4,928 SF
Price / SF$223.21
Days on Market34
Property Features for 209 Zilla St
General Information
Standard status
Active
Size
4,928 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Building Details
Year Built
1985
Listing Agency:
Ivan Mancillas, Broker
Listed By:
Ivan Mancillas
(210) 416-5400
Source:
Kingdomtxrealty
Added: Aug 1
Changed: Aug 30
Last Checked: Sep 1 at 9:58PM
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 Ivan Mancillas, Broker
Investment Insights
Based on property information with market context.
This apartment property contains 8 units, with each residence configured as a 2-bedroom, 1-bathroom layout. The property totals 4,928 square feet, while units average 616 square feet. Constructed in 1985, the building offers a consistent unit profile across the property.
The apartments are located near the intersection of McCullough Ave. and Basse Rd. Dining, shopping, and entertainment options are described as being just minutes away, adding convenient access to everyday amenities. The uniform bedroom and bathroom configuration provides a straightforward operating profile for multifamily ownership.
The apartments are located near the intersection of McCullough Ave. and Basse Rd. Dining, shopping, and entertainment options are described as being just minutes away, adding convenient access to everyday amenities. The uniform bedroom and bathroom configuration provides a straightforward operating profile for multifamily ownership.
Key Highlights
- 8 units, each with 2 bedrooms and 1 bathroom
- 4,928 square feet total property size
- Units average 616 sq. ft. each
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
$50,339
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
4.58%
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%
$1,006,780
$1.0M
Cap Rate 7%
$719,129
$719.1K
Cap Rate 9%
$559,322
$559.3K
Market Conditions
NOI Build-Up for 4,928 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
$97.6K $19.80/SF
− Vacancy
−$6.0K −$1.23/SF
EGI
$91.5K $18.57/SF
− OpEx
−$41.2K −$8.36/SF
NOI
$50.3K $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%
$1,006,780
Cap Rate 7%
$719,129
Cap Rate 9%
$559,322
Alternative Uses
Best Use
Apartment 5plus
$719.1K
$629.2K – $839.0K
NOI $50,339 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,993 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
794
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?
Apartment building - Two-bedroom units provide a consistent multifamily layout near dining, shopping, and entertainment.
Where is this apartment building located?
The property is located at 209 Zilla St San Antonio, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 8 units, each with 2 bedrooms and 1 bathroom; 4,928 square feet total property size; Units average 616 sq. ft. each
