Modern Fourplex With Private
For Sale
$995,000
210 Piedmont, San Antonio, TX 78203
Four residential units offer open layouts, in-unit laundry, and private outdoor space.
Property Size3,696 SF
Price / SF$269.21
Days on Market55
Property Features for 210 Piedmont
General Information
Standard status
Active
Size
3,696 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2.5BA
Multifamily Units
4
Amenities
in-unit laundry
private patios
designer bathrooms
quartz countertops
stainless steel appliances
high ceilings
large windows
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Keller Williams Legacy
(210) 291-1422
Listed By:
Guillermo Moya
Source:
Theswinneygroup
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 30 at 8:10PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
Built in 2022, this 3,696-square-foot fourplex contains four residential units, each with two bedrooms and 2.5 bathrooms. Interior features include open-concept living areas, high ceilings, large windows, quartz kitchen countertops, stainless-steel appliances, in-unit laundry, and private patios. Spacious bedrooms and designer-finished bathrooms complete the unit layouts.
The property is located at 210 Piedmont in downtown San Antonio, with the San Antonio River Walk, The Alamo, dining, entertainment, and major employers situated just minutes away. The configuration provides four individually designed residences within one modern multifamily asset.
The property is located at 210 Piedmont in downtown San Antonio, with the San Antonio River Walk, The Alamo, dining, entertainment, and major employers situated just minutes away. The configuration provides four individually designed residences within one modern multifamily asset.
Key Highlights
- Fourplex with four units, each offering 2 bedrooms and 2.5 bathrooms
- 3,696 square feet built in 2022
- Open‑concept living spaces with high ceilings and large windows
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
$42,541
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
4.28%
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%
$850,820
$850.8K
Cap Rate 7%
$607,729
$607.7K
Cap Rate 9%
$472,678
$472.7K
Market Conditions
NOI Build-Up for 3,696 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
$64.3K $17.40/SF
− Vacancy
−$3.5K −$0.96/SF
EGI
$60.8K $16.44/SF
− OpEx
−$18.2K −$4.93/SF
NOI
$42.5K $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%
$850,820
Cap Rate 7%
$607,729
Cap Rate 9%
$472,678
Alternative Uses
Best Use
Multifamily LT 5
$607.7K
$531.8K – $709.0K
NOI $42,541 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$539.3K
$471.9K – $629.2K
NOI $37,754 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$942.8K
$824.9K – $1.10M
NOI $65,995 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 78203, TX
5,872
Population
2,380
Households
2.5
Avg Household Size
35
Median Age
14%
College-Educated
75%
High-School Grad
1.4 sq mi
ZIP Area
4,194
Density / Sq Mi
$34,815
Median Household Income
$28,146
Median Earnings
$989
Median Rent
$139,900
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?
Quadplex - Four residential units offer open layouts, in-unit laundry, and private outdoor space.
Where is this quadplex located?
The property is located at 210 Piedmont San Antonio, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Fourplex with four units, each offering 2 bedrooms and 2.5 bathrooms; 3,696 square feet built in 2022; Open‑concept living spaces with high ceilings and large windows
