San Antonio Fourplex Investment
For Sale
$995,000
210 Piedmont, San Antonio, TX 78203
MULTI_FAMILY - San Antonio, TX
Property Size3,696 SF
Lot Size0.15 Acres
Price / SF$269.21
Days on Market102
Property Features for 210 Piedmont
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-4
Elementary school
Call District
Middle school
Call District
High school
Call District
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
1200
Standard status
Active
Size
3,696 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
12446
Building Details
Year built
2022
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(210) 482-3200
Listed By:
Guillermo Moya
(210) 482-3200
Added: May 3
Changed: May 4
Last Checked: Aug 12 at 5:06PM
MLS# 1942829
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.
This contemporary fourplex in downtown San Antonio presents an investment opportunity. Each unit features 2 bedrooms and 2.5 bathrooms, with open-concept living spaces. The units are designed with sleek finishes, high ceilings, and large windows that provide natural light. Kitchens include quartz countertops and stainless-steel appliances. Each unit also has spacious bedrooms, designer bathrooms, in-unit laundry, and private patios. The property is located near the San Antonio River Walk and The Alamo, with access to dining, entertainment, and major employers. The property is zoned RM-4 and has a lot size of 0.152 acres. The building size is 3696 square feet.
Key Highlights
- Prime downtown San Antonio location, minutes from the River Walk and The Alamo.
- Strong rental potential in a rapidly growing Texas market.
- Modern fourplex built in 2022.
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
Location Intelligence
Trade Area within ½ mile
357
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Modern fourplex near River Walk, ideal for investors.
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: Prime downtown San Antonio location, minutes from the River Walk and The Alamo.; Strong rental potential in a rapidly growing Texas market.; Modern fourplex built in 2022.
