Remodeled Three-Unit
For Sale
$289,900
215 COLTON, San Juan, PR 00915
Residential Income, SAN JUAN, PRI
Property Size2,700 SF
Lot Size0.06 Acres
Price / SF$107.37
Days on Market151
Property Features for 215 COLTON
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-1
Bedrooms
18
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 13, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 14, Bedroom 11, Bathroom 2, Bedroom 9, Bathroom 4, Bathroom 3, Bedroom 17, Bedroom 1, Bedroom 8, Bedroom 18, Bedroom 3, Bedroom 16, Bedroom 10, Bedroom 5, Bedroom 12, Bedroom 7, Bathroom 5, Bathroom 6, Bedroom 15
Interior features
Solid Wood Cabinets
Exterior features
Balcony
Subdivision
CASA TULITA
Directions
Get on Expreso Rafael Martinez Nadal/PR-20 in Gobernador Pinero from Ca. Felipe de Plana and Marginal Expreso Rafael Martinez Nadal Continue on Expreso Rafael Martinez Nadal/PR-20. Take Autop. Jose de Diego/PR-22 to Marginal Baldorioty de Castro in Santurce. Take exit 4 from Expreso Roman Baldorioty de Castro/PR-26 Follow Marginal Baldorioty de Castro to Cll Henna in Villa Palmeras 212 Cll Colton San Juan, 00915
Standard status
Active
APN
041-063-348-18-901
Size
2,700 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1960
Building materials
Concrete
Roof type
Concrete
Listing Agency:
MARES - MANAGEMENT REALTY EXPERT
(939) 287-7097
Listed By:
Mayte Sotomayor Alonso · License #17905
(787) 782-4444
Added: May 4
Changed: Sep 28
Last Checked: Oct 1 at 2:06PM
MLS# PR9121083
Copyright © 2026 Stellar 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 concrete triplex contains three separate residential units within approximately 2,700 square feet. The property was recently remodeled and includes aluminum doors with frosted glass, solid wood cabinets, electric heating, and a concrete roof. Each unit has its own water and electric meter. Kitchens are equipped with refrigerators, stoves, and tankless water heaters; one unit also includes air conditioning, while the second-floor residence adds ceiling fans, a private balcony, and a covered terrace.
Built in 1960, the property sits on a 0.06-acre corner parcel at 215 Colton in San Juan, Puerto Rico. Public water and public sewer serve the property, and the zoning is R-1. The three-unit configuration and separate utility metering provide a clearly defined multifamily layout.
Built in 1960, the property sits on a 0.06-acre corner parcel at 215 Colton in San Juan, Puerto Rico. Public water and public sewer serve the property, and the zoning is R-1. The three-unit configuration and separate utility metering provide a clearly defined multifamily layout.
Key Highlights
- Three separate residential units in a 2,700‑square‑foot triplex
- Each unit has its own water and electric meter
- Recently remodeled concrete property built in 1960
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
$24,033
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
8.29%
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%
$480,660
$480.7K
Cap Rate 7%
$343,329
$343.3K
Cap Rate 9%
$267,033
$267.0K
Market Conditions
NOI Build-Up for 2,700 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
$45.9K $17.00/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$43.7K $16.18/SF
− OpEx
−$19.7K −$7.28/SF
NOI
$24.0K $8.90/SF
Area
San Juan, PR
Vacancy
4.80%
Lease Rate
$17.00 /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%
$480,660
Cap Rate 7%
$343,329
Cap Rate 9%
$267,033
Alternative Uses
Best Use
Multifamily LT 5
$394.3K
$345.0K – $460.0K
NOI $27,598 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$343.3K
$300.4K – $400.6K
NOI $24,033 @ 7.0% cap · market cap 8.29%
Theoretical Best
Specialty Retail
$661.0K
$578.3K – $771.1K
NOI $46,267 @ 7.0% cap · market cap 15.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Demographics for 00915, PR
25,075
Population
15,402
Households
1.6
Avg Household Size
44
Median Age
14%
College-Educated
67%
High-School Grad
1.4 sq mi
ZIP Area
17,911
Density / Sq Mi
$14,502
Median Household Income
$13,758
Median Earnings
$517
Median Rent
$109,600
Median Home Value
Market
Vacancy Rate% for Multifamily in the U.S.
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Corner multifamily property with separately metered units, residential zoning, and furnished kitchen appliances.
Where is this triplex located?
The property is located at 215 COLTON San Juan, PR.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Three separate residential units in a 2,700‑square‑foot triplex; Each unit has its own water and electric meter; Recently remodeled concrete property built in 1960
