Well-Maintained Fiveplex with
For Sale
$675,000
230 East Mulberry Avenue, San Antonio, TX 78212
Well-maintained five-unit multifamily property with high occupancy, oversized shared deck, and one private balcony.
Property Size3,264 SF
Price / SF$206.80
Days on Market157
Property Features for 230 East Mulberry Avenue
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Multi-Family / Two Story
Additional Details
Multifamily Units
5
Building Details
Year Built
1958
Listing Agency:
Parman Group
(210) 857-7060
Listed By:
Thomas Nyman
(210) 857-7060
Source:
Compass
Added: Feb 28
Changed: Jul 21
Last Checked: Aug 4 at 11:29AM
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 Parman Group
Investment Insights
Based on property information with market context.
This well-maintained fiveplex features strong occupancy and a tenant mix described as consistently renewing. The property includes outdoor space with a beautiful, tree-lined setting, an oversized deck for tenants, and one private balcony or terrace. Unit 1 has an in-unit washer and dryer, which the seller indicates could be converted to common use for all units.
The property is located on a quieter block of Mulberry in San Antonio. The long-term ownership history is noted as 27 years, and the listing indicates the owner will consider owner financing.
The offering is a residential income property consisting of five separate units within a single multifamily building.
The property is located on a quieter block of Mulberry in San Antonio. The long-term ownership history is noted as 27 years, and the listing indicates the owner will consider owner financing.
The offering is a residential income property consisting of five separate units within a single multifamily building.
Key Highlights
- Well‑maintained 5‑plex multifamily property with high occupancy
- Same owner for 27 years; tenants consistently renew with a strong tenant mix
- Year built: 1958
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.6k | $19.80 |
| − Vacancy | −$4.0k | −$1.23 |
| EGI | $60.6k | $18.57 |
| − OpEx | −$27.3k | −$8.36 |
| NOI | $33.3k | $10.21 |
3,264 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$476.3K
$416.8K – $555.7K
NOI $33,341 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$832.6K
$728.5K – $971.4K
NOI $58,281 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,136
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 - Well-maintained five-unit multifamily property with high occupancy, oversized shared deck, and one private balcony.
Where is this apartment building located?
The property is located at 230 East Mulberry Avenue San Antonio, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Well‑maintained 5‑plex multifamily property with high occupancy; Same owner for 27 years; tenants consistently renew with a strong tenant mix; Year built: 1958
