Four-Unit Multifamily
23051 Highway 281 San Antonio, TX 78264
23051 Highway 281, San Antonio, TX, 78264
$360,000
For Sale
$360,000
Four one-story units include two 2/1 duplexes and two 1/1 units, sold as-is and needing some TLC.
Property Size3,080 SF
Lot Size3.00 Acres
Price / SF$116.88
Days on Market464
Property Features for 23051 Highway 281
General Information
- Standard status
- Active
- Size
- 3,080 SF
- Lot size
- 3.00 Acres
- Property subtype
- Multi-Family / One Story
Building Details
- Year Built
- 1992
Listing agency
Redbird Realty LLC
(210) 373-0371
Listed by
Yesenia Loera
(210) 373-0371
Source
Compass
Added: Apr 15, 2025 Updated: Jul 22 at 1:34AM Checked: Jul 22 at 11:13AM
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 Redbird Realty LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property is being sold as-is and will need some TLC. The layout includes two duplexes with 2/1 configurations on one story and two additional 1/1 one-story units. Two units are currently occupied, generating $1,700 per month, while the other two units are not occupied and may be ready for occupancy.
Set on 3 acres described as an OCL property, the site is located on Highway 281 outside 1604. Buyers and buyer’s agents are advised to verify room measurements, taxes, schools, and any other items of importance.
No survey is available. Prospective buyers should plan to conduct their own due diligence regarding the property and its readiness for continued or expanded use.
Set on 3 acres described as an OCL property, the site is located on Highway 281 outside 1604. Buyers and buyer’s agents are advised to verify room measurements, taxes, schools, and any other items of importance.
No survey is available. Prospective buyers should plan to conduct their own due diligence regarding the property and its readiness for continued or expanded use.
Key Highlights
- Four 1‑story units: two 2/1 duplexes and two 1/1 units
- On 3 acres on Highway 281 outside 1604
- 2 units occupied and 2 units not occupied, with producing rent of $1,700/month
Local 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 | $61.0k | $19.80 |
| − Vacancy | −$3.8k | −$1.23 |
| EGI | $57.2k | $18.57 |
| − OpEx | −$25.7k | −$8.36 |
| NOI | $31.5k | $10.21 |
3,080 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$506.4K
$443.1K – $590.9K
NOI $35,451 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$449.5K
$393.3K – $524.4K
NOI $31,462 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$785.7K
$687.5K – $916.6K
NOI $54,996 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four one-story units include two 2/1 duplexes and two 1/1 units, sold as-is and needing some TLC.
Where is this quadplex located?
The property is located at 23051 Highway 281 San Antonio, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four 1‑story units: two 2/1 duplexes and two 1/1 units; On 3 acres on Highway 281 outside 1604; 2 units occupied and 2 units not occupied, with producing rent of $1,700/month
