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16-Unit Apartment Buildings with NNN Lease
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2331 Cincinnati Avenue, San Antonio, TX 78228

Fully occupied community under a commercial NNN master lease with 5% annual rent escalations.

Property Size14,112 SF
Lot Size1.13 Acres
Days on Market33

Property Features for 2331 Cincinnati Avenue

General Information

Standard status Active
Size 14,112 SF
Total Parking Spaces 10
Lot size 1.13 Acres
Property subtype Multifamily
Zoning MF-33
Occupancy 100%
Lease Type NNN
Investment Type Net Lease

Additional Details

Multifamily Units 16

Building Details

Year Built 1945
Buildings 2
Stories 2
Units 16
Tenancy Single
Construction masonry
Listing Agency: Lockwood Realty Group
Listed By: Trent Sellers · License #814316
Source: Crexi
Added: Jul 29 Changed: Aug 30 Last Checked: Aug 30 at 2:09AM

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 Lockwood Realty Group

Investment Insights

Based on property information with market context.

West End Flats comprises two masonry apartment buildings with 16 units and approximately 14,112 square feet on 1.13 acres. Constructed in 1945, the property is fully occupied and operates under a 36-month commercial NNN master lease with 5% annual rent escalations. The structure consolidates the residential units under one commercial lease rather than separate apartment agreements.

The property is located at 2331 Cincinnati Avenue in San Antonio’s Woodlawn Lake submarket, near Downtown San Antonio, St. Mary's University, and the South Texas Medical Center. Existing MF-33 multifamily zoning supports the property’s current apartment use and provides a defined framework for future ownership planning.

Key Highlights

  • 16‑unit apartment community totaling approximately 14,112 square feet
  • Two masonry apartment buildings on 1.13 acres
  • 36‑month commercial NNN master lease

Property Analytics

Current Use

UNITVERSITY APARTMENTS Apartment Complex

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Skin Care Clinic Spa & Massage Center Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16
Residential units

Location Intelligence

Trade Area within ½ mile

757
Businesses Nearby

Demographics for 78228, TX

56,369
Population
21,397
Households
2.6
Avg Household Size
37
Median Age
14%
College-Educated
74%
High-School Grad
10.9 sq mi
ZIP Area
5,171
Density / Sq Mi
$50,865
Median Household Income
$30,811
Median Earnings
$1,004
Median Rent
$164,700
Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - Fully occupied community under a commercial NNN master lease with 5% annual rent escalations.
Where is this apartment building located?
The property is located at 2331 Cincinnati Avenue San Antonio, TX.
What are key features of this property?
This property features: 16‑unit apartment community totaling approximately 14,112 square feet; Two masonry apartment buildings on 1.13 acres; 36‑month commercial NNN master lease
More about this property
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