New Multifamily Community with 7
For Sale
$1,999,000
30652 Oakview Road, Bulverde, TX 78163
Newly built multifamily property includes seven units across private gated acreage, with both parking garages and covered carports.
Property Size7,409 SF
Price / SF$269.81
Days on Market79
Property Features for 30652 Oakview Road
General Information
Standard status
Active
Size
7,409 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
7
Building Details
Year Built
2024
Listing Agency:
AE Realty
Listed By:
Kailee Morgan
(210) 788-7374
Source:
Phyllisbrowning
Added: Jun 21
Changed: Sep 6
Last Checked: Sep 6 at 9:42AM
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 AE Realty
Investment Insights
Based on property information with market context.
The Grapevine Estates is a newly built multifamily community with seven total units on just over 3 private, gated acres. Six units are 2-bedroom, 2-bath residences, and one unit is partially complete as a 3/4-built 1-bedroom, 1-bath. Unit sizes are described as approximately 1,000 to 1,510 square feet. Parking includes two attached garages, with the remaining units offering covered carports or dedicated parking spaces. Two units are currently leased as long-term rentals, while four are operating as fully furnished short-term rentals.
Located in Bulverde, Texas, the property emphasizes a private setting within the Texas Hill Country.
The on-site configuration includes a mix of completed and one partially complete unit, alongside established rental operations spanning both long-term and fully furnished short-term use.
Located in Bulverde, Texas, the property emphasizes a private setting within the Texas Hill Country.
The on-site configuration includes a mix of completed and one partially complete unit, alongside established rental operations spanning both long-term and fully furnished short-term use.
Key Highlights
- Newly built 7‑unit multifamily property (Year Built 2024) on just over 3 private, gated acres
- Unit mix: six 2BD/2BA units plus one 3/4ths complete 1BD/1BA unit
- Approx. unit sizes range from 1,000 to 1,510 SF
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
$66,014
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
3.30%
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%
$1,320,280
$1.3M
Cap Rate 7%
$943,057
$943.1K
Cap Rate 9%
$733,489
$733.5K
Market Conditions
NOI Build-Up for 7,409 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
$133.4K $18.00/SF
− Vacancy
−$13.3K −$1.80/SF
EGI
$120.0K $16.20/SF
− OpEx
−$54.0K −$7.29/SF
NOI
$66.0K $8.91/SF
Area
Comal County, TX
Vacancy
10.00%
Lease Rate
$18.00 /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%
$1,320,280
Cap Rate 7%
$943,057
Cap Rate 9%
$733,489
Alternative Uses
Best Use
Apartment 5plus
$943.1K
$825.2K – $1.10M
NOI $66,014 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,294 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 78163, TX
13,960
Population
6,609
Households
2.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
74.8 sq mi
ZIP Area
187
Density / Sq Mi
$133,681
Median Household Income
$63,396
Median Earnings
$1,406
Median Rent
$431,100
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 - Newly built multifamily property includes seven units across private gated acreage, with both parking garages and covered carports.
Where is this apartment building located?
The property is located at 30652 Oakview Road Bulverde, TX.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Newly built 7‑unit multifamily property (Year Built 2024) on just over 3 private, gated acres; Unit mix: six 2BD/2BA units plus one 3/4ths complete 1BD/1BA unit; Approx. unit sizes range from 1,000 to 1,510 SF
