Tobin Hills Multifamily
For Sale
$1,750,000
327 E Locust St San, San Antonio, TX 78212
Renovated multifamily property near downtown San Antonio and Pearl Brewery.
Property Size10,926 SF
Lot Size0.42 Acres
Price / SF$160.17
Days on Market231
Property Features for 327 E Locust St San
General Information
Standard status
Active
Size
10,926 SF
Lot size
0.42 Acres
Property subtype
Multifamily
Net Operating Income
$124,310
Building Details
Building Size
10,926 SF
Year Built
1963
Listing Agency:
Caisson Real Estate
Listed By:
Jonathon Webster · License #TX #771633
(210) 789-8841
Source:
Caissonre
Added: Mar 5
Changed: Oct 14
Last Checked: Oct 20 at 7:29PM
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 Caisson Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 327 E Locust St in San Antonio, TX, The Tobin Hills Lofts is a multifamily property featuring 14 modern units within a 10,926 SF building. Constructed in 1963 and renovated in 2023, the property is zoned MF-33. It is situated at the corner of E Locust St and Paschal St, conveniently located near downtown San Antonio, the Pearl Brewery development, St. Mary's St., and major city highways including I-35N and HWY 281. The property sits on 0.42 acres and includes new cattle fencing, private covered tenant parking, ample street parking, an upgraded laundry room, and new building security access. High-end finishes and fixtures are installed throughout, including an upgraded courtyard with hammocks, landscaping, and a communal fire pit. The property is currently 100% occupied and presents value-add opportunities. Over $325k of improvements have been made.
Key Highlights
- 100% occupancy with strong rental history
- Value add opportunities still present
- Renovated in 2023 with high‑end finishes and fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,607
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,232,140
$2.2M
Cap Rate 7%
$1,594,386
$1.6M
Cap Rate 9%
$1,240,078
$1.2M
Market Conditions
NOI Build-Up for 10,926 SF
Gross rent
$216.3K $19.80/SF
− Vacancy
−$13.4K −$1.23/SF
EGI
$202.9K $18.57/SF
− OpEx
−$91.3K −$8.36/SF
NOI
$111.6K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,232,140
Cap Rate 7%
$1,594,386
Cap Rate 9%
$1,240,078
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.40M – $1.86M
NOI $111,607 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,093 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,462
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property near downtown San Antonio and Pearl Brewery.
Where is this apartment building located?
The property is located at 327 E Locust St San San Antonio, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 100% occupancy with strong rental history; Value add opportunities still present; Renovated in 2023 with high‑end finishes and fixtures
