Tobin Hills Multifamily
327 E Locust St San San Antonio, TX 78212
327 E Locust St San, San Antonio, TX, 78212
$1,750,000
For Sale
$1,750,000
Renovated multifamily property near downtown San Antonio and Pearl Brewery.
Property Size10,926 SF
Lot Size0.42 Acres
Price / SF$160.17
Days on Market137
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
Building Details
- Year Built
- 1963
Listing Agency
Caisson Real Estate Brokerage, LLC
(210) 789-8841
Listed by
Jonathon Webster · License #TX #771633
(210) 789-8841
Source
Caissonre
Added: Mar 5 Updated: Jul 6 at 10:35 am Checked: Jul 20 at 3:43 am
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 Brokerage, LLC
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
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 | $216.3k | $19.80 |
| − Vacancy | −$13.4k | −$1.23 |
| EGI | $202.9k | $18.57 |
| − OpEx | −$91.3k | −$8.36 |
| NOI | $111.6k | $10.21 |
10,926 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
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
