1930s Fourplex with Covered
For Sale
$598,000
340 Natalen, San Antonio, TX 78209
Four one-bedroom units include laundry hookups, period details, and assigned covered parking.
Property Size3,316 SF
Price / SF$180.34
Days on Market22
Property Features for 340 Natalen
General Information
Standard status
Active
Size
3,316 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
deferred maintenance
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Parking per Unit
1
Amenities
washer and dryer hookups
covered parking
Building Details
Year Built
1936
Listing Agency:
Sophus Properties, LLC
(210) 850-2833
Listed By:
Donna Crabtree · License #512451
Source:
Sarahildebrandaguilera
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 25 at 5:25AM
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 Sophus Properties, LLC
Investment Insights
Based on property information with market context.
This fourplex at 340 Natalen in San Antonio contains four one-bedroom, one-bath residences within a 3,316-square-foot property constructed in 1936. Each unit has washer and dryer hookups, a distinct floor plan, and architectural details associated with the 1930s. Covered parking is provided onsite, with one designated space allocated to each residence.
The property is in Mahncke Park, a historic rental area identified in the listing. Deferred maintenance and cosmetic updating are noted, while interior photographs represent the units during their most recent vacancy. The four-unit configuration and existing parking provide a clear physical framework for continued multifamily use.
The property is in Mahncke Park, a historic rental area identified in the listing. Deferred maintenance and cosmetic updating are noted, while interior photographs represent the units during their most recent vacancy. The four-unit configuration and existing parking provide a clear physical framework for continued multifamily use.
Key Highlights
- Four one‑bedroom, one‑bath units
- 3,316 SF fourplex built in 1936
- One designated covered parking space per unit
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
$38,167
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
6.38%
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%
$763,340
$763.3K
Cap Rate 7%
$545,243
$545.2K
Cap Rate 9%
$424,078
$424.1K
Market Conditions
NOI Build-Up for 3,316 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
$57.7K $17.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$54.5K $16.44/SF
− OpEx
−$16.4K −$4.93/SF
NOI
$38.2K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$763,340
Cap Rate 7%
$545,243
Cap Rate 9%
$424,078
Alternative Uses
Best Use
Multifamily LT 5
$545.2K
$477.1K – $636.1K
NOI $38,167 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$483.9K
$423.4K – $564.5K
NOI $33,872 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$845.9K
$740.1K – $986.8K
NOI $59,210 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 78209, TX
42,456
Population
22,771
Households
1.9
Avg Household Size
40
Median Age
62%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
4,162
Density / Sq Mi
$84,180
Median Household Income
$57,921
Median Earnings
$1,371
Median Rent
$497,500
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?
Quadplex - Four one-bedroom units include laundry hookups, period details, and assigned covered parking.
Where is this quadplex located?
The property is located at 340 Natalen San Antonio, TX.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 3,316 SF fourplex built in 1936; One designated covered parking space per unit
