10-Unit Apartment
For Sale
$659,999
402 Mulberry, San Antonio, TX 78212
Multi-Family (2-8 Units), San Antonio, TX
Property Size4,320 SF
Lot Size0.10 Acres
Price / SF$152.78
Days on Market121
Property Features for 402 Mulberry
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Cotton
Middle school
Mark Twain
High school
Edison
Elementary school district
San Antonio I.S.D.
Middle school district
San Antonio I.S.D.
High school district
San Antonio I.S.D.
Subdivision
0900
Standard status
Active
Size
4,320 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
0
Building Details
Year built
1931
Listing Agency:
Keller Williams Heritage · Keller Williams Realty
Listed By:
Scott Malouff
(210) 493-3030
Added: Jun 30
Changed: Aug 25
Last Checked: Oct 28 at 2:06AM
MLS# 1990073
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1931, this apartment property contains 10 one-bedroom, one-bath units within approximately 4,320 square feet. The 0.103-acre site and existing multifamily configuration provide a defined residential income asset, while the property requires TLC and renovation work.
The property is located near Downtown San Antonio and San Antonio College at 402 Mulberry, San Antonio, TX 78212. Its unit mix, established construction date, and central San Antonio setting create a clear foundation for a renovation-focused multifamily project.
The property is located near Downtown San Antonio and San Antonio College at 402 Mulberry, San Antonio, TX 78212. Its unit mix, established construction date, and central San Antonio setting create a clear foundation for a renovation-focused multifamily project.
Key Highlights
- 10 total apartment units
- Unit mix includes ten 1‑bedroom, 1‑bath units
- Approximately 4,320 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,128
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$882,560
$882.6K
Cap Rate 7%
$630,400
$630.4K
Cap Rate 9%
$490,311
$490.3K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$85.5K $19.80/SF
− Vacancy
−$5.3K −$1.23/SF
EGI
$80.2K $18.57/SF
− OpEx
−$36.1K −$8.36/SF
NOI
$44.1K $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%
$882,560
Cap Rate 7%
$630,400
Cap Rate 9%
$490,311
Alternative Uses
Best Use
Apartment 5plus
$630.4K
$551.6K – $735.5K
NOI $44,128 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.2K – $1.29M
NOI $77,137 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Ten one-bedroom, one-bath residences near Downtown San Antonio and San Antonio College require renovation work.
Where is this apartment building located?
The property is located at 402 Mulberry San Antonio, TX.
What is the asking price?
The asking price for this property is $659,999.
What are key features of this property?
This property features: 10 total apartment units; Unit mix includes ten 1‑bedroom, 1‑bath units; Approximately 4,320 square feet of property size
