10-Unit Multifamily
For Sale
$674,990
402 Mulberry, San Antonio, TX 78212
MULTI_FAMILY - San Antonio, TX
Property Size4,320 SF
Lot Size0.10 Acres
Price / SF$156.25
Days on Market36
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
(210) 493-3030
Listed By:
Scott Malouff · License #658231
(210) 493-3030
Added: Jun 30
Changed: Jul 21
Last Checked: Aug 4 at 4:06PM
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.
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes 10 individual units configured as one-bedroom, one-bath residences. The building is approximately 4,320 square feet on a 0.103-acre lot, and it is being offered with condition that will likely require renovation and general updates (“TLC”). For an investor or operator with a renovation plan, the unit mix and count provide a straightforward framework for repositioning.
The property is located at 402 Mulberry in San Antonio, TX 78212 (Bexar County). Public remarks indicate the building sits near Downtown San Antonio and San Antonio College, placing it within the broader activity of the downtown area and the surrounding tenant pool tied to the college.
From an ownership standpoint, this asset is best suited to buyers who want to take on interior improvements and manage an operation around a 10-unit residential layout. With a full set of one-bedroom, one-bath units already in place, it offers an immediate path for investors, flippers, or hands-on operators to implement upgrades, refine unit finishes, and pursue stabilized occupancy through active management. Bring your team and renovation vision to match the building’s current needs.
The property is located at 402 Mulberry in San Antonio, TX 78212 (Bexar County). Public remarks indicate the building sits near Downtown San Antonio and San Antonio College, placing it within the broader activity of the downtown area and the surrounding tenant pool tied to the college.
From an ownership standpoint, this asset is best suited to buyers who want to take on interior improvements and manage an operation around a 10-unit residential layout. With a full set of one-bedroom, one-bath units already in place, it offers an immediate path for investors, flippers, or hands-on operators to implement upgrades, refine unit finishes, and pursue stabilized occupancy through active management. Bring your team and renovation vision to match the building’s current needs.
Key Highlights
- 10‑unit multifamily property built in 1931
- Ten 1‑bedroom, 1‑bath units
- Listed for investors, flippers, and cash‑flow buyers with a property needing TLC
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 | $85.5k | $19.80 |
| − Vacancy | −$5.3k | −$1.23 |
| EGI | $80.2k | $18.57 |
| − OpEx | −$36.1k | −$8.36 |
| NOI | $44.1k | $10.21 |
4,320 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$630.4K
$551.6K – $735.5K
NOI $44,128 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$964.2K – $1.29M
NOI $77,137 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
946
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
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 - Ten 1BR/1BA units with room for renovation in San Antonio’s 78212 area.
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 $674,990.
What are key features of this property?
This property features: 10‑unit multifamily property built in 1931; Ten 1‑bedroom, 1‑bath units; Listed for investors, flippers, and cash‑flow buyers with a property needing TLC
