Gated Quadplex with Updated
429 Palo Alto Drive Von Ormy, TX 78073
429 Palo Alto Drive, Von Ormy, TX, 78073
$450,000
For Sale
$450,000
Four casitas on a corner lot, with recently updated units and select appliances conveying.
Property Size2,872 SF
Price / SF$156.69
Days on Market194
Property Features for 429 Palo Alto Drive
General Information
- Standard status
- Active
- Size
- 2,872 SF
- Property subtype
- Multi-Family / One Story
Building Details
- Year Built
- 2021
Listing agency
JB Goodwin, REALTORS
(210) 852-7681
Listed by
Robyn Franklin
(210) 852-7681
Source
Compass
Added: Jan 9 Updated: Jul 21 at 7:56PM Checked: Jul 21 at 7:56PM
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 JB Goodwin, REALTORS
Investment Insights
Based on property information with market context.
This gated quadplex features four casitas on a corner lot. Several of the finished casitas have been recently updated and include in-unit washer, dryer, and a refrigerator that will convey with the property. A fourth casita is currently ready to be finished and made your own, and several additional items are expected to convey to help reduce replacement costs.
The property is positioned near major employment and institutional destinations, including the Toyota Manufacturing Plant, Texas A&M San Antonio, and major highways. University Health Palo Alto Hospital is also noted as under construction nearby.
With multiple separate casitas under one gated setting, the layout supports straightforward owner-occupant or income-focused use based on how you allocate the finished space versus the remaining casita opportunity.
The property is positioned near major employment and institutional destinations, including the Toyota Manufacturing Plant, Texas A&M San Antonio, and major highways. University Health Palo Alto Hospital is also noted as under construction nearby.
With multiple separate casitas under one gated setting, the layout supports straightforward owner-occupant or income-focused use based on how you allocate the finished space versus the remaining casita opportunity.
Key Highlights
- Four casitas on a corner lot, on nearly 3/4 of an acre
- Gated property with level site and mature trees
- Built in 2021; composition roofing and linoleum/vinyl flooring
Local Financial Insights For Multifamily LT 5
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 | $46.5k | $16.20 |
| − Vacancy | −$3.3k | −$1.15 |
| EGI | $43.2k | $15.05 |
| − OpEx | −$13.0k | −$4.51 |
| NOI | $30.2k | $10.53 |
2,872 SF · lease $16.20/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$432.1K
$378.1K – $504.2K
NOI $30,250 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$375.7K
$328.8K – $438.3K
NOI $26,300 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$777.3K
$680.2K – $906.9K
NOI $54,413 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four casitas on a corner lot, with recently updated units and select appliances conveying.
Where is this quadplex located?
The property is located at 429 Palo Alto Drive Von Ormy, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four casitas on a corner lot, on nearly 3/4 of an acre; Gated property with level site and mature trees; Built in 2021; composition roofing and linoleum/vinyl flooring
