Furnished Three-Bedroom Triplex
488 E Olmos Unit 3, Olmos Park, TX 78212
For Sale
Contact for pricing
Remodeled interiors include a separate office setup, in-unit laundry, and covered parking.
Property Size1,178 SF
Price / SF$2.54
Days on Market90
Property Features for 488 E Olmos Unit 3
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Furnished
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
Davidson Properties, Inc.
Listed By:
Lysa Hamer
(210) 826-1616
Source:
Realestateties
Added: Aug 12
Changed: Nov 7
Last Checked: Nov 8 at 4:04PM
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 Davidson Properties, Inc.
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Investment Insights
Based on property information with market context.
This furnished triplex residence offers three bedrooms and one and a half bathrooms across 1,178 square feet. The interior was remodeled in 2020, with refinished hardwood floors, recessed lighting, plantation shutters, and a kitchen fitted with stainless steel appliances, new cabinetry, an island, and granite counters. The third bedroom is arranged as a home office, and a stacked washer and dryer occupy a laundry closet. The bathroom includes a tub and shower with a granite vanity.
A rear kitchen exit leads to a patio and a sidewalk connection to the carport. The property also has a fenced, gated yard and two assigned covered parking spaces. The address is in Olmos Park, with shopping and restaurants at Olmos Park Circle described as within walking distance; Downtown, the airport, and The Pearl are minutes away. The residence is in Alamo Heights ISD.
A rear kitchen exit leads to a patio and a sidewalk connection to the carport. The property also has a fenced, gated yard and two assigned covered parking spaces. The address is in Olmos Park, with shopping and restaurants at Olmos Park Circle described as within walking distance; Downtown, the airport, and The Pearl are minutes away. The residence is in Alamo Heights ISD.
Key Highlights
- Three bedrooms and 1.5 bathrooms in 1,178 square feet
- Interior and exterior remodel completed in 2020
- Island kitchen with stainless steel appliances, new cabinetry, and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,788
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,760
$215.8K
Cap Rate 7%
$154,114
$154.1K
Cap Rate 9%
$119,867
$119.9K
Market Conditions
NOI Build-Up for 1,178 SF
Gross rent
$21.2K $18.00/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$19.6K $16.65/SF
− OpEx
−$8.8K −$7.49/SF
NOI
$10.8K $9.16/SF
Area
Bexar County, TX
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,760
Cap Rate 7%
$154,114
Cap Rate 9%
$119,867
Alternative Uses
Best Use
Apartment 5plus
$154.1K
$134.9K – $179.8K
NOI $10,788 @ 7.0% cap · market cap 360.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.8K
$279.0K – $372.0K
NOI $22,318 @ 7.0% cap · market cap 745.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,104
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
$299,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Bexar County, TX
Properties on Market for Residential income properties in Bexar County
Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled interiors include a separate office setup, in-unit laundry, and covered parking.
Where is this residential income property located?
The property is located at 488 E Olmos Unit 3 Olmos Park, TX.
What are key features of this property?
This property features: Three bedrooms and 1.5 bathrooms in 1,178 square feet; Interior and exterior remodel completed in 2020; Island kitchen with stainless steel appliances, new cabinetry, and granite countertops
