Triplex with Three Separately Metered
531 W Gramercy Pl San Antonio, TX 78212
New
For Sale
$415,000
MULTI_FAMILY - San Antonio, TX
Property Size2,658 SF
Lot Size0.15 Acres
Price / SF$156.13
Days on Market4
Property Features for 531 W Gramercy Pl
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-4
- Standard status
- Active
- Size
- 2,658 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Annual Amount
- 10254
Building Details
- Year built
- 1925
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Carmela Hampton
(214) 202-7615
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 27 at 4:06AM
MLS# 2003017
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 triplex includes three separately metered units: two 1-bedroom, 1-bath units located downstairs and one 2-bedroom, 1-bath unit located upstairs. Two units are currently rented, and one vacant unit is ready for an owner-occupant or a new tenant. The property received fresh cosmetic updates in 2025.
Located in San Antonio under RM-4 zoning, the property sits on a 0.149-acre lot at 531 W Gramercy Pl, within minutes of Downtown San Antonio and the Pearl, as well as Trinity University and major employers.
The overall configuration provides a three-unit residential income setup with separately metered utilities, supporting flexible occupancy for investors or residents seeking to live in one unit while renting the others.
Located in San Antonio under RM-4 zoning, the property sits on a 0.149-acre lot at 531 W Gramercy Pl, within minutes of Downtown San Antonio and the Pearl, as well as Trinity University and major employers.
The overall configuration provides a three-unit residential income setup with separately metered utilities, supporting flexible occupancy for investors or residents seeking to live in one unit while renting the others.
Key Highlights
- 1925‑built triplex in the Alta Vista area with three separately metered units
- Unit mix: two 1‑bedroom, 1‑bath units downstairs and one 2‑bedroom, 1‑bath unit upstairs
- Two units currently rented; one vacant unit ready for an owner‑occupant or a new tenant
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 | $46.2k | $17.40 |
| − Vacancy | −$2.5k | −$0.96 |
| EGI | $43.7k | $16.44 |
| − OpEx | −$13.1k | −$4.93 |
| NOI | $30.6k | $11.51 |
2,658 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$437.1K
$382.4K – $509.9K
NOI $30,594 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.5K
NOI $27,151 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$678.0K
$593.3K – $791.0K
NOI $47,461 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex offering three separate units with two 1-bedroom units and one 2-bedroom unit.
Where is this triplex located?
The property is located at 531 W Gramercy Pl San Antonio, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 1925‑built triplex in the Alta Vista area with three separately metered units; Unit mix: two 1‑bedroom, 1‑bath units downstairs and one 2‑bedroom, 1‑bath unit upstairs; Two units currently rented; one vacant unit ready for an owner‑occupant or a new tenant
