Three-Unit Triplex with Fenced
For Sale
$599,000
538 W Elsmere, San Antonio, TX 78212
San Antonio, TX
Property Size3,747 SF
Price / SF$159.86
Days on Market118
Property Features for 538 W Elsmere
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2
Subdivision
ALTA VISTA
Elementary school
Beacon Hill
Middle school
Cotton
High school
Edison
Standard status
Active
Size
3,747 SF
Building Details
Year built
1930
Listing Agency:
Engel & Volkers Alamo Heights · Engel & Völkers
(210) 845-1008
Listed By:
Susan Sheffield
Added: Jun 12
Changed: Sep 16
Last Checked: Oct 7 at 9:06PM
MLS# 1963175
Copyright © 2026 Engel & Völkers. 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.
Built in 1930, this 3,747-square-foot triplex at 538 W. Elsmere includes three distinct residences. The main home spans two levels and offers four bedrooms, three bathrooms, a main-level sunroom, an upstairs loft, and a fenced yard. A separate upper-level flat contains three bedrooms and two bathrooms, while the remaining unit provides one bedroom and one bathroom.
The property is in San Antonio’s Beacon Hill historic district, with The Pearl, San Antonio College, and Downtown located minutes away. Its unit configuration includes a larger two-story residence, a multibedroom upstairs apartment, and a compact one-bedroom apartment within the same multifamily asset.
The property is in San Antonio’s Beacon Hill historic district, with The Pearl, San Antonio College, and Downtown located minutes away. Its unit configuration includes a larger two-story residence, a multibedroom upstairs apartment, and a compact one-bedroom apartment within the same multifamily asset.
Key Highlights
- Three‑unit triplex totaling 3747 Square Feet
- Unit 1 has 4 bedrooms, 3 bathrooms, a sunroom, loft, and fenced yard
- Unit 2 is an upstairs 3‑bedroom, 2‑bathroom flat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,128
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$862,560
$862.6K
Cap Rate 7%
$616,114
$616.1K
Cap Rate 9%
$479,200
$479.2K
Market Conditions
NOI Build-Up for 3,747 SF
Gross rent
$65.2K $17.40/SF
− Vacancy
−$3.6K −$0.96/SF
EGI
$61.6K $16.44/SF
− OpEx
−$18.5K −$4.93/SF
NOI
$43.1K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$862,560
Cap Rate 7%
$616,114
Cap Rate 9%
$479,200
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$546.8K
$478.4K – $637.9K
NOI $38,275 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$955.8K
$836.3K – $1.12M
NOI $66,906 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,037
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - San Antonio property includes a two-story residence, an upstairs flat, and a separate one-bedroom unit.
Where is this triplex located?
The property is located at 538 W Elsmere San Antonio, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 3747 Square Feet; Unit 1 has 4 bedrooms, 3 bathrooms, a sunroom, loft, and fenced yard; Unit 2 is an upstairs 3‑bedroom, 2‑bathroom flat
