Four-Unit Multifamily
For Sale
$476,000
554 Dukeway, Universal City, TX 78148
Four-unit income property with separately metered electricity and a utility reimbursement system already in place.
Property Size4,672 SF
Price / SF$101.88
Days on Market9
Property Features for 554 Dukeway
General Information
Standard status
Active
Size
4,672 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Building Details
Year Built
1983
Listing Agency:
Real Broker, LLC
(210) 569-9008
Listed By:
Sterling Williams
Source:
Sarahildebrandaguilera
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 12:55PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 4,672 square feet and was built in 1983. Each residence has its own electric meter, while water service is shared across the property. A RUBS arrangement is in place to support utility reimbursement.
The property is in Universal City, near Randolph AFB, major highways, and retail destinations. Current rents are described as below-market, and the existing configuration supports either an owner-occupant arrangement with one unit retained or leasing the full property.
The property is in Universal City, near Randolph AFB, major highways, and retail destinations. Current rents are described as below-market, and the existing configuration supports either an owner-occupant arrangement with one unit retained or leasing the full property.
Key Highlights
- Four‑unit multifamily property in Universal City
- 4,672 square feet; built in 1983
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,784
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,680
$855.7K
Cap Rate 7%
$611,200
$611.2K
Cap Rate 9%
$475,378
$475.4K
Market Conditions
NOI Build-Up for 4,672 SF
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.
Gross rent
$84.1K $18.00/SF
− Vacancy
−$6.3K −$1.35/SF
EGI
$77.8K $16.65/SF
− OpEx
−$35.0K −$7.49/SF
NOI
$42.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,680
Cap Rate 7%
$611,200
Cap Rate 9%
$475,378
Alternative Uses
Best Use
Multifamily LT 5
$703.0K
$615.1K – $820.1K
NOI $49,208 @ 7.0% cap · market cap 10.34%
Second Best
Apartment 5plus
$611.2K
$534.8K – $713.1K
NOI $42,784 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,515 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 78148, TX
21,569
Population
8,597
Households
2.5
Avg Household Size
37
Median Age
34%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
2,247
Density / Sq Mi
$75,395
Median Household Income
$40,850
Median Earnings
$1,252
Median Rent
$249,400
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?
Quadplex - Four-unit income property with separately metered electricity and a utility reimbursement system already in place.
Where is this quadplex located?
The property is located at 554 Dukeway Universal City, TX.
What is the asking price?
The asking price for this property is $476,000.
What are key features of this property?
This property features: Four‑unit multifamily property in Universal City; 4,672 square feet; built in 1983; Separate electric meters for each unit
