San Antonio Multifamily Investment
602 Chauncey Drive, San Antonio, TX 78216
Six-unit multifamily property with value-add potential in San Antonio.
Type:MF
Property size:
6,432 SFPrice / SF:
$116/SF- Added:
- May 8, 2026
- Days on Market:
- 23
- Last Refresh:
- May 18 at 11:38 am
Property Features for 602 Chauncey Drive
General Information
- Standard status
- Active
- Size
- 6,432 SF
- Property subtype
- MF
Building Details
- Year Built
- 1982
Listing agent Patricia Chavez License #498385 (210) 264-2087
Listing office KW Commercial Keller Williams Realty Heritage (210) 264-2087
Listing date May 8, 2026
Source Realnex
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 KW Commercial Keller Williams Realty Heritage
HighLights
- Stabilized 6‑unit multifamily property in North Central San Antonio.
- Value‑add potential through rent growth, utility reimbursement (RUBS), laundry income, and operational improvements.
- Reported 2025 NOI of $40,271.85.
- Desirable unit mix: five 2‑bedroom/2‑bath units and one 1‑bedroom/1‑bath unit.
- Separate electric meters for each unit.
- On‑site utility/laundry room with coin‑operated washers and dryers.
Overview
Located in North Central San Antonio, 602 Chauncey Drive presents a multifamily investment opportunity featuring six units. Constructed in 1982 and zoned MF-33, the property includes two buildings. Building 1 encompasses approximately 4,200 square feet, while Building 2 offers approximately 2,232 square feet, totaling approximately 6,432 square feet. The unit mix consists of five 2-bedroom/2-bath units and one 1-bedroom/1-bath unit. The property benefits from long-term tenants and separate electric meters. A large shared tenant storage room is available, along with an on-site utility/laundry room equipped with several coin-operated washers and dryers. The landlord currently covers water expenses, presenting a potential opportunity for future upside through RUBS implementation at lease renewal. The reported 2025 Net Operating Income (NOI) is $40,271.85, with additional upside potential achievable through rent growth, utility reimbursement, laundry income, and operational improvements. This asset offers investors a stabilized multifamily property with value-add potential in an established San Antonio rental submarket.
Local Financial Insights For Apartment 5plus
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 | $127.4k | $19.80 |
| − Vacancy | −$7.9k | −$1.23 |
| EGI | $119.5k | $18.57 |
| − OpEx | −$53.8k | −$8.36 |
| NOI | $65.7k | $10.21 |
6,432 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$938.6K
$821.3K – $1.10M
NOI $65,702 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.91M
NOI $114,849 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- San Antonio
- County
- Comal
- State
- Texas
- Longitude
- -98.5012305
- Latitude
- 29.5493422
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with value-add potential in San Antonio.
Where is this apartment building located?
The property is located at 602 Chauncey Drive San Antonio, TX.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Stabilized 6‑unit multifamily property in North Central San Antonio.; Value‑add potential through rent growth, utility reimbursement (RUBS), laundry income, and operational improvements.; Reported 2025 NOI of $40,271.85.
