San Antonio Multifamily Investment
For Sale
$749,000
602 Chauncey Drive, San Antonio, TX 78216
Six-unit multifamily property with value-add potential in San Antonio.
Property Size6,432 SF
Price / SF$116.45
Days on Market164
Property Features for 602 Chauncey Drive
General Information
Standard status
Active
Size
6,432 SF
Property subtype
MF
Building Details
Year Built
1982
Listing Agency:
Keller Williams Heritage
Listed By:
Patricia Chavez · License #498385
(210) 264-2087
Source:
Realnex
Added: May 8
Changed: Jul 10
Last Checked: Oct 16 at 5:40AM
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 Keller Williams Heritage
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,702
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,314,040
$1.3M
Cap Rate 7%
$938,600
$938.6K
Cap Rate 9%
$730,022
$730.0K
Market Conditions
NOI Build-Up for 6,432 SF
Gross rent
$127.4K $19.80/SF
− Vacancy
−$7.9K −$1.23/SF
EGI
$119.5K $18.57/SF
− OpEx
−$53.8K −$8.36/SF
NOI
$65.7K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,314,040
Cap Rate 7%
$938,600
Cap Rate 9%
$730,022
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 78216, TX
40,172
Population
22,138
Households
1.8
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,849
Density / Sq Mi
$55,488
Median Household Income
$38,591
Median Earnings
$1,211
Median Rent
$281,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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.
