Fourplex with Attached
For Sale
$725,000
6402 Luglio Ln, San Antonio, TX 78233
Gated fourplex with spacious three-bedroom units, private yards, and established property management.
Property Size5,448 SF
Price / SF$133.08
Days on Market32
Property Features for 6402 Luglio Ln
General Information
Standard status
Active
Size
5,448 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
gated community
private fenced backyard
Building Details
Year Built
2021
Listing Agency:
Watters International Realty
(512) 646-0038
Listed By:
Christopher Watters · License #0567369
Source:
Shebaramos
Added: Jul 31
Changed: Aug 31
Last Checked: Aug 30 at 8:25PM
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 Watters International Realty
Investment Insights
Based on property information with market context.
Built in 2021, this fourplex contains four residential units, each arranged with three bedrooms, two bathrooms, and an attached one-car garage. Interior details include tray ceilings with crown molding, granite kitchen counters, and black appliance packages with a range, dishwasher, microwave, and refrigerator. Ceramic tile covers the main level, while carpeted bedrooms are located upstairs. Each residence also includes its own fenced backyard.
The property is located within a gated community at 6402 Luglio Ln in San Antonio. Nearby retail and service destinations include The Forum at Olympia Parkway Shopping Center, Randolph Brooks Federal Credit Union, Target, IKEA, and Home Depot, along with restaurants and additional shopping centers. Property management is already in place.
The property is located within a gated community at 6402 Luglio Ln in San Antonio. Nearby retail and service destinations include The Forum at Olympia Parkway Shopping Center, Randolph Brooks Federal Credit Union, Target, IKEA, and Home Depot, along with restaurants and additional shopping centers. Property management is already in place.
Key Highlights
- Four units with three bedrooms and two bathrooms per residence
- Each unit includes an attached one‑car garage and private fenced backyard
- Built in 2021
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
$62,707
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
8.65%
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%
$1,254,140
$1.3M
Cap Rate 7%
$895,814
$895.8K
Cap Rate 9%
$696,744
$696.7K
Market Conditions
NOI Build-Up for 5,448 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
$94.8K $17.40/SF
− Vacancy
−$5.2K −$0.96/SF
EGI
$89.6K $16.44/SF
− OpEx
−$26.9K −$4.93/SF
NOI
$62.7K $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 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%
$1,254,140
Cap Rate 7%
$895,814
Cap Rate 9%
$696,744
Alternative Uses
Best Use
Multifamily LT 5
$895.8K
$783.8K – $1.05M
NOI $62,707 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$795.0K
$695.6K – $927.5K
NOI $55,650 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,278 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 78233, TX
49,442
Population
19,396
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
91%
High-School Grad
13.7 sq mi
ZIP Area
3,609
Density / Sq Mi
$73,729
Median Household Income
$41,817
Median Earnings
$1,456
Median Rent
$203,300
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 - Gated fourplex with spacious three-bedroom units, private yards, and established property management.
Where is this quadplex located?
The property is located at 6402 Luglio Ln San Antonio, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four units with three bedrooms and two bathrooms per residence; Each unit includes an attached one‑car garage and private fenced backyard; Built in 2021
