Multifamily Assemblage with Redevelopment
For Sale
$1,375,000
641 E Ashby Pl, San Antonio, TX 78212
Three parcels offer existing rental operations alongside a redevelopment framework subject to city review.
Property Size6,228 SF
Lot Size0.49 Acres
Price / SF$220.78
Days on Market52
Property Features for 641 E Ashby Pl
General Information
Standard status
Active
Size
6,228 SF
Lot size
0.49 Acres
Property subtype
Commercial
Financials
Asking Price
$1,500,000
Gross Income
$74,340
Additional Details
Multifamily Units
7
Building Details
Year Built
1925
Listing Agency:
Phyllis Browning Company
(210) 509-4911
Listed By:
David Abrahams (dabrahams@phyllisbrowning.com) · License #719953
(210) 824-7878
Source:
Sanantoniosfinestrealty
Added: Aug 29
Changed: Oct 12
Last Checked: Oct 19 at 6:17AM
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 Phyllis Browning Company
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Investment Insights
Based on property information with market context.
This multifamily assemblage combines three parcels totaling 0.493 acres with 6,228 square feet of existing improvements. The property contains seven units, with five occupied and two vacant units at 631 E Ashby Pl available for lease-up or future planning. Current operations generate in-place gross rent, while the vacant units provide additional occupancy capacity.
Zoning varies across the assemblage: 631 is designated MF-33, while 635 and 641/643 are zoned R-6 and have an established duplex use that supports a rezoning request. Preliminary planning estimates 14–15 units at full build-out, subject to buyer confirmation with the City. The seller will convey all three parcels together and will not divide them.
The property is located in Tobin Hill North near N. St. Mary's St. and along the growth path toward the Pearl. The address is 641 E Ashby Pl, San Antonio, TX 78212, and the improvements date to 1925.
Zoning varies across the assemblage: 631 is designated MF-33, while 635 and 641/643 are zoned R-6 and have an established duplex use that supports a rezoning request. Preliminary planning estimates 14–15 units at full build-out, subject to buyer confirmation with the City. The seller will convey all three parcels together and will not divide them.
The property is located in Tobin Hill North near N. St. Mary's St. and along the growth path toward the Pearl. The address is 641 E Ashby Pl, San Antonio, TX 78212, and the improvements date to 1925.
Key Highlights
- 0.493‑acre, 3‑parcel multifamily assemblage
- 6,228 SF of existing improvements built in 1925
- Seven units total; 5 occupied and 2 vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,618
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,272,360
$1.3M
Cap Rate 7%
$908,829
$908.8K
Cap Rate 9%
$706,867
$706.9K
Market Conditions
NOI Build-Up for 6,228 SF
Gross rent
$123.3K $19.80/SF
− Vacancy
−$7.6K −$1.23/SF
EGI
$115.7K $18.57/SF
− OpEx
−$52.1K −$8.36/SF
NOI
$63.6K $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%
$1,272,360
Cap Rate 7%
$908,829
Cap Rate 9%
$706,867
Alternative Uses
Best Use
Apartment 5plus
$908.8K
$795.2K – $1.06M
NOI $63,618 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,206 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,285
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Three parcels offer existing rental operations alongside a redevelopment framework subject to city review.
Where is this multifamily property located?
The property is located at 641 E Ashby Pl San Antonio, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 0.493‑acre, 3‑parcel multifamily assemblage; 6,228 SF of existing improvements built in 1925; Seven units total; 5 occupied and 2 vacant
