4-Unit Multifamily
For Sale
$779,000
7239 Converse Ridge Ln, San Antonio, TX 78239
Four residential units feature private garage parking and contemporary interior finishes.
Property Size4,892 SF
Price / SF$159.24
Days on Market30
Property Features for 7239 Converse Ridge Ln
General Information
Standard status
Active
Size
4,892 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Multifamily Units
4
Parking per Unit
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2020
Listing Agency:
Keller Williams Heritage
(210) 493-3030
Listed By:
Sarah Clark
Source:
Theswinneygroup
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 30 at 8:56PM
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
Investment Insights
Based on property information with market context.
Built in 2020, this 4-unit multifamily property contains 4,892 square feet arranged across four residential units. Each unit includes garage parking, while the interiors are described with modern finishes and practical layouts suited to everyday residential use.
The property is identified in the source information as being near Randolph Air Force Base and major highways, with shopping, dining, employment centers, and other surrounding amenities also noted. Its four-unit configuration may support both traditional rental ownership and an owner-occupant strategy, as described in the property information.
The property is identified in the source information as being near Randolph Air Force Base and major highways, with shopping, dining, employment centers, and other surrounding amenities also noted. Its four-unit configuration may support both traditional rental ownership and an owner-occupant strategy, as described in the property information.
Key Highlights
- 4‑unit multifamily property totaling 4,892 square feet
- Built in 2020
- Garage parking provided 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
$56,307
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
7.23%
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%
$1,126,140
$1.1M
Cap Rate 7%
$804,386
$804.4K
Cap Rate 9%
$625,633
$625.6K
Market Conditions
NOI Build-Up for 4,892 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
$85.1K $17.40/SF
− Vacancy
−$4.7K −$0.96/SF
EGI
$80.4K $16.44/SF
− OpEx
−$24.1K −$4.93/SF
NOI
$56.3K $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%
$1,126,140
Cap Rate 7%
$804,386
Cap Rate 9%
$625,633
Alternative Uses
Best Use
Multifamily LT 5
$804.4K
$703.8K – $938.5K
NOI $56,307 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$713.9K
$624.6K – $832.9K
NOI $49,971 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,351 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 78239, TX
31,554
Population
10,639
Households
3
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
6.4 sq mi
ZIP Area
4,930
Density / Sq Mi
$71,455
Median Household Income
$36,235
Median Earnings
$1,401
Median Rent
$215,600
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 residential units feature private garage parking and contemporary interior finishes.
Where is this quadplex located?
The property is located at 7239 Converse Ridge Ln San Antonio, TX.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 4‑unit multifamily property totaling 4,892 square feet; Built in 2020; Garage parking provided for each unit
