Four-Unit Multifamily
For Sale
$345,000
765 Fulton, San Antonio, TX 78212
Residential income property with four units near downtown and public transportation in San Antonio’s Beacon Hill neighborhood.
Property Size3,080 SF
Price / SF$112.01
Days on Market9
Property Features for 765 Fulton
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Year Built
1916
Listing Agency:
Keller Williams Heritage
(210) 867-9921
Listed By:
Wayne Ramirez
Source:
Theswinneygroup
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 31 at 6:39PM
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.
This fourplex at 765 Fulton offers four residential units within a 3,080-square-foot property built in 1916. The unit layout is described as functional and designed for residential occupancy, with the property positioned for rental use.
Located in San Antonio’s Beacon Hill neighborhood, the property is near downtown and public transportation options. The setting combines access to urban amenities with an established residential environment. The address is 765 Fulton, San Antonio, TX 78212.
Located in San Antonio’s Beacon Hill neighborhood, the property is near downtown and public transportation options. The setting combines access to urban amenities with an established residential environment. The address is 765 Fulton, San Antonio, TX 78212.
Key Highlights
- Four‑unit quadplex at 765 Fulton, San Antonio, TX 78212
- 3,080‑square‑foot multifamily property
- Built in 1916
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
$31,462
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
9.12%
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%
$629,240
$629.2K
Cap Rate 7%
$449,457
$449.5K
Cap Rate 9%
$349,578
$349.6K
Market Conditions
NOI Build-Up for 3,080 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
$61.0K $19.80/SF
− Vacancy
−$3.8K −$1.23/SF
EGI
$57.2K $18.57/SF
− OpEx
−$25.7K −$8.36/SF
NOI
$31.5K $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 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%
$629,240
Cap Rate 7%
$449,457
Cap Rate 9%
$349,578
Alternative Uses
Best Use
Multifamily LT 5
$506.4K
$443.1K – $590.9K
NOI $35,451 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$449.5K
$393.3K – $524.4K
NOI $31,462 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$785.7K
$687.5K – $916.6K
NOI $54,996 @ 7.0% cap · market cap 15.94%
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
1,107
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with four units near downtown and public transportation in San Antonio’s Beacon Hill neighborhood.
Where is this quadplex located?
The property is located at 765 Fulton San Antonio, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Four‑unit quadplex at 765 Fulton, San Antonio, TX 78212; 3,080‑square‑foot multifamily property; Built in 1916
