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    San Antonio Multifamily Investment Opportunity Title is generated by Realmo AI

    926/930 Drury Lane, San Antonio, TX 78221

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    Claim this Listing
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    For Sale
    $1,199,989

    MULTI_FAMILY - San Antonio, TX

    Property size:
    6,528 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $183/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 3:06 pm

    Property Features for 926/930 Drury Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MF-33
    Standard status
    Active
    Size
    6,528 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Annual Amount
    16020

    Building Details

    Year built
    2006

    We can help!

    Listing Contact
    Uri Uriah
    Uri Uriah

    Listing agent Uri Uriah License #9002555

    Listing office Uriah Real Estate Organization 3000 W IH 10, San Antonio, TX

    Listing date May 29, 2026

    MLS# 1971114 Listing URL

    Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Attractive 6.5% cap rate offers strong investment potential.
    • Stabilized 8‑unit apartment community built in 2006, indicating modern construction.
    • Excellent condition with recent upgrades including a new roof (September 2025) and fresh exterior paint (September 2025).
    • Low‑maintenance xeriscaped grounds minimize landscaping costs and effort.
    • All units are 2‑bedroom/1‑bathroom with individual central HVAC, and separately metered for electric and water.
    • Strategically located near major employers and educational institutions ensuring consistent rental demand.

    Overview

    The property at 926/930 Drury Lane is an 8-unit apartment community situated on approximately 0.32 acres in San Antonio, TX 78221. The property consists of two well-maintained buildings constructed in 2006. The buildings feature exclusively 2-bedroom/1-bathroom units, each with approximately 816 square feet, totaling 6,528 square feet of rentable area. The property is in exceptional condition, featuring a new Owens Corning algae-resistant laminate architectural composite shingle roof (September 2025), new water heaters in select units, a freshly painted exterior (September 2025), and professionally xeriscaped grounds requiring virtually zero lawn maintenance. Each unit is separately metered for electric and water and includes an individual central HVAC system. Strategically located minutes from Lackland AFB, Port San Antonio, Palo Alto College, and Texas A&M San Antonio, the property benefits from strong, diverse rental demand within one of San Antonio's most active employment corridors. The property is offered at an attractive 6.5 cap rate.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $129.3k $19.80
    − Vacancy −$8.0k −$1.23
    EGI $121.2k $18.57
    − OpEx −$54.6k −$8.36
    NOI $66.7k $10.21
    6,528 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $952.6K
    $833.5K – $1.11M (±1% cap)
    NOI $66,682 @ 7.0% cap · market cap 5.56%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.67M
    $1.46M – $1.94M (±1% cap)
    NOI $116,563 @ 7.0% cap · market cap 9.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Antonio
    County
    Comal
    State
    Texas
    Longitude
    -98.519119
    Latitude
    29.34735

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    FAQs

    What type of property is this?
    Apartment building - Stabilized 8-unit apartment community near Lackland AFB.
    Where is this apartment building located?
    The property is located at 926/930 Drury Lane San Antonio, TX.
    What is the asking price?
    The asking price for this property is $1,199,989.
    What are key features of this property?
    This property features: Attractive 6.5% cap rate offers strong investment potential.; Stabilized 8‑unit apartment community built in 2006, indicating modern construction.; Excellent condition with recent upgrades including a new roof (September 2025) and fresh exterior paint (September 2025).
    (210) 315-8885
    We can help!
    Listing Contact
    Uri Uriah
    Uri Uriah
    Real Estate License ID: 9002555
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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