Renovated Triplex Near Downtown San
940 W Mulberry, San Antonio, TX 78201
New
MULTI_FAMILY - San Antonio, TX
Property size:
2,977 SFLot size:
0.18 AcresPrice / SF:
$189/SF- Added:
- May 24, 2026
- Days on Market:
- 3
- Last Refresh:
- May 26 at 2:06 pm
Property Features for 940 W Mulberry
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,977 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9610
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1930
Listing agent Allison Mccarroll (210) 581-9050
Listing office JB Goodwin, REALTORS 607 E Sonterra Blvd. Ste # 108, San Antonio, TX (210) 581-9050
Listing date May 24, 2026
MLS# 1969656
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
- Turnkey, fully renovated triplex offering immediate rental income or owner‑occupancy potential.
- Prime location with easy access to major highways (I‑10, I‑35, US‑281) and close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, and popular restaurants/bars.
- Spacious first‑level unit with 2 bedrooms, 2 bathrooms, modernized kitchen, and generous closet space.
- Two additional one‑bedroom, one‑bathroom units, each with updated kitchens, stylish bathrooms, and private balconies.
- Gorgeous wood flooring throughout the property.
- Detached shared laundry room and 2‑car garage.
Overview
This fully renovated triplex presents a rare investment opportunity, blending historic charm with modern updates. The property features wood flooring throughout. The first-level unit includes two bedrooms, two bathrooms, a large living area, a modernized kitchen, and closet space. Upstairs, there are two one-bedroom, one-bathroom units, each with updated kitchens, comfortable living areas, stylish bathrooms, and private balconies. A detached shared laundry room is located off of the two-car garage. Situated in a prime location, the property offers easy access to I-10, I-35, and US-281. It is also in close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, local parks, and popular restaurants and bars. The lot size is 0.178 acres and the property size is 2977 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$380.7K
NOI $34,266 @ 9.00% cap · cautious / downside scenario
Moderate
$489.5K
NOI $34,266 @ 7.00% cap · market / base-case scenario
Aggressive
$685.3K
NOI $34,266 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.8k | $17.40 |
| − Vacancy | −$2.8k | −$0.96 |
| EGI | $49.0k | $16.44 |
| − OpEx | −$14.7k | −$4.93 |
| NOI | $34.3k | $11.51 |
2,977 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$489.5K
$428.3K – $571.1K
NOI $34,266 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$434.4K
$380.1K – $506.8K
NOI $30,410 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$759.4K
$664.5K – $886.0K
NOI $53,157 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- San Antonio
- County
- Comal
- State
- Texas
- Longitude
- -98.509519
- Latitude
- 29.456462
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Turnkey triplex with modern updates, close to downtown.
Where is this triplex located?
The property is located at 940 W Mulberry San Antonio, TX.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Turnkey, fully renovated triplex offering immediate rental income or owner‑occupancy potential.; Prime location with easy access to major highways (I‑10, I‑35, US‑281) and close proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, and popular restaurants/bars.; Spacious first‑level unit with 2 bedrooms, 2 bathrooms, modernized kitchen, and generous closet space.
