Back to Search
Renovated Triplex Near Downtown San Antonio

940 W Mulberry San Antonio, TX 78201

Claim this Listing
For Sale
$565,000

MULTI_FAMILY - San Antonio, TX

Property size:
2,977 SF
Lot size:
0.18 Acres
Price / SF:
$189.79/SF
Added:
May 24, 2026
Days on Market:
52
Last Refresh:
Jul 14 at 1:06 am

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

Listing office JB Goodwin, REALTORS 607 E Sonterra Blvd. Ste # 108, San Antonio, TX

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.


Investment Insights

Based on property information with market context.

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.

Key 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.

Local Financial Insights For Multifamily LT 5

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 $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 Uses

Best Use
Multifamily LT 5
$489.5K
$428.3K – $571.1K (±1% cap)
NOI $34,266 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$434.4K
$380.1K – $506.8K (±1% cap)
NOI $30,410 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$759.4K
$664.5K – $886.0K (±1% cap)
NOI $53,157 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Dental Office Real Estate Agency (Bike/Boat/Book/etc) Store Pet Grooming Service Butcher (Bike/Boat/Book/etc) Store Acupuncture Pet Store Pet Store & Service Computer & Electronic Repair

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

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.
Contact an agent
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message