Renovated Triplex Near Downtown San
940 West Mulberry Avenue, San Antonio, TX 78201
Turnkey triplex with modern updates and prime location.
Type:Multi-Family / Two Story
Property size:
2,977 SFPrice / SF:
$189/SF- Added:
- May 21, 2026
- Days on Market:
- 13
- Last Refresh:
- May 27 at 8:40 am
Property Features for 940 West Mulberry Avenue
General Information
- Standard status
- Active
- Size
- 2,977 SF
- Property subtype
- Multi-Family / Two Story
Building Details
- Year Built
- 1930
Listing agent Allison McCarroll (210) 744-4600
Listing office JB Goodwin, REALTORS (210) 744-4600
Listing date May 21, 2026
Source Compass
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 JB Goodwin, REALTORS
HighLights
- Turnkey triplex: Fully renovated and ready for immediate occupancy or rental.
- Excellent investment opportunity: Ideal for investors or owner‑occupants seeking rental income.
- Prime location: Easy access to major highways and close to downtown, The Pearl, Medical Center, Woodlawn Lake, and popular amenities.
- Three units: One spacious 2‑bedroom, 2‑bathroom unit and two 1‑bedroom, 1‑bathroom units.
- Updated kitchens and stylish bathrooms in all units.
- Private balconies for each of the upstairs units.
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 and 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. The property is located near I-10, I-35, and US-281, with proximity to downtown, The Pearl, the Medical Center, Woodlawn Lake, local parks, and restaurants and bars. The property size is 2977 square feet. This property is suitable for investors or owner-occupants looking to live in one unit while renting out the others.
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
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.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- San Antonio
- County
- Comal
- State
- Texas
- Longitude
- -98.509526
- Latitude
- 29.4564665
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Turnkey triplex with modern updates and prime location.
Where is this triplex located?
The property is located at 940 West Mulberry Avenue 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 triplex: Fully renovated and ready for immediate occupancy or rental.; Excellent investment opportunity: Ideal for investors or owner‑occupants seeking rental income.; Prime location: Easy access to major highways and close to downtown, The Pearl, Medical Center, Woodlawn Lake, and popular amenities.
