Four-Unit Multifamily
New
For Sale
$390,000
RÃo Piedras, San Juan, PR 00927
House, RÃo Piedras, San Juan, PR
Property Size1,600 SF
Lot Size0.01 Acres
Price / SF$243.75
Days on Market5
Property Features for RÃo Piedras
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 4, Bathroom 1
Parking
3
Parking features
Open
Interior features
Partial electric plant
Exterior features
Shopping Nearby, Recreation Nearby, Pets Allowed (less than 20 lbs), Water Connection, View-Street, Quiet Area, Pets Allowed (more than 20 lbs)
Lot features
Garden, Terrace, Porch
Directions
18.40282026 -66.0900106
Subdivision
University Gardens (Urbanizacion)
Standard status
Active
Size
1,600 SF
Lot size
0.01 Acres
Amenities
23 kW generator
Building Details
Year built
1960
Listing Agency:
RE/MAX Classic PR · RE/MAX International
(939) 599-2500
Listed By:
Juan Enrique Cruz
(939) 319-5200
Added: Aug 24
Last Checked: Aug 28 at 11:06PM
MLS# 64934
Copyright © 2026 Xposure. 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 R-1-zoned multifamily property contains four independent residences within approximately 1,600 square feet. Each unit is configured with one bedroom, one bathroom, a living area, dining space, and kitchen. The property was built in 1960 and includes a 23 kW generator for backup electrical service.
Additional features include an open parking area, water connection, and a 553 m2 lot. The property is situated near universities, hospitals, and shopping centers, with access to major roads and expressways. Recreation and shopping amenities are also identified nearby.
Additional features include an open parking area, water connection, and a 553 m2 lot. The property is situated near universities, hospitals, and shopping centers, with access to major roads and expressways. Recreation and shopping amenities are also identified nearby.
Key Highlights
- Four independent residential units, each with 1 bedroom and 1 bathroom
- Approximately 1,600 square feet of total property size
- 23 kW generator provides backup electrical service
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
$16,355
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
4.19%
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%
$327,100
$327.1K
Cap Rate 7%
$233,643
$233.6K
Cap Rate 9%
$181,722
$181.7K
Market Conditions
NOI Build-Up for 1,600 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
$24.5K $15.30/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$23.4K $14.60/SF
− OpEx
−$7.0K −$4.38/SF
NOI
$16.4K $10.22/SF
Area
San Juan, PR
Vacancy
4.56%
Lease Rate
$15.30 /SF/Yr
Expense Ratio
30.00%
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%
$327,100
Cap Rate 7%
$233,643
Cap Rate 9%
$181,722
Alternative Uses
Best Use
Multifamily LT 5
$233.6K
$204.4K – $272.6K
NOI $16,355 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$203.5K
$178.0K – $237.4K
NOI $14,242 @ 7.0% cap · market cap 3.65%
Theoretical Best
Specialty Retail
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Demographics for 00927, PR
14,297
Population
7,525
Households
1.9
Avg Household Size
48
Median Age
65%
College-Educated
94%
High-School Grad
2.4 sq mi
ZIP Area
5,957
Density / Sq Mi
$39,838
Median Household Income
$27,886
Median Earnings
$543
Median Rent
$223,000
Median Home Value
Market
Vacancy Rate% for Multifamily in the U.S.
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - R-1-zoned multifamily property with four independent residences and backup power equipment.
Where is this quadplex located?
The property is located at RÃo Piedras San Juan, PR.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four independent residential units, each with 1 bedroom and 1 bathroom; Approximately 1,600 square feet of total property size; 23 kW generator provides backup electrical service
