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3221 N Flores St
San Antonio, TX 78212
Alta Vista Multifamily · Multifamily Property For Sale
·
6 Units
Investment Highlights
- In ground swimming pool and courtyard
- Great Alta Vista location close to downtown
Executive Summary
6-unit multifamily value-add opportunity in Alta Vista, offered at $950,000 ($235/SF). The property totals 4,039 SF on 0.29 acres, built in 1926, with two stories, a central courtyard, in-ground pool, and on-site parking — amenities that command rent premiums in this submarket once stabilized.
Current in-place rent is $4,300/month across three occupied month-to-month units, all at below-market rates, leaving immediate rent-growth on the table. One unit is occupied at no cost, one 2BR/1BA is mid-construction and will transfer to the new owner for completion, and a sixth unit remains available for optimization. There are no long-term leases encumbering the asset — a clean reset for a new operator.
The property is zoned R-6 CD NCD-2 and sits along N Flores with strong accessibility to downtown San Antonio, The Pearl district, and major employment corridors. Walk Score 68, Transit Score 50.
Offered as an estate sale. Cash, conventional, and investor financing terms accepted. This is a repositioning play with multiple value-creation paths: rent optimization, completion of existing construction, light renovation, and professional management. Priced below the $634K tax-assessed value adjusted for upside — not a stabilized-asset price.
Current in-place rent is $4,300/month across three occupied month-to-month units, all at below-market rates, leaving immediate rent-growth on the table. One unit is occupied at no cost, one 2BR/1BA is mid-construction and will transfer to the new owner for completion, and a sixth unit remains available for optimization. There are no long-term leases encumbering the asset — a clean reset for a new operator.
The property is zoned R-6 CD NCD-2 and sits along N Flores with strong accessibility to downtown San Antonio, The Pearl district, and major employment corridors. Walk Score 68, Transit Score 50.
Offered as an estate sale. Cash, conventional, and investor financing terms accepted. This is a repositioning play with multiple value-creation paths: rent optimization, completion of existing construction, light renovation, and professional management. Priced below the $634K tax-assessed value adjusted for upside — not a stabilized-asset price.
Property Facts
| Price Per Unit | $220,126 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.40% | Lot Size | 0.29 AC |
| Sale Condition | High Vacancy Property | Building Size | 4,039 SF |
| Gross Rent Multiplier | 18.4 | Average Occupancy | 50% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Zoning | R-6 - R-6 Multifamily Residential | Conditional District | Alta Vista Historic Neighborhood Conservation District (NCD-2) | ||
| Price Per Unit | $220,126 CAD |
| Sale Type | Investment |
| Cap Rate | 3.40% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 18.4 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,039 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 1.49/1,000 SF |
| Zoning | R-6 - R-6 Multifamily Residential | Conditional District | Alta Vista Historic Neighborhood Conservation District (NCD-2) |
Amenities
Site Amenities
- Courtyard
- Pool
- Vintage Building
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 1+1 | 4 | - | - |
Property Taxes
| Parcel Number | 01800-008-0080 | Improvements Assessment | $602,599 CAD |
| Land Assessment | $278,916 CAD | Total Assessment | $688,399 CAD |
Property Taxes
Parcel Number
01800-008-0080
Land Assessment
$278,916 CAD
Improvements Assessment
$602,599 CAD
Total Assessment
$688,399 CAD
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