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Waverly Lake Multi-Family Units 1246 Waverly Ave 3 Unit Apartment Building $600,000 ($200,000/Unit) 9.46% Cap Rate San Antonio, TX 78201
Executive Summary
Live Mortgage-Free or Own a Turnkey Investment - 3 Private Units Near Woodlawn Lake Completely remodeled property features three separate, private units (all rehabbed in 2022), each with its own space and fencing. Ideal for an owner-occupant or an investor. Live in the front unit (~1,250 SF) and rent the two rear units (~800 SF each) to offset or fully cover your mortgage, or operate all three as income-producing rentals. Strong performance with ~87% occupancy and approximately $85K gross annual income. Two units are leased; the front unit is ready for short- or mid-term rental or owner occupancy. Zoned RM-4 (rare for the area), offering flexibility and future upside. No HOA. Prime location just 1 block from Woodlawn Lake and minutes from the Riverwalk and Pearl. Owner open to creative financing options. The adjacent lot is also available for expansion for $89,000 or buy everything together for $650,000. See Property website and financials - https://redkorr.my.canva.site/woodlawn-lake-waverly
Property Facts
| Price | $600,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $200,000 | Building Class | B |
| Sale Type | Investment | Building Size | 2,840 SF |
| Cap Rate | 9.46% | Average Occupancy | 87% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1946/2022 |
| Property Subtype | Apartment | ||
| Zoning | RM-4 - Zoned RM-4-an extraordinary rarity in this sought-after lakeside enclave-this property stands out as a prime investment | ||
| Price | $600,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 9.46% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Building Size | 2,840 SF |
| Average Occupancy | 87% |
| No. Stories | 1 |
| Year Built/Renovated | 1946/2022 |
| Zoning | RM-4 - Zoned RM-4-an extraordinary rarity in this sought-after lakeside enclave-this property stands out as a prime investment |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | - | 1,244 |
| 2+1 | 2 | - | 800 - 1,000 |
| 1+1 | 3 | - | 800 |
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Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02056-016-0140 | Improvements Assessment | $197,620 |
| Land Assessment | $74,140 | Total Assessment | $271,760 |
Property Taxes
Parcel Number
02056-016-0140
Land Assessment
$74,140
Improvements Assessment
$197,620
Total Assessment
$271,760
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RedKorr
Waverly Lake Multi-Family Units | 1246 Waverly Ave
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