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$ 650,000
Est. payment /mo
Price Dropped by $35K
1409 Woodlawn San Antonio, TX 78201
16 Beds
8 Baths
7,484 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family (2-8 Units)
Listing Status Active
Purchase Type For Sale
Square Footage 7,484 sqft
Price per Sqft $86
Subdivision Monticello Park
MLS Listing ID 1932637
Style Two Story
Bedrooms 16
Full Baths 8
Year Built 1940
Annual Tax Amount $15,252
Lot Size 0.438 Acres
Property Sub-Type Multi-Family (2-8 Units)
Property Description
Prime value-add 8-plex offered at $650,000 in a highly desirable infill San Antonio location. Built in 1940, 1409 W Woodlawn Ave is a two-story brick multifamily property totaling 10,851 SF on a 0.44-acre lot, zoned MF-33 (Multi-Family District). The property presents a compelling value-add opportunity, with 6 of 8 units already renovated and achieving higher market rents based on historical leasing trends. The remaining 2 units offer immediate upside, along with additional potential through light cosmetic upgrades and continued rent optimization. A key differentiator is the full basement level, featuring individual storage cages and existing laundry connections, offering a clear path to additional revenue streams through tenant storage and on-site laundry income-further enhancing overall returns. Stabilized proforma NOI is projected at $58,080, translating to an 8.31% cap rate at the offering price. Additional upside exists through exterior improvements, including a landscaping and curb appeal refresh to further elevate tenant demand and market positioning. Ideally located near strong lifestyle and employment drivers, the property is just 0.9 miles from Woodlawn Lake Park, 1.5 miles from San Pedro Springs Park, and 0.6 miles from Deco Plaza retail. It also benefits from proximity to major educational institutions including San Antonio College (1.6 miles), Trinity University (3.5 miles), and St. Mary's University (4.0 miles). Downtown San Antonio is approximately 3 miles away. Seller is motivated and offering up to $20,000 in closing cost assistance, creating an attractive opportunity for investors to reduce upfront capital and enhance overall returns. With a strong combination of in-place income, proven renovation upside, and additional revenue potential, this asset is well-positioned for investors seeking both cash flow and long-term appreciation.
Location
State TX
County Bexar
Area 0800
Direction W
Interior
Heating Window Unit
Cooling Window/Wall
Flooring Wood
Exterior
Exterior Feature Brick
Garage Spaces 10.0
Roof Type Heavy Composition
Schools
Elementary Schools Call District
Middle Schools Call District
High Schools Call District
School District San Antonio I.S.D.
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed by Nathan Young • Devora Realty • (210) 668-6844