927 W Formosa Blvd, San Antonio, TX 78221
Local realty services provided by:Better Homes and Gardens Real Estate Winans
927 W Formosa Blvd,San Antonio, TX 78221
$1,250,000
- - Beds
- - Baths
- 10,688 sq. ft.
- Multi-family
- Active
Listed by: sterling williams(210) 569-9008, Swilliams@multiunitx.com
Office: real broker, llc.
MLS#:1886094
Source:SABOR
Price summary
- Price:$1,250,000
- Price per sq. ft.:$116.95
About this home
927 W Formosa Blvd is a 12-unit, multi-phase community built in 1995, 1998, and 1999. All 12 Units have 2 bedrooms and 2 baths. Each unit has two parking spots. Located in the heart of south-central San Antonio. The property consists of four individual cottages and four duplex buildings, totaling 12 units. With convenient access to Interstate 35 and seamless connectivity to Interstate 410 and 35, the community is just minutes from major department stores, grocery stores, restaurants, and San Antonio's renowned attractions. Additionally, it is only 4.7 miles from Texas A&M San Antonio and 3.1 miles from the upcoming Palo Alto Hospital development, making it an attractive option for students, healthcare professionals, and the local workforce. Each two-bedroom, one-bathroom unit features white appliances, tile flooring, and Formica countertops, providing durable and functional living spaces. The property also offers ample green space for residents to enjoy. A rare feature for a 12-unit complex, each unit is separately metered for both water and electricity, ensuring that all utilities are paid by tenants. This setup minimizes operational expenses for ownership while enhancing the property's value and cash flow potential. With strategic rent adjustments and utility cost recovery, this property presents a strong value-add opportunity for investors. Value-Add Opportunity 927 W Formosa Blvd presents a strong value-add opportunity through multiple revenue-enhancing strategies. Current rents are below market rates, providing immediate potential for rental increases to align with comparable properties in the area. Additionally, adding storage units at the back of the property offers an extra income stream by allowing tenants to rent storage space for a monthly fee. Implementing covered parking for an additional fee further enhances revenue while increasing tenant satisfaction and retention. Combined, these strategic improvements will significantly boost Net Operating Income (NOI) and maximize the property's long-term value.
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Home facts
- Year built:1995
- Listing ID #:1886094
- Added:107 day(s) ago
- Updated:July 22, 2025 at 07:21 PM
Rooms and interior
- Living area:10,688 sq. ft.
Heating and cooling
- Cooling:One Central
- Heating:Electric
Structure and exterior
- Roof:Composition
- Year built:1995
- Building area:10,688 sq. ft.
- Lot area:0.88 Acres
Schools
- High school:Mccollum
- Middle school:Terrell Wells
- Elementary school:Vestal
Finances and disclosures
- Price:$1,250,000
- Price per sq. ft.:$116.95
- Tax amount:$20,389
IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants and/or the MLS from liability. New listings near 927 W Formosa Blvd
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