927 W Formosa Blvd, San Antonio, TX 78221
Local realty services provided by:CENTURY 21 Middleton
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 1 bath. 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.
Contact an agent
Home facts
- Year built:1995
- Listing ID #:1886094
- Added:147 day(s) ago
- Updated:December 17, 2025 at 05:38 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
New listings near 927 W Formosa Blvd
- New
$649,000Active3 beds 3 baths2,499 sq. ft.67 Wolfeton, San Antonio, TX 78218
MLS# 1926766Listed by: ENGEL & VOLKERS ALAMO HEIGHTS - New
$280,000Active3 beds 6 baths1,798 sq. ft.6007 Lonesome Pine, San Antonio, TX 78247
MLS# 1928979Listed by: LPT REALTY, LLC - New
$219,990Active2 beds 2 baths1,106 sq. ft.3030 Dreamweaver, San Antonio, TX 78222
MLS# 1928983Listed by: CA & COMPANY, REALTORS - New
$399,000Active4 beds 2 baths2,056 sq. ft.2011 Broken Oak, San Antonio, TX 78232
MLS# 1928984Listed by: AT HOME TEXAS REALTY - New
$245,990Active3 beds 3 baths1,485 sq. ft.3102 Dreamweaver, San Antonio, TX 78222
MLS# 1928989Listed by: CA & COMPANY, REALTORS - New
$595,000Active3 beds 4 baths257 Baylor, San Antonio, TX 78204
MLS# 1928993Listed by: VORTEX REALTY - New
$149,000Active4 beds 2 baths1,012 sq. ft.1518 Waverly, San Antonio, TX 78201
MLS# 1928997Listed by: ALAN KING & ASSOCIATES, LLC - New
$670,000Active5 beds 5 baths3,823 sq. ft.11713 Stoltzer, San Antonio, TX 78254
MLS# 600150Listed by: HIGHLAND HOMES REALTY - New
$185,000Active4 beds 2 baths1,175 sq. ft.4850 Castle Stream Drive, San Antonio, TX 78218
MLS# 1928970Listed by: EXP REALTY - New
$315,000Active3 beds 3 baths1,503 sq. ft.9602 Nona Kay, San Antonio, TX 78217
MLS# 1928974Listed by: ALAN KING & ASSOCIATES, LLC