Positive cash flow! This fully renovated quadplex presents a rare turnkey investment opportunity located near Lackland Air Force Base, SeaWorld San Antonio and many major employers, ensuring strong rental demand. The property underwent a complete down-to-the-studs renovation in 2023, featuring a new foundation, new roof, updated PEX plumbing and drain lines, all-new electrical systems, new drywall, new windows, doors, and modern finishes throughout. Every major system has been replaced, offering investors a truly low-maintenance asset for years to come. This property provides immediate in-place cash flow with significant upside potential through lease-up and rental rate optimization. Zoned R-6 with modern construction standards and minimal deferred maintenance, this property is ideal for investors seeking turnkey cash flow with long-term appreciation potential. The combination of a full renovation, prime location, and partial occupancy offers a compelling value-add opportunity for both buy-and-hold and cash flow-focused investors.
For sale
$480,000
2531 Observation, San Antonio, TX 78227
8beds
3,000sqft
Est.:
Multi Family
Built in 1944
-- sqft lot
$453,700 Zestimate®
$160/sqft
$-- HOA
What's special
- 55 days
- on Zillow |
- 230 |
- 13 |
Zillow last checked: 7 hours ago
Listing updated: June 19, 2025 at 03:42pm
Listed by:
Dominique Jimenez TREC #577284 (210) 800-5525,
Real Broker, LLC
Source: SABOR,MLS#: 1862272

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Window Unit, Electric
Cooling
- Wall/Window Unit(s)
Appliances
- Included: Oven, Refrigerator, Oven/Stove
Features
- Flooring: Laminate
Interior area
- Total structure area: 3,000
- Total interior livable area: 3,000 sqft
Property
Parking
- Total spaces: 8
- Parking features: Parking Pad, Pad
Features
- Levels: One
- Stories: 1
- Patio & porch: Covered
Lot
- Size: 9,713.88 Square Feet
- Features: Level
Details
- Parcel number: 155070090110
- Zoning description: R-6
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Siding
- Roof: Composition
Condition
- Year built: 1944
Utilities & green energy
- Electric: Common Electric Meter(s)
- Gas: Common Gas Meter(s)
- Water: Common Water Meter(s)
Community & HOA
Community
- Subdivision: Lackland Terrace
Location
- Region: San Antonio
Financial & listing details
- Price per square foot: $160/sqft
- Tax assessed value: $214,110
- Annual tax amount: $4,902
- Price range: $480K - $480K
- Date on market: 4/29/2025
- Listing terms: Conventional,FHA,VA Loan,Cash,Investors OK
- Total actual rent: 5400
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