$500,000

2004 Monterey St San Antonio, TX 78207

$5,938
Closing credit¹
4,708 sqft
0.4 acres
$106 / sqft
Multi-Family

Property details

About 2004 Monterey St

Investors rejoice and welcome to 2004 Monterey St., a beautifully renovated four-unit multifamily home nestled in the heart of San Antonio! This property seamlessly blends modern upgrades with historic charm, making it an exceptional investment opportunity at unbelievable investment potential and growth! Property Features: Unit Configurations: Units 1, 3, and 4: Each offers 2 bedrooms and 1 bathroom, catering to small families or roommates. Unit 2: Features 1 bedroom and 1 bathroom, ideal for singles or couples. Boasting With Recent Upgrades: Electrical: Completely updated wiring with individual meters for each unit & an additional meter for common areas. All outlets and switches are new, with city permits approved by CPS. Plumbing: New connections to the drainage system, brand-new faucets in showers, kitchens, and sinks, plus washer and dryer hookups in all units. Two new water heaters service the entire property. Foundation: Concrete pillars installed with successful city inspection, ensuring structural integrity. Roof: Updated with durable asphalt shingles. Interior: New drywall throughout, including fire-rated drywall on shared walls per city regulations. Fresh paint with an orange peel texture enhances the interior. Kitchens: Equipped with new cabinets, butcher block countertops, sinks, faucets, and microwaves with built-in extractors. Flooring: Laminate flooring installed throughout, with waterproof flooring in bathrooms. Bathrooms: Each features a new toilet, sink, and tiled shower walls. Doors and Windows: All doors are new. Due to the property's historic status, select windows were approved for replacement. Climate Control: Industrial ceiling fans and mini-split systems installed for efficient heating and cooling. Insulation: New insulation added to walls and ceilings, enhancing energy efficiency. Porch: A concrete porch constructed at the front, aligned with historical society approvals. Investment Highlights: Occupancy: Three units are currently occupied, with one unit available for immediate tenancy, offering the potential to maximize rental income. Rental Income Potential: Fully occupied, the property can generate a total monthly rental income of $4,700, equating to $56,400 annually. Actual Income: With one unit vacant, the current gross annual income is $42,300 ($3,525/month from three units). Cap Rate Analysis: Pro Forma Cap Rate (Fully Occupied): Based on the full rental potential of $56,400 annually, the cap rate is an impressive 11.28%. Actual Cap Rate (With One Vacancy): Considering the current income of $42,300 annually, the cap rate is 8.46%. Listing Price: Offered at $500,000, this property presents a compelling investment with strong cash flow potential and opportunities to increase returns as occupancy stabilizes. Market Insights: Neighborhood Highlights: Situated in the vibrant Avenida Guadalupe neighborhood, residents enjoy proximity to parks such as Vidaurri Park, Woodlawn Park, Elmendorf Lake Park, and Cassiano Park, offering ample green spaces for outdoor activities. The area is well-served by public transportation and is within walking distance to shopping centers and grocery stores, providing daily conveniences for tenants. This property not only offers a stable investment but also the opportunity to enhance value over time, making it a smart choice for both savvy investors and beginner investors alike. Rejoice in the fact that majority of capital expenditures have already been taken care of and addressed!

Highlights

Home typeMulti Family
HeatingOther, Electric
StatusActive
CoolingWall/Window Unit(s)
Size4,708 sqft
Lot size0.386 Acres
Year built1930
ParkingDetached,Street, Detached,Street, Detached,Street, Detached,Street
MLS #1836174

Summary

  • MLS Number: 1836174
  • Office Name: eXp Realty
  • Office Phone: (210) 998-7733
  • Office Email: realtorannag@gmail.com
  • Listing Agent: Anna Ghalumian

IDXDisclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the San Antonio Board of Realtors. Real estate listings held by brokerage firms are indicated by detailed information about them such as the name of the listing firms. © 2025 San Antonio Board of Realtors®. All Rights Reserved.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Properties subject to prior sale, change, withdrawal or rental. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


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Last updated on: 3/14/2025, 5:21:02 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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view of front of property

$500,000

2004 Monterey St

$5,938

closing credit¹

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0.5% sale price²

Price information

Property sales

We're sorry, we currently don't have property sales data for this listing.

Tax history

YearAssessmentProperty Tax
2024$420,080$2,924
2023$117,310$3,823
2022$141,100$3,823
2021$113,970$6,034
2020$103,250$2,896
2019$212,910$5,429
2018$189,440$5,429
2017$178,950$5,077

History based on county public records data.

Nearby schools

3

Lorenzo De Zavala Elementary School

Public District PK-5

0.3 mi

2311 San Luis St

2

J T Brackenridge Elementary School

Public District PK-5

0.6 mi

1214 Guadalupe St

3

David Barkley/Francisco Ruiz Elementary School

Public Charter PK-5

0.7 mi

1111 S Navidad St

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $33,721. Most San Antonio, TX residents have annual incomes less than $<35k. The most common type of family is single, no kids. The majority of residents in this area have high school diploma education.

How much money do the neighbors make?

55%
<35k
44%
35k-100k
1%
100k-200k
0%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree

What types of families live nearby?

37%
Single, No Kids
23%
Single, with Kids
20%
Married, No Kids
20%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

19%
<11 yrs old
12%
12-17 yrs old
22%
18-34 yrs old
35%
35-64 yrs old
12%
65+ yrs old

What do the neighbors do for fun?

  • Pro BoxingPro Boxing
  • Mexican League SoccerMexican League Soccer
  • Major League Soccer (MLS)Major League Soccer (MLS)

Where do the neighbors shop?

  • BurlingtonBurlington
  • Foot LockerFoot Locker
  • Ross Dress For LessRoss Dress For Less

Where do the neighbors go to eat?

  • White CastleWhite Castle
  • Little CaesarsLittle Caesars
  • Jack In The BoxJack In The Box

What do the neighbors drive?

  • KiaKia
  • DodgeDodge
  • NissanNissan

What do the neighbors listen to?

  • Urban Adult ContemporaryUrban Adult Contemporary
  • Rhythmic Contemporary HitsRhythmic Contemporary Hits
All data provided by Home Junction and Claritas

Similar homes for sale

This home is located at 2004 Monterey St in San Antonio, TX and zip code 78207 in the Avenida Guadalupe neighborhood. This 4,708 square foot home, which was built in 1930, sits on a 0.39 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since January 21, 2025 and is currently priced at $500,000.

In February 2025 more than 124 listings in San Antonio, TX were sold above the asking price. During the same period more than 229 listings were sold at asking price, while more than 592 were sold below. In February 2025 in San Antonio, TX there were 10.8% more homes for sale than in January. The median list price of listings available in February 2025 was $297,532, while the average time on the real estate market was 87 days.

From Rocket Homes Real Estate and based on county public records data.

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