About 124 E Ashby Pl
Welcome to 124 E Ashby - a rare historic 8-unit multifamily property located in the heart of Tobin Hill, one of Downtown San Antonio's most walkable and desirable neighborhoods. Originally a grand historic mansion, this architecturally distinctive property features hardwood floors, soaring ceilings, arched doorways, oversized windows, and spacious layouts - each unit offering its own unique character and charm. This is not a commodity apartment complex - it's a boutique historic asset with irreplaceable architectural appeal. Current rents are potentially under market, presenting a compelling value-add opportunity for investors seeking long-term upside. With 75% occupancy and immediate leasing potential on remaining units, there is a clear path toward stabilization and improved cash flow. A stabilized pro forma supports a 5% cap scenario, offering investors the opportunity to increase rents to market levels while benefiting from one of San Antonio's strongest rental corridors. Located just steps from St. Mary's Strip, residents enjoy walkable access to nightlife, restaurants, and entertainment. The property is also minutes from The Pearl, San Antonio College, and Downtown. This drives consistent tenant demand and long-term appreciation potential. This is a location-driven investment with built-in rental growth opportunity in a neighborhood where historic character and walkability command premium interest. 124 E Ashby is ideal for investors looking to reposition a unique historic asset in a high-growth urban submarket - not just another multifamily property, but a long-term hold with upside!
Features of 124 E Ashby Pl
| MLS® # | 1943475 |
|---|---|
| Price | $975,000 |
| Number Of Units | 8 |
| Square Footage | 9,133 |
| Acres | 0.19 |
| Year Built | 1915 |
| Type | Multi-Family (2-8 Units) |
| Sub-Type | Two Story |
| Status | Active |
Community Information
| Address | 124 E Ashby Pl |
|---|---|
| Subdivision | UNKNOWN |
| City | San Antonio |
| County | Bexar |
| State | TX |
| Zip Code | 78212 |
Multi-Unit Information
| Gross Annual Income | $73,440 |
|---|---|
| Net Operating Income | $60,567 |
| Annual Operating Expense | $12,873 |
| Operating Expense Includes | Equipment, Maintenance, Management, Miscellaneous, Other, Services |
Unit 1 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $850 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Unit 2 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $720 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Unit 3 Information
| Bedrooms | 1 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $600 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Unit 4 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $850 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Unit 5 Information
| Bedrooms | 1 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $825 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Unit 6 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $800 |
| Occupied | NO |
| Includes | Oven/Stove, Refrigerator |
Unit 7 Information
| Parking Type | Pad, Street |
|---|---|
| Includes | Oven/Stove, Refrigerator |
Unit 8 Information
| Bedrooms | 1 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad, Street |
| Handicap Access | NO |
| Rent | $675 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator |
Amenities
| Has Pool | No |
|---|
Interior
| Heating | Floor Furnace |
|---|---|
| Cooling | Window/Wall |
| Has Basement | No |
Exterior
| Exterior | Siding, Wood |
|---|---|
| Exterior Features | Cable TV Available, Covered Patio, Detached Quarters, Has Gutters, Patio Slab, Mature Trees |
| Roof | Composition |
| Construction | Pre-Owned |
School Information
| District | San Antonio I.S.D. |
|---|---|
| Elementary | Hawthorne |
| Middle | Haworthne Academy |
| High | Edison |
Additional Information
| Date Listed | February 23rd, 2026 |
|---|---|
| Days on Market | 140 |
| Zoning | MF-33 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Cap Rate | 6.21 |
| Gross Rent Multiplier | 13.28 |
| Estimated Taxes | $16,717 |
Listing Details
| Agent | Shane Neal |
|---|---|
| Office | eXp Realty |
| Contact Info | (726) 245-8941 |