About 2807 Observation
Fully renovated 8 unit apartment building in the heart of San Antonio's Lackland AFB corridor one of the city's most best workforce housing submarkets. All units are two bedroom floor plans currently renting between $1,100-$1,300 per month with 7 of 8 units leased. Cash flowing from day one. The 2024 renovation was comprehensive: Replaced: roof, HVAC, new windows, LVP flooring, bathrooms, kitchens and appliances, granite-style countertops and cabinetry, drywall, fresh paint inside and out, doors, hardware, plumbing, and lighting throughout. Zero deferred maintenance.
Features of 2807 Observation
| MLS® # | 1949529 |
|---|---|
| Price | $850,000 |
| Number Of Units | 8 |
| Square Footage | 5,800 |
| Acres | 0.22 |
| Year Built | 1973 |
| Type | Multi-Family (2-8 Units) |
| Sub-Type | Two Story |
| Status | Active |
Community Information
| Address | 2807 Observation |
|---|---|
| Subdivision | NOT IN DEFINED SUBDIVISION |
| City | San Antonio |
| County | Bexar |
| State | TX |
| Zip Code | 78227 |
Multi-Unit Information
| Gross Annual Income | $125,000 |
|---|---|
| Net Operating Income | $35,700 |
| Annual Operating Expense | $12,300 |
| Operating Expense Includes | Taxes, Insurance, Maintenance, Management, Services |
Unit 1 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Oven/Stove, Washer Connection, Dryer Connection, Disposal |
Unit 2 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator, Washer Connection, Dryer Connection, Disposal |
Unit 3 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Oven/Stove, Refrigerator, Washer Connection, Dryer Connection, Disposal |
Unit 4 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Oven/Stove, Washer Connection, Dryer Connection, Disposal |
Unit 5 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $850 |
| Occupied | YES |
| Includes | Dryer Connection, Disposal, Oven/Stove, Washer Connection |
Unit 6 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Dryer Connection, Disposal, Oven/Stove, Washer Connection |
Unit 7 Information
| Parking Type | Pad |
|---|---|
| Includes | Dryer Connection, Disposal, Oven/Stove, Washer Connection |
Unit 8 Information
| Bedrooms | 2 |
|---|---|
| Bathrooms (Full) | 1 |
| Parking Spaces | 1 |
| Parking Type | Pad |
| Handicap Access | NO |
| Rent | $1,000 |
| Occupied | YES |
| Includes | Dryer Connection, Disposal, Oven/Stove, Washer Connection |
Amenities
| Has Pool | No |
|---|
Interior
| Heating | Central |
|---|---|
| Cooling | Unit Central |
| Has Basement | No |
Exterior
| Exterior | Siding |
|---|---|
| Exterior Features | Mature Trees, Cable TV Available |
| Roof | Composition |
| Foundation | Slab |
School Information
| District | Northside |
|---|---|
| Elementary | Westwood Terrace |
| Middle | Jones |
| High | John Jay |
Additional Information
| Date Listed | March 17th, 2026 |
|---|---|
| Days on Market | 119 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Cap Rate | 4.20 |
| Gross Rent Multiplier | 6.80 |
| Estimated Taxes | $7,288 |
Listing Details
| Agent | Scott Malouff |
|---|---|
| Office | Keller Williams Heritage |
| Contact Info | (210) 365-6192 |