About this home

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!

Facts and features

Schools

• Hawthorne Pk-8 Academy

  elementary · K-8 · 0.6 mi

  4

• Edison High School

  high · 9-12 · 1.8 mi

  4

• San Antonio Academy Of Texas

  elementary · PK-8 · 0.2 mi

• Travis Early College High School

  high · 9-12 · 0.1 mi

  8

• Keystone School

  elementary · K-12 · 0.2 mi

• Keystone School

  elementary · K-12 · 0.2 mi

Price history

• Oct 30, 2026 · Listing Removed$650
• Sep 22, 2026 · Listing Removed$850
• Jul 1, 2026 · Price Changed$975,000
• Feb 23, 2026 · Listed$1,200,000
• Jan 11, 2021 · Sold—
• Feb 16, 2017 · Listing Removed$580,000
• Jun 1, 2016 · Sold—
• Mar 30, 2016 · Sold—

Tax history

• 2026$16,327 tax · $650,000 assessed
• 2025$16,715 tax · $685,000 assessed
• 2023$17,075 tax · $685,000 assessed
• 2022$18,289 tax · $675,000 assessed
• 2021$18,579 tax · $665,000 assessed
• 2020$17,956 tax · $640,000 assessed
• 2019$17,147 tax · $605,000 assessed
• 2018$17,625 tax · $615,000 assessed

Where it is