Address
755 River Road San Marcos, TX
Price
$ 2,000,000
Property Attributes
  • MLS#2074689
  • TypeCommercial
  • CountyHAYS
  • CitySan Marcos
  • AreaHS
  • NeighborhoodRiver Place
  • Zip78666
  • StyleApartment
  • Year Built2001
  • Taxes$ 25134
  • Price$ 2,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage13200
  • Lot Size2.5 Acres
Listing Provided Courtesy Of:
Texas Ally Real Estate Group
Data Source:
Austin Board of REALTORS® (ABOR) - 105 - TX
Property Description

Rare existing income + development potential opportunity in rapidly growing San Marcos. 12 rental units with value add potential on a 2.5 acre parcel with desirable MF-24 zoning. Per zoning, up to 60 units total possible. All units are 3br / 3ba with ample covered parking, ideally configured for student / roommate rentals and in close proximity to Texas State University. Previous owner was focused on a large multi-family development project and allowed leases to go month-to-month, falling to 50% occupancy, at well below market rents, did not realize the full income potential of the property. Frontage on two city streets, all utilities on site, only a small portion of the property currently built on. Solid income property under proper management, in addition to any future development potential, numerous investment strategies and exits possible. In the heart of booming central Hays Co - fastest growing county in the country (2010-2020 census data) right along the I-35 corridor.

Price History
10/22/2021 Listed $2,000,000

General Features

Accessibility SeeRemarks
City San Marcos
Construction Materials HardiPlankType
County Hays
Current Use MultiFamily
Directions 35 to exit 205 toward TX-80 E/Luling/Wimberley/Farm to Market Rd 12 W, Bugg Ln to River Rd
Flooring Carpet, Laminate, Vinyl
Heating Central
Leasable Area 13200.0
Lease Type Gross
MLS Area HS
Net Operating Income 68357.0
New Construction No
Operatingexpense 99723.0
Possession SubjectToTenantRights
Property Sub Type Additional Apartment
Property SubType Apartment
Property Type CommercialSale
PropertyCondition Resale
Restrictions ZoningRestrictions
Sewer PublicSewer
Special Listing Conditions ThirdPartyApproval, Standard
Standard Status Active
Status Active
Street Name River
Subdivision Name River Place
Tax Lot 1
Tax Year 2021
TaxAssessedValue 1140313
Terms Cash, Conventional
Topography Level
Utilities CableAvailable, ElectricityConnected, PhoneAvailable, SewerConnected, WaterConnected
Year Built 2001
Yearbuiltsource PublicRecords
Zoning MF-24
Zoning Description MF-24

Interior Features

Air Conditioning Y/N Yes
Street Suffix Road

Exterior Features

Building Area Total 13200.0
Foundation Details Slab
Horse Y/N Yes
Lot Features Level
Lot Size Acres 2.5
Lot Size Area 2.5
Lot Size Source Survey
Number of Buildings 6
Other Equipment None
Parking Features Covered, DetachedCarport, OnSite, OffStreet, Paved
Road Surface Type Paved
Water Source Public
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 78666

Price
AVG $1.02M
$2M
Visits
AVG 80
18
Year Built
AVG 1994
2001
Walkscore
AVG 30
16
Data Provided by Walkscore ® not using MLS data

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