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755 River Rd

San Marcos, TX 78666
  • $2,000,000
  • STATUS: Active
  • ID#: 2074689
UPDATED: 9 min ago
$2,000,000
  • 0
    BEDS
  • 2.5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2001
County:
Area:

School Ratings & Info

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.

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© 2021 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is 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. Data last updated: 2021-12-05T12:59:29.48.
austin.papasanproperties.com/homes/122686770
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755 River Rd San Marcos, TX 78666

  • Price: $2,000,000
  • Status: Active
  • On Site: Days
  • Updated: 9 min ago
  • ID#: 2074689
0
Beds
0
Baths
0
½ Baths
2.5
Acres
2001
Built
Neighborhood:
River Place
County:
Hays
Area:
San Marcos
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.
Exterior Features

Attached Garage YN No Bays 40 Construction Materials Hardiplank Type Foundation Details Slab Garage YN No Other Structures None Parking Features CoveredDetached CarportOff StreetOn SitePaved Road Surface Type Pvd Topography Level Waterfront YN No

Interior Features

Building Area Total 13200 Cooling Central Air Flooring CarpetLaminateVinyl Heating Central

Property Features

Accessibility Features See Remarks Additional Parcels YN No Building Features Appliances Current Use Multi-FamilyResidential Estimated Taxes 25134 Horse YN Yes Listing Terms CashConventional New Construction YN No Property Attached YN Yes Property Condition Resale Property Sub Type Apartment Sewer Public Sewer Special Listing Conditions StandardThird Party Approval Utilities Cable AvailableElectricity ConnectedPhone AvailableSewer ConnectedWater Connected Water Source Public

Property listed by Texas Ally Real Estate Group.


© 2021 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is 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. Data last updated: 2021-12-05T12:59:29.48.
 
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Papasan Real Estate Team @ Keller Williams Realty
1801 S. Mopac Expwy, Ste 100
Austin TX, 78746