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755 River Road

San Marcos, TX 78666
  • $2,000,000
  • STATUS: Active
  • ON SITE: 87 Days
  • MLS #: 454959
$2,000,000
  • 0
    BEDS
  • 2.5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 13,200
    SQFT
  • $152
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
2001
County:
Area:

School Ratings & Info

School District:

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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© 2022 Central Texas Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively 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. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Rutherford Realty Group | The Real Estate Home Team. Data last updated: 2022-01-18T00:05:46.423.
www.rutherfordrealtygroup.com/homes/122687065
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755 River Road San Marcos, TX 78666

  • Price: $2,000,000
  • Status: Active
  • On Site: 87 Days
  • MLS #: 454959
0
Beds
0
Baths
0
½ Baths
2.5
Acres
13,200
SQFT
$152
$/SQFT
2001
Built
Neighborhood:
5559
County:
Hays
Area:
San Marcos
School District:
San Marcos Cisd
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

Architectural Style Traditional Carport Spaces 3 Carport YN Yes Construction Materials FrameHardiplank Type Fencing None Foundation Details Slab Garage YN No Pool Features None View None View YN No Waterfront YN No

Interior Features

Appliances Electric RangeElectric Water HeaterDisposalOtherRefrigeratorSee Remarks Fireplace Features None Fireplace YN No Flooring CarpetLaminateVinyl Heating Electric Heating YN Yes Laundry Features OtherSee Remarks Levels Two

Property Features

Accessibility Features None Association Fee 0 Association YN No Listing Terms CashConventionalOtherSee Remarks Property Condition Resale Property Subtype Apartment Road Surface Type OtherPavedSee Remarks Sewer Public Sewer Spa YN No Utilities Electricity AvailablePhone Available Water Source Public Zoning Description Mf24



© 2022 Central Texas MLS.
Listing courtesy of David Mosrie of Texas Ally Real Estate Group.



© 2022 Central Texas Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively 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. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Rutherford Realty Group | The Real Estate Home Team. Data last updated: 2022-01-18T00:05:46.423.
 
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