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Jill Mast

jill@jillmastrealtor.com +1(512) 940-2464

Est. payment - /mo

10,760 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,760 sqft

MLS Listing ID 7114819

Year Built 1980

Tax Year 2025

Lot Size 2.438 Acres

Acres 2.438

Property Sub-Type Multi Family

Source actris

Property Description

Unique covered land play with solid current income and long term development upside. Location just out San Marcos city limits in the ETJ , mid- to long-term highest and best is likely to development multi-story apartment complex to serve San Marcos and its explosive long term growth. San Marcos and Central Hays Co is perhaps the most strategic location in the state for investors with a long horizon, centrally located between Austin and San Marcos along the I-35 corridor, ideal for a long term income development play. San Marcos projected to reach over 140,000 residents by 2035. Robust rental market with the additional growth of Texas State, itself projected to reach over 50,000 students by 2033. Currently 14 rental units of various size and era. Owners made substantial improvements in 2022-2023 to stabilize the property, substantially increasing Gross Rents and Operating Income YOY even in a soft rental market. 2025 Total Operating Income over $180,000, NOI just over $60,000. Entry level units that have low vacancy rates in the competitive San Marcos rental market. Recently built Whispering Pointe Apartments is the perfect template for the long term development play, only 0.4 miles to the north on Harris Hill, as critical infrastructure continues to get closer to the site. Being in the ETJ and unrestricted, proximity to central San Macros with none of the challenges of developing in the city. The city limit is literally on the rear property line. Solid current income with clear long term growth and development upside. Unique opportunity to get into this highly sought after, high growth area. Contact LA for more detailed information.

Location

State TX

County Hays

Area Hs

Zoning None, unrestricted in Ci

Interior

Heating See Remarks

Cooling See Remarks

Flooring Carpet, Vinyl, See Remarks

Fireplace N

Exterior

Utilities Available Above Ground, Electricity Connected, Water Connected, See Remarks

View None

Accessibility None

Total Parking Spaces 28

Private Pool No

Building

Foundation Pillar/Post/Pier, Raised

Sewer Shared Septic

Water Public

Structure Type Frame,Metal Siding,Vinyl Siding

New Construction No

Others

Restrictions None

Acceptable Financing Cash, Committed Money, Conventional

Tax Rate 1.5775

Listing Terms Cash, Committed Money, Conventional

Special Listing Condition Standard

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Listed by Texas Ally Real Estate Group • David Mosrie

NEARBY SCHOOL & BUSINESS

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Jill Mast

+1(512) 940-2464

Agent License ID: 721985

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1321 Harris Hill RD San Marcos, TX 78666

Jill Mast

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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