755 River Road, San Marcos

$2,000,000

0 Bed
0 Bath
13,200 Sqft
2½ Acres
0 Garage

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.

Essential Information
MLS® #454959
Price$2,000,000
Bathrooms0.00
Square Footage13,200
Acres2.50
Year Built2001
TypeSingle-Family
Sub-TypeApartment
StyleTraditional
StatusActive
Community Information
Address755 River Road
Subdivision5559
CitySan Marcos
CountyHays
StateTexas
Zip Code78666
Amenities
Parking Spaces3
ViewNone
Utilities

Electricity Available, Phone Available

Interior
InteriorCarpet, Laminate, Vinyl
HeatingElectric
FireplacesNone
# of Stories2
StoriesTwo
Appliances

Electric Range, Electric Water Heater, Disposal, Refrigerator, Other, See Remarks

Exterior
RoofComposition, Shingle
ConstructionHardiPlank Type, Frame
FoundationSlab
School Information
DistrictSan Marcos Cisd
Additional Information
Date ListedOctober 22nd, 2021
HOA Fees0.00
Listing Details
OfficeTexas Ally Real Estate Group
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