San Marcos Multifamily Investment
For Sale
$939,000
1000 Advance #1 St, San Marcos, TX 78666
Unique multifamily property with development potential in San Marcos, Texas.
Property Size5,548 SF
Lot Size1.21 Acres
Days on Market230
Property Features for 1000 Advance #1 St
General Information
Standard status
Active
Size
5,548 SF
Lot size
1.21 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,027
Building Details
Building Size
5,548 SF
Year Built
1900
Units
4
Listing Agency:
Keller Williams Realty- Hays County
Listed By:
Adrianne Craft · License #0598981
(512) 387-0165
Source:
Elliman
Added: Mar 11
Changed: Oct 25
Last Checked: Oct 24 at 5:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty- Hays County
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This unique property in San Marcos features four lots with three homes and an efficiency apartment, offering potential for investors and developers. The property is currently zoned SF6 (single family), but rezoning could be requested. The main home has a sprawling floor plan with three bedrooms, two full baths, and multiple storage and flex areas. The three secondary units have refreshed finishes and are currently leased. The front deck of the main home offers views. An in-ground pool requires some attention. The efficiency apartment is leased month-to-month at $895. The unit at 1009 Hillyer is leased through June 2026 at $1,850, and the unit at 1001 Hillyer is leased through June 2026 at $2,200. The main home at 1000 Advance is leased through December 2025 at $1,900. The fourth lot has been recently cleared.
Key Highlights
- Multiple Income‑Generating Units: Includes 3 leased homes and an efficiency apartment, providing immediate rental income.
- Large Lot with Development Potential: Four lots included, with potential for rezoning and further development.
- Main Home with Spacious Layout: Features a sprawling floor plan with 3 bedrooms and 2 full baths.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,046
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,700,920
$1.7M
Cap Rate 7%
$1,214,943
$1.2M
Cap Rate 9%
$944,956
$945.0K
Market Conditions
NOI Build-Up for 5,548 SF
Gross rent
$163.1K $29.40/SF
− Vacancy
−$8.5K −$1.53/SF
EGI
$154.6K $27.87/SF
− OpEx
−$69.6K −$12.54/SF
NOI
$85.0K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,700,920
Cap Rate 7%
$1,214,943
Cap Rate 9%
$944,956
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $85,046 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,344 @ 7.0% cap · market cap 17.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Unique multifamily property with development potential in San Marcos, Texas.
Where is this multifamily property located?
The property is located at 1000 Advance #1 St San Marcos, TX.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Multiple Income‑Generating Units: Includes 3 leased homes and an efficiency apartment, providing immediate rental income.; Large Lot with Development Potential: Four lots included, with potential for rezoning and further development.; Main Home with Spacious Layout: Features a sprawling floor plan with 3 bedrooms and 2 full baths.
