San Marcos Multifamily Investment
1000 Advance Street San Marcos, TX 78666
1000 Advance Street, San Marcos, TX, 78666
$964,000
For Sale
$964,000
MULTI_FAMILY - Other - San Marcos, TX
Property Size5,548 SF
Lot Size1.21 Acres
Price / SF$173.76
Days on Market463
Property Features for 1000 Advance Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Rooms
- Bathroom 1, Bedroom 8, Bedroom 5, Bedroom 3, Bedroom 2, Bedroom 7, Bedroom 9, Bedroom 1, Bathroom 2, Bathroom 6, Bathroom 3, Bedroom 6, Bedroom 4, Bathroom 4, Bathroom 5
- Patio and Porch features
- Deck, Patio
- Pool private
- 1
- Interior features
- BeamedCeilings, CeilingFans, PrimaryDownstairs, MainLevelPrimary, SeparateShower, TubShower, BreakfastArea, KitchenIsland, KitchenFamilyRoomCombo, KitchenDiningCombo
- Exterior features
- CoveredPatio, Deck
- Fireplace
- 1
- Appliances
- Dishwasher, ExhaustFan, ElectricWaterHeater, Disposal, Microwave, SomeElectricAppliances
- Standard status
- Active
- APN
- R47752
- Size
- 5,548 SF
- Lot size
- 1.21 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 15027
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Electric, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Wood, Vinyl, Tile
- Building materials
- HardiplankType, StoneVeneer, WoodSiding
- Roof type
- Composition, Shingle, Metal
- Architectural style
- Other
Listing Agency
Keller Williams Realty- Hays C
(512) 312-1626
589 N Fm 1626, Buda, TX
Listed by
Adrianne Craft · License #0598981
(512) 300-7647
Added: Apr 11, 2025 Checked: Jul 17 at 7:06 am
MLS# 576249
Listing URL
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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 substantial potential and opportunity. The property is currently zoned SF6 (single family) but has the possibility of rezoning. The main home has a sprawling floor plan that includes 3 bedrooms, 2 full baths, and multiple storage and flex areas. All three secondary units have refreshed finishes and are currently leased. The front deck of the main home provides notable views. An in-ground pool requires some attention. The property totals 1.21 acres. The property contains 5548 square feet of space. The efficiency apartment is leased month-to-month at $895. The unit at 1009 Hillyer is leased through June 2026 at $1,850. 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. This property presents an investor special with great rental and further development potential.
Key Highlights
- 4 lots with 3 homes plus an efficiency apartment; all units currently leased
- Efficiency apartment is leased month‑to‑month at $895–$1,009
- Secondary unit leases: 1001 Hillyer and 1000 Advance (main home) leased through 6/2026 and 12/2025 at $2,200 and $1,900
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.1k | $29.40 |
| − Vacancy | −$8.5k | −$1.53 |
| EGI | $154.6k | $27.87 |
| − OpEx | −$69.6k | −$12.54 |
| NOI | $85.0k | $15.33 |
5,548 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $85,046 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,344 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Nameless Ashram
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Unique San Marcos property with multiple homes and development potential.
Where is this single family property located?
The property is located at 1000 Advance Street San Marcos, TX.
What is the asking price?
The asking price for this property is $964,000.
What are key features of this property?
This property features: 4 lots with 3 homes plus an efficiency apartment; all units currently leased; Efficiency apartment is leased month‑to‑month at $895–$1,009; Secondary unit leases: 1001 Hillyer and 1000 Advance (main home) leased through 6/2026 and 12/2025 at $2,200 and $1,900
