Six-Unit Apartment
For Sale
$990,000
1402 N Adams St., Fredericksburg, TX 78624
Residential Income, Fredericksburg, TX
Property Size4,646 SF
Lot Size0.28 Acres
Price / SF$213.09
Days on Market48
Property Features for 1402 N Adams St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Fredericksburg
Parking features
None
Window features
Double Pane Windows
Appliances
Electric Water Heater, Dishwasher, Electric Range, Refrigerator
Subdivision
Sand Castle (GILL)
Lot features
Corner Lot
Elementary school
Fredericksburg
Standard status
Active
Size
4,646 SF
Lot size
0.28 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
6
Flooring type
Vinyl
Building materials
Brick Veneer
Roof type
Composition
Architectural style
Other
Listing Agency:
Compass RE Texas, LLC
(214) 814-8100
Listed By:
Kimberly Bowling · License #533286
(936) 203-3351
Added: Aug 31
Changed: Sep 25
Last Checked: Oct 17 at 11:06AM
MLS# 125331
Copyright © 2026 Kerrville Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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 six-unit apartment property at 1402 N Adams St. contains approximately 4,646 square feet on 0.281 acres. Built in 1980, the building features brick veneer construction, vinyl flooring, composition roofing, and central electric heating and air conditioning. Each unit is leased under a fixed-term agreement, and the property is currently occupied.
Unit appliances include electric water heaters, dishwashers, electric ranges, and refrigerators. The property is served by public water and public sewer, with cable available. Located in Fredericksburg, Texas, the asset offers a compact multifamily configuration with established occupancy and on-site apartment improvements.
Unit appliances include electric water heaters, dishwashers, electric ranges, and refrigerators. The property is served by public water and public sewer, with cable available. Located in Fredericksburg, Texas, the asset offers a compact multifamily configuration with established occupancy and on-site apartment improvements.
Key Highlights
- Six apartment units, all currently leased under fixed‑term agreements
- Approximately 4,646 square feet on 0.281 acres
- 1402 N Adams St., Fredericksburg, TX 78624
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,651
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,020
$653.0K
Cap Rate 7%
$466,443
$466.4K
Cap Rate 9%
$362,789
$362.8K
Market Conditions
NOI Build-Up for 4,646 SF
Gross rent
$67.5K $14.52/SF
− Vacancy
−$8.1K −$1.74/SF
EGI
$59.4K $12.78/SF
− OpEx
−$26.7K −$5.75/SF
NOI
$32.7K $7.03/SF
Area
Gillespie County, TX
Vacancy
12.00%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,020
Cap Rate 7%
$466,443
Cap Rate 9%
$362,789
Alternative Uses
Best Use
Apartment 5plus
$466.4K
$408.1K – $544.2K
NOI $32,651 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.52M
$3.08M – $4.10M
NOI $246,284 @ 7.0% cap · market cap 24.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
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?
Apartment building - Brick-veneer property with six occupied units and central electric heating and cooling.
Where is this apartment building located?
The property is located at 1402 N Adams St. Fredericksburg, TX.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Six apartment units, all currently leased under fixed‑term agreements; Approximately 4,646 square feet on 0.281 acres; 1402 N Adams St., Fredericksburg, TX 78624
