Five-Site Multifamily
For Sale
Contact for pricing
505 STATE HWY 173 N, Hondo, TX 78861
Fully leased property combines two homes with three additional rental sites and established utility connections.
Property Size1,322 SF
Lot Size0.89 Acres
Price / SF$317.62
Days on Market50
Property Features for 505 STATE HWY 173 N
General Information
Standard status
Active
Size
1,322 SF
Lot size
0.89 Acres
Property subtype
Multifamily, Mixed Use
Occupancy
100%
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1974
Buildings
2
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Galm Real Estate, LLC
Listed By:
Kari Galm Menchaca · License #651976
(830) 931-0900
Source:
Crexi
Added: Aug 31
Changed: Oct 5
Last Checked: Oct 19 at 5:37AM
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 Galm Real Estate, LLC
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 multifamily property includes a 1,322-square-foot, three-bedroom, two-bath site-built home and a 1,456-square-foot, three-bedroom, two-bath manufactured home. Three additional rental sites accommodate RV or lot rentals, providing five separate leased locations within the property. The homes were built in 1974, and the property is fully rented.
Utility infrastructure includes three electric meters, two water meters, sewer clean-outs, and water hookups serving the individual sites. The property occupies approximately 0.89 acres with frontage along State Highway 173, a visible corner position, and access from a secondary road. It is located in Hondo near Highway 90, shopping, schools, and restaurants.
Utility infrastructure includes three electric meters, two water meters, sewer clean-outs, and water hookups serving the individual sites. The property occupies approximately 0.89 acres with frontage along State Highway 173, a visible corner position, and access from a secondary road. It is located in Hondo near Highway 90, shopping, schools, and restaurants.
Key Highlights
- Five separate rental sites on approximately 0.89 acres
- 1,322 square foot, 3‑bedroom, 2‑bath site‑built home
- 1,456 square foot, 3‑bedroom, 2‑bath manufactured home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,779
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,580
$235.6K
Cap Rate 7%
$168,271
$168.3K
Cap Rate 9%
$130,878
$130.9K
Market Conditions
NOI Build-Up for 1,322 SF
Gross rent
$23.8K $18.00/SF
− Vacancy
−$2.4K −$1.80/SF
EGI
$21.4K $16.20/SF
− OpEx
−$9.6K −$7.29/SF
NOI
$11.8K $8.91/SF
Area
Medina County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,580
Cap Rate 7%
$168,271
Cap Rate 9%
$130,878
Alternative Uses
Best Use
Apartment 5plus
$168.3K
$147.2K – $196.3K
NOI $11,779 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$337.2K
$295.1K – $393.4K
NOI $23,605 @ 7.0% cap · market cap 5.62%
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
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 78861, TX
13,298
Population
5,163
Households
2.6
Avg Household Size
39
Median Age
17%
College-Educated
82%
High-School Grad
490.7 sq mi
ZIP Area
27
Density / Sq Mi
$64,491
Median Household Income
$39,711
Median Earnings
$1,131
Median Rent
$210,100
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 - Fully leased property combines two homes with three additional rental sites and established utility connections.
Where is this multifamily property located?
The property is located at 505 STATE HWY 173 N Hondo, TX.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Five separate rental sites on approximately 0.89 acres; 1,322 square foot, 3‑bedroom, 2‑bath site‑built home; 1,456 square foot, 3‑bedroom, 2‑bath manufactured home
