381 Hwy Devine, TX
- Commercial real estate
- 16,628 SF
- 2.16 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 381 Hwy
- Year built
- 2014
- Lot size
- 2.16 lot acres
- Property size
- 16,628 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity in Devine, Texas! This 16,628 square foot multifamily property boasts 24 units, all currently occupied, offering immediate cash flow. Constructed in 2014, the complex is in excellent condition and comprises twelve two-bedroom, two-bathroom units and twelve one-bedroom, one-bathroom units. While rents haven't been increased since 2015, significant upside potential exists due to the property's strong location and current market conditions. Situated on a 2.16-acre lot, this property offers significant additional development potential. Approximately one acre of land at the rear of the property presents a unique opportunity to expand the existing complex, potentially adding more multifamily units, developing an RV park, constructing storage units, or building single-family residences. The property's prime location near Interstate 35 and within 30 minutes of San Antonio ensures high demand and strong rental income. This is a rare chance to acquire a well-maintained, high-occupancy multifamily property with substantial room for growth and increased profitability. The property's current income stream, combined with the significant development potential of the additional land, makes this an exceptional investment opportunity. Don't miss out on this chance to capitalize on the thriving Devine market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Devine
- County
- Medina
- State
- Texas
- Longitude
- -98.8916
- Latitude
- 29.1552
