105 Blanco St San Marcos, TX 78666

Property Details for 105 Blanco St

Year built

1987

Property size

2,820 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents two beautifully renovated, connected townhomes located at 105 & 107 Blanco Street in the heart of San Marcos' historic downtown district. The property, built in 1987 and extensively renovated in 2020, offers a combined 2,820 square feet of living space, encompassing two units, each with four parking spaces. Currently operating at 100% occupancy (as of June 1, 2023) with leases extending through May 2025, this fee-simple ownership provides a strong, immediate return. Each unit boasts an open-concept layout, featuring modern galley kitchens equipped with stainless steel appliances, cozy rock fireplaces, oversized bedrooms, and two full bathrooms. The exterior showcases Texas Hill Country limestone, mature landscaping, and private outdoor spaces, minimizing yard maintenance. The property is zoned for townhomes and enjoys a prime location, just a five-minute walk from downtown San Marcos, the San Marcos River, and Texas State University. The current Net Operating Income (NOI) stands at $34,722, yielding a 4.79% cap rate, with an asking price of $725,000 ($362,500 per unit) and a price per square foot of $257.09. This is a rare opportunity to acquire a turnkey, high-performing multifamily investment property in a desirable location, free from homeowner's association fees. The property is currently fully leased, and tenant privacy must be respected.