1400 Avenue Hondo, TX 78861
- Residential income homes
- 7,976 SF
- 0.29 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 1400 Avenue
- Lot size
- 0.29 lot acres
- Property size
- 7,976 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity encompasses three separate income-producing properties located in Hondo and D'Hanis, Texas. The portfolio includes a total of 17 rental units spread across three locations: 3002 Ave E, 1400 Ave W (both in Hondo), and 521 FM 2200 S in D'Hanis. The properties boast a combined square footage of 7,976 and sit on lots ranging from 0.29 to 1.43 acres. Built between 1971 and 1999, these Class B properties are currently 100% occupied (except for the D'Hanis property, which has 88% occupancy). The owner reports an approximate annual gross income of $153,000 and gross operating expenses of approximately $30,000, resulting in a net operating income of $123,000. Lease terms vary, with most units on multi-month leases, but the owner has a 45-day termination option on all. The Hondo properties are not located in a flood zone. All properties benefit from excellent locations, with paved road frontage, and are served by public utilities (electric, water, and sewer). Sufficient parking is available for all units, though it is uncovered. Detailed rent rolls are available upon request. This portfolio presents a compelling opportunity for investors seeking a strong return on investment in a stable market. Zoning is Multi Single Family & Single Family Residential.
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
- Hondo
- County
- Medina
- State
- Texas
- Longitude
- -99.152650549921
- Latitude
- 29.351108759402
