313 Mill St San Marcos, TX 78666
- Commercial real estate
- 1,274 SF
Current Use by Public Records
- Commercial real estate
Property Details for 313 Mill St
- Year built
- 2023
- Property size
- 1,274 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity in San Marcos, Texas, featuring a brand-new, four-unit multifamily property situated at 313 Mill Street, 78666. This property boasts two modern buildings, each housing two units, constructed in 2023. The complex enjoys a 100% occupancy rate, with current rents ranging from $2,500 to $3,000 per month, achieving a market rent of $2.05 per square foot. Each unit offers a spacious layout, including two bedrooms, a study, three bathrooms, and two living rooms, totaling approximately 1,710 square feet of net rentable space. High-end finishes include wood floors and stainless steel appliances. Residents enjoy front and rear balconies, providing ample natural light. The property's location is highly desirable, just half a mile from Texas State University and two blocks from Aquarena Drive, a main thoroughfare to I-35. The two buildings sit on a combined lot size of 9,583 square feet (.22 acres). The asking price is $1,760,000, representing $440,000 per unit, with a 5.90% cap rate. Annual property taxes total approximately $18,125.34, and annual insurance costs are $9,571.22. Condo association fees are $125 per unit per month. The property is ideally suited for young families, professors, and young professionals. This turnkey investment offers strong cash flow and significant potential for appreciation.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Marcos
- County
- Hays
- State
- Texas
- Longitude
- -97.91887
- Latitude
- 29.895489
