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 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.
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Location Insight
- Map
- Local Demand
- City
- San Marcos
- County
- Hays
- State
- Texas
- Longitude
- -97.91887
- Latitude
- 29.895489
