$2,300,000
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15,392 SqFt
SOLD DATE : 02/04/2022
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 15,392 sqft
Price per Sqft $145
Subdivision Pecan Cove Apartments
MLS Listing ID 4231200
Sold Date 02/04/22
Year Built 1976
Tax Year 2021
Lot Size 1.500 Acres
Acres 1.5
Property Sub-Type Apartment
Source actris
Property Description
Rare turn key cash flow investment opportunity! Pecan Cove Apartments totalling 20 units currently at 100% occupancy. Unit mix of (19) 2 bed 1 bath and (1) 1 bed 1 bath. Currently averaging $850/unit and $17K gross monthly income with upside in the rents. Tenants pay utilities except trash. Estimated 6.2% cap rate. Fantastic location 2 miles from I-35 near intersection of Highway 80 and Highway 21. Close to Wal-Mart, Texas State University, and San Marcos River. Property offers central HVAC and on-site washer/dryers. Most units have been remodeled and feature wood laminate flooring. Outside city limits. San Marcos ETJ. OPPORTUNITY ZONE! 5 lots totaling roughly 1.5 acres. Frontage on Martindale Road and San Marcos Highway (Hwy 80).
Location
State TX
County Caldwell
Area Cc
Interior
Heating Central
Cooling Central Air
Flooring Vinyl
Fireplace N
Exterior
Utilities Available Electricity Connected, Water Connected
Accessibility None
Total Parking Spaces 10
Building
Foundation Slab
Sewer Septic Tank
Water Public
Structure Type Brick Veneer,Vinyl Siding
New Construction No
Others
Restrictions None
Acceptable Financing Cash, Conventional
Tax Rate 1.977
Listing Terms Cash, Conventional
Special Listing Condition Standard
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