Rare existing income + development potential opportunity in rapidly growing San Marcos. 12 rental units with value add potential on a 2.5 acre parcel with desirable MF-24 zoning. Per zoning, up to 60 units total possible. All units are 3br / 3ba with ample covered parking, ideally configured for student / roommate rentals and in close proximity to Texas State University. Previous owner was focused on a large multi-family development project and allowed leases to go month-to-month, falling to 50% occupancy, at well below market rents, did not realize the full income potential of the property. Frontage on two city streets, all utilities on site, only a small portion of the property currently built on. Solid income property under proper management, in addition to any future development potential, numerous investment strategies and exits possible. In the heart of booming central Hays Co - fastest growing county in the country (2010-2020 census data) right along the I-35 corridor.

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