$2,300,000
748 Martindale Road, San Marcos, TX
15,392
Square feet
1.50
Acres
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).
Facts & Features
| ListingFeed | abor_vow |
|---|---|
| MLS® # | 7503663 |
| List Price | $2,300,000 |
| Sale Price | $2,245,000 |
| Sale Date | February 4th, 2022 |
| Bathrooms | 0.00 |
| Square Footage | 15,392 |
| Acres | 1.50 |
| Year Built | 1976 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Closed |
Community Information
| Address | 748 Martindale Road |
|---|---|
| Subdivision | PECAN COVE APARTMENTS |
| City | San Marcos |
| County | Caldwell |
| State | TX |
| Zip Code | 78666 |
Amenities
| Utilities | Electricity Connected, Water Connected |
|---|---|
| Features | Park |
| Parking | Off Street |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Vinyl |
|---|---|
| Appliances | Cooktop, Dishwasher, Electric Oven, Refrigerator |
| Heating | Central |
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Exterior Features | Balcony |
|---|---|
| Lot Description | Trees Large Size |
| Windows | Blinds |
| Roof | Composition |
| Construction | Brick Veneer, Vinyl Siding |
| Foundation | Slab |
School Information
| District | San Marcos ISD |
|---|---|
| Elementary | Crockett |
| Middle | Goodnight |
| High | San Marcos |
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |