2 Duplexes on 10 acres,commercial/unrestricted.Available uses: RV Park, hotel/motel, offices, you name it. Bldg A & B are identical at 1186sf ea side w/2 beds & 2 ba.Each w/covrd 2 car carort for prkng,utility w/washer/dryers,storage & outdoor patio area.Exter rock & metal. Sep Bldg for C & D. C = 2bd/1ba at 1092 sf w/outdoor patio, washer dryer connections & D = 1bd/1ba at 797 sf & covrd patio area. Storage area for tenants. Metal bldg w/metal roof. Income producing potential.
Unit #1 2-story (2714) Built/1999 Nice 3bed 2.5 bath 2 car gar, tile, granite kit, large master w/jet tub &shower, balcony w/view; lg bedrooms, Newer AC; tenants out end of August. Unit #2 (2716) Duplex Unit A 2-story 2/1, laminate floors, very good condition; Unit B (downstairs) 2/1 (pass-thru 1 bed to 2nd) -- needs a little TLC (leased until May 2015). Unit #3 1 story(2720) Built 1970's is large ranch-style home, 3 beds, 2 bath with spa room off master, also study/nursery off master, 2 large living areas; f/p long covered front porch; covered back porch, fenced yard (leased 6/15)
With traditional 30-year mortgage rates hovering around 4%, direct multi-family real estate ownership is a much better alternative for investors seeking investment income yield, with current cap rates in San Marcos now averaging around 6-7%. Based upon trailing 12-month financials (ending Feb 2015), the cap rate of this property is 6.7%-7.5%. Fenway Loop is an oasis of relative tranquility compared to some of the surrounding streets. The dead-end nature of Fenway Loop decreases thru-traffic (except for the Texas State Shuttle) so that the residents can enjoy a more peaceful living experience.