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).
Courtesy of Land Up Realty & Investments
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