Unique covered land play with solid current income and long term development upside. Location just out San Marcos city limits in the ETJ , mid- to long-term highest and best is likely to development multi-story apartment complex to serve San Marcos and its explosive long term growth. San Marcos and Central Hays Co is perhaps the most strategic location in the state for investors with a long horizon, centrally located between Austin and San Marcos along the I-35 corridor, ideal for a long term income development play. San Marcos projected to reach over 140,000 residents by 2035. Robust rental market with the additional growth of Texas State, itself projected to reach over 50,000 students by 2033. Currently 14 rental units of various size and era. Owners made substantial improvements in 2022-2023 to stabilize the property, substantially increasing Gross Rents and Operating Income YOY even in a soft rental market. 2025 Total Operating Income over $180,000, NOI just over $60,000. Entry level units that have low vacancy rates in the competitive San Marcos rental market. Recently built Whispering Pointe Apartments is the perfect template for the long term development play, only 0.4 miles to the north on Harris Hill, as critical infrastructure continues to get closer to the site. Being in the ETJ and unrestricted, proximity to central San Macros with none of the challenges of developing in the city. The city limit is literally on the rear property line. Solid current income with clear long term growth and development upside. Unique opportunity to get into this highly sought after, high growth area. Contact LA for more detailed information.
Features of 1321 Harris Hill Rd
MLS® #
7114819
Price
$1,290,000
Bathrooms
0.00
Acres
2.44
Year Built
1980
Type
Commercial
Sub-Type
Multi Family
Status
Active
Has Pool
No
Water Feature/View
View
None
Is Waterfront
No
Community Information: San Marcos
Address
1321 Harris Hill Rd
Area
HS
Subdivision
none
City
San Marcos
County
Hays
State
TX
Zip Code
78666
Amenities of 1321 Harris Hill Rd
Utilities
Electricity Connected, See Remarks, Water Connected, Above Ground Utilities
Parking
None
Interior of 1321 Harris Hill Rd
Interior
Carpet, Vinyl, See Remarks
Heating
See Remarks
Fireplace
No
Exterior of 1321 Harris Hill Rd
Lot Description
Level
Construction
Frame, Metal Siding, Vinyl Siding
Foundation
Pillar/Post/Pier, Raised
Additional Information On 1321 Harris Hill Rd
Days on Market
257
Zoning
None, unrestricted in Cit
Foreclosure
No
Short Sale
No
RE / Bank Owned
No
Gated Community
No
Property History
Price Reduced from $1,349,000 to $1,290,000
Price Reduced from $1,399,000 to $1,349,000
Price Reduced from $1,450,000 to $1,399,000
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing Data Provided By: Texas Ally Real Estate Group(512) 763-2559. Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from September 28th, 2026 at 9:01am CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. All information provided is deemed reliable but is not guaranteed and should be independently verified.
