R Squared | 140 S Fredericksburg St
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R Squared 140 S Fredericksburg St
14 Unit Apartment Building $3,500,000 ($250,000/Unit) 5.30% Cap Rate San Marcos, TX 78666
Executive Summary
Nestled in the heart of the vibrant San Marcos community, this multifamily rental property presents an exceptional opportunity for seasoned investors and newcomers alike. With its prime location, modern amenities, attractive features and year built of 2019, "R Squared" offers the perfect blend of comfort, convenience, and investment potential. Each unit is thoughtfully designed to provide residents with a comfortable and contemporary living experience. From spacious floor plans to stainless kitchen appliances and stylish finishes, tenants will feel right at home in these inviting spaces. Situated in the San Marcos downtown area, this property enjoys proximity to major attractions, educational institutions such as Texas State University, bustling shopping centers, and recreational hotspots. Whether you're targeting young professionals, students, or families, the diverse range of unit sizes caters to various tenant preferences, ensuring high occupancy rates and steady cash flow.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$259,440
|
$23.59
|
| Other Income |
$5,400
|
$0.49
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$264,840
|
$24.08
|
| Taxes |
$41,464
|
$3.77
|
| Operating Expenses |
$45,727
|
$4.16
|
| Total Expenses |
$87,191
|
$7.93
|
| Net Operating Income |
$177,649
|
$16.15
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $259,440 |
| Annual Per SF | $23.59 |
| Other Income | |
|---|---|
| Annual | $5,400 |
| Annual Per SF | $0.49 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $264,840 |
| Annual Per SF | $24.08 |
| Taxes | |
|---|---|
| Annual | $41,464 |
| Annual Per SF | $3.77 |
| Operating Expenses | |
|---|---|
| Annual | $45,727 |
| Annual Per SF | $4.16 |
| Total Expenses | |
|---|---|
| Annual | $87,191 |
| Annual Per SF | $7.93 |
| Net Operating Income | |
|---|---|
| Annual | $177,649 |
| Annual Per SF | $16.15 |
Property Facts
| Price | $3,500,000 | Building Class | A |
| Price Per Unit | $250,000 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 11,000 SF |
| Cap Rate | 5.30% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | A |
| Lot Size | 0.30 AC |
| Building Size | 11,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2020 |
| Parking Ratio | 1.45/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Vaulted Ceiling
- Double Pane Windows
- Family Room
- Island Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,485 | 570 |
| 2+1.5 | 7 | $1,925 | 980 |
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Walk Score ®
Walker's Paradise (95)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | R41580 | Total Assessment | $2,232,946 |
| Land Assessment | $326,200 | Annual Taxes | $41,464 ($3.77/SF) |
| Improvements Assessment | $1,906,746 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R41580
Land Assessment
$326,200
Improvements Assessment
$1,906,746
Total Assessment
$2,232,946
Annual Taxes
$41,464 ($3.77/SF)
Tax Year
2024
zoning
| Zoning Code | CD-4 |
| CD-4 |
-
Monica Malorgio Katz -
mcnabb & co real estate services
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R Squared | 140 S Fredericksburg St
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