Description
Large scale rental community! 66 houses, 18 manufactured homes, 7 lots for rent to mobile homes, and room to expand up to 30 more houses on 7 tax parcels totaling more than 32 acres. Great location, just off Highway 46, 4 miles to Seguin, 6 miles to New Braunfels in booming area. possible owner carry at 6% with 20% down payment. monthly debt service would be $67,000. Super low taxes,Current rent roll is $400 per unit below market for the area, as current owner has not raised rents in more than 10 years. Current cap rate at 5.54, but easily improved to over 13% with minimal rent increases and seller financing . All properties have city water, city electric, individual septic systems. Multiple wells on property, used for landscape water source. Just 1/2 mile to Guadalupe River. all measurements and numbers are approximate and to the best of our knowledge
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0BEDS
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32ACRES
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0BATHS
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01/2 BATHS
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90,293SQFT
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$155$/SQFT
Description
Large scale rental community! 66 houses, 18 manufactured homes, 7 lots for rent to mobile homes, and room to expand up to 30 more houses on 7 tax parcels totaling more than 32 acres. Great location, just off Highway 46, 4 miles to Seguin, 6 miles to New Braunfels in booming area. possible owner carry at 6% with 20% down payment. monthly debt service would be $67,000. Super low taxes,Current rent roll is $400 per unit below market for the area, as current owner has not raised rents in more than 10 years. Current cap rate at 5.54, but easily improved to over 13% with minimal rent increases and seller financing . All properties have city water, city electric, individual septic systems. Multiple wells on property, used for landscape water source. Just 1/2 mile to Guadalupe River. all measurements and numbers are approximate and to the best of our knowledge
© 2023 San Antonio Board of REALTORS® All rights reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or The Glover Homes & Land Group at Keller Williams Heritage. Last updated 2023-02-05T20:32:30.98.