1321 Harris Hill Rd,San Marcos, TX 78666
San Marcos, TX 78666
Description
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.
Details
| MLS # | 7114819 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1980 |
| Days On Site | 228 |
| Listing Provided By | Texas Ally Real Estate Group | David Mosrie |
Features
| SQ Feet | 10,760 |
|---|---|
| Building(s) | 12 |
| Zoning | None, unrestricted in Ci |
| Acreage | 2.44 |
| Property View | None |
Interior
| Cooling | See Remarks |
|---|---|
| Heating | See Remarks |
| Flooring | Carpet, Vinyl, See Remarks |
Exterior
| Foundation Details | Pillar/Post/Pier, Raised |
|---|---|
| Topography | Level |
| Construction Materials | Frame, Metal Siding, Vinyl Siding |
Parking
| Parking Features | None |
|---|
Utilities
| Utilities | Above Ground, Electricity Connected, Water Connected, See Remarks |
|---|---|
| Sewer | Shared Septic |
Other
| List Aor | Austin Board Of Realtors |
|---|
Area Information
| State | TX |
|---|---|
| County | Hays |
| City | San Marcos |
| Zip Code | 78666 |
| Area | HS |
| Listing VS Median (in 78666) | |
Price: $1,290,000 low | high Med: $304,000 sqft: 10,760 low | high Med: 1,566 $ / sqft: $120 low | high Med: $194 On site: 228 low | high Med: 179 | |
Market Activity 78666
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Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of August 30, 2026 at 11:41:51 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Learn More About This Property
| State | TX |
|---|---|
| County | Hays |
| City | San Marcos |
| Zip Code | 78666 |
| Area | HS |
| Listing VS Median (in 78666) | |
Price: $1,290,000 low | high Med: $304,000 sqft: 10,760 low | high Med: 1,566 $ / sqft: $120 low | high Med: $194 On site: 228 low | high Med: 179 | |
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