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Jeannette Spinelli

Broker Associate & Founder | Spinelli Residential Group | KW - Austin Portfolio Real Estate

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1321 Harris Hill Rd , San Marcos, TX 78666
$1,290,000
Est. Payment: $6,491.75/mo
0 Bed
0 Bath
10760 Sqft
Status: active | Days on site: 175
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Jeannette Spinelli
Broker Associate & Founder
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House 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.
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Highlights

Listed by David Mosrie , (512) 516-9722 Texas Ally Real Estate Group , (512) 763-2559. Austin MLS mls logo

Property Type

Commercial Sale
Lot/Acreage
2.44

Year Built

1980

County

Hays

Area

HS

Listing ID

7114819

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Floor:Carpet,See Remarks,Vinyl
Other:Public

Exterior Features

Lot:Level
Zoning:None, unrestricted in City ETJ
Others:See Remarks
Sewer:Shared Septic
Principal Interest
$6,492
Taxes
$822

Home Price

$1,290,000

Loan Details

30 yrs
6.454%

Down Payment

20%
$258,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$6,491.75

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,491.75 $822.38 $0.00 $7,314.13
Yearly $77,901.04 $9,868.50 $0.00 $87,769.54
Total $2,337,031.22 $296,055.00 $0.00 $2,633,086.22

Today's Rates

30 Year

6.45%

20 Year

6.2%

15 Year

5.87%

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Market insight data is pulled from the same city as the listing being viewed (San Marcos, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. 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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Listings courtesy of Austin MLS as distributed by MLS GRID

IDX service by Blueroof 360

Data last updated: 2026-07-19T19:31:28.000Z

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