PRICE REDUCED - 19.8+/- Acre Multifamily Site San Marcos, TX
Land | 19.8 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase a 19.8+/- acre entitled multifamily development Site located along Hunter Road, less than a half mile northwest of Interstate 35, in San Marcos, TX (the “Site”). The Site comes with fully engineered plans for a 297 unit, 3-story garden-style build out within 14 buildings. The Seller will convey the following at closing: architectural plans, engineering plans, and select third party reports. The Site is accessible via Hunter Road and is very close to the San Marcos Premium Outlets, HEB, Starbucks, and Target. The Site is located within a Tax Increment Reinvestment Zone (TIRZ) with potential funds reserved to reimburse developers for select eligible expenses, Purchaser to verify.
This exceptionally well-located Property recently had its price reduced from $22,559 per unit down to a price of only $19,500 per developable unit.
To gain access to the Due Diligence Vault click on the link below:
Due Diligence Vault - San Macros Multifamily Site
A 1.25% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity; co-brokers must register their client with VREA at initial contact.
Investment highlights
Strategic Location
- The 19.8+/- acre Site is well located along Hunter Road less than a half mile west of Interstate 35.
- Near the Site are retailers such as HEB, Starbucks, Target, and numerous national retailers contained within the San Marcos Premium Outlets.
- The Site is located within San Marcos Consolidated ISD. Nearby schools within the Sites attendance zone, less than a mile from the Site, include San Marcos High School, Miller Middle School, and Rodriguez Elementary School.
- Additionally the Site is within a Qualified Census Tract.
Zoning
- The Site is zoned through a Planned Development District allowing for up to 15 units per acre density.
- The owner has a permit set of engineering and architectural plans they will convey to a Purchaser at Closing along with select third party reports.
- Ownership has indicated the following permits are still valid; Site Prep (exp. 6/29/25), PCIP (exp. 2/10/25), and building (exp. 7/30/26). TxDot driveway permits will need to be re-issued; this is the responsibility of Purchaser.
- Remaining costs for a purchaser include impact fees/building permit fees, which ownership estimates will cost approximately $938K.
- Purchaser to do their own due diligence related to the zoning, unit count, cost of impact fees, and status of existing plans.
Population and Demographics
- Per the US Census Bureau, the population of San Marcos is 72,686 and has grown by over 6% since 2020.
- San Marcos is projected to have an annual population growth rate of 1.7% this year.
- Average median household income within a one-mile radius per Esri is $104,933.
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