3002 AvenueHondo, TX 78861

Property Details for 3002 Avenue

Year built

1974

Lot size

1.97 AC

Property size (Sq ft)

24,912 SF

Property type

Commercial real estate

APN

8473

APU

8473

Description

This exceptional investment opportunity encompasses three income-producing properties in Hondo and D'Hanis, Texas. The portfolio includes a total of 17 rental units spread across three buildings, totaling 7,976 square feet on approximately 2.04 acres of land. Two properties are located in Hondo, situated on 0.32 and 0.29 acres respectively, both conveniently located on paved city streets. The third property, situated on 1.43 acres, is located in D'Hanis, Texas, fronting paved FM 2200. Built between 1971 and 1999, these Class B apartment buildings boast a current occupancy rate of 100% for the Hondo locations and 88% for the D'Hanis location. The properties are zoned for multi-family and single-family residential use and are served by public utilities (electric, water, and sewer). Sufficient uncovered parking is available for all units. The seller reports an approximate annual gross income of $153,000 and gross operating expenses of approximately $30,000, resulting in a net operating income of approximately $123,000. Detailed rent rolls are available upon request. The Hondo properties are not located in a flood zone. This package presents a compelling opportunity for investors seeking a strong return on investment in a stable market. This is a For Sale By Owner listing.

• CAP approach

  CAP return

  Valuation

  6%

  $5,248,040

  6.5%

  $4,844,340

  7%

  $4,498,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,661,750

  Geo Method

  $5,661,750

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,881,950

  Retail / Commercial

  $4,999,960

  Mixed-Use / Specialty

  $4,928,990

  Hospitality / Lodging

  $3,547,040

  Office

  $4,844,340

  Institutional / Educational

  $5,105,160

  Residential Income

  $5,973,040

  Multifamily

  $7,458,410

  Automotive / Energy

  $4,375,850

  Parking / Income-Based Land

  $1,562,570

  Restaurant / Food Service

  $2,450,170

  Healthcare / Senior Housing

  $5,109,090

Location Insight

City

Hondo

County

Medina

State

Texas

Latitude

29.3364

Longitude

-99.1467

CBSA code

41700

CBSA name

SAN ANTONIO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].