400 Eagles Nest DR Active Save Request In-Person Tour Request Virtual Tour
Wimberley,TX 78676
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,651 sqft
Price per Sqft $169
Subdivision Eagles Nest
MLS Listing ID 7145847
Year Built 1979
Annual Tax Amount $13,653
Tax Year 2023
Lot Size 2.000 Acres
Property Description
Prime rental property for sale in Wimberley, TX. This Investment property on 2 acres of unrestricted land has a tri-plex building with Units 5, 6, 7, built in 2006 and additional land where a single row of building units 1, 2, 3 & 4 previously stood but were unfortunately lost in a fire in 2022. All tri-plex units are currently leased with 2 expiring in late spring of 2025. Healthy market rents are being achieved (1350.00 per month). New deck on all units on this well maintained property. The price is reflective of rent/price ratio and recent sales comps of near by small multi-unit properties in the past year. This valuation method takes into consideration the tri-plex income and the remaining unrestricted land value. The valuation does not take into consideration any pro-forma values for the previous properties nor does it apply a premium on the land where the properties previously were. The replacement of the previous 4 rental units and addition of more on the remaining land could easily double the value (or more) of this property allowing the investor to realize instant equity and cash flow for years to come in a thriving area for essentially replacement costs of the buildings. This is an experienced investors ideal property with the potential to be a long term hold. This is an excellent opportunity that doesn't come around often. Please contact agent for showing requests. Please do not disturb the tenants. All site visits should be facilitated through the listing agent.
Location
State TX
County Hays
Interior
Heating Central,Electric
Cooling Central Air
Flooring Carpet,Vinyl
Exterior
Exterior Feature Balcony
Fence Wire
Community Features None
Utilities Available Electricity Available
Waterfront Description None
View Hill Country
Roof Type Metal
Building
Lot Description Irregular Lot,Views
Foundation Slab
Sewer Septic Tank
Water Well
Structure Type Wood Siding
New Construction No
Schools
Elementary Schools Jacobs Well
Middle Schools Danforth
High Schools Wimberley
School District Wimberley Isd
Others
Special Listing Condition Standard
Pets Description All