Scale & Optionality: At ~28 acres near Texas State, the site has strong long-term potential for multifamily or student housing development. The conceptual layout suggests capacity for a large-scale project, though most developers will likely underwrite a reduced density scenario initially. Infrastructure Considerations: Based on the utility maps, water and wastewater will need to be extended to the site, and the property sits in the San Marcos ETJ. Developers will typically factor those infrastructure costs and entitlement risk into their land basis. Developer Underwriting: When applying current construction costs, cap rates, and typical land residual assumptions for multifamily in the San Marcos market, most developers will likely build closer to 650-800 units rather than maxing out the 1,000+ units.
Details
MLS #
7163656
Listing Type
For Sale
Sub-Type
Resale
Status
Active
Days On Site
160
Listing Provided By
eXp Realty, LLC | Soomin Kim
Features
Acreage
37.83
Water Front
Yes
Property View
Rural, Trees, Woods
Exterior
Lot Features
Agricultural, Cleared, Few Trees, Level, Trees-Moderate
Utilities
Utilities
Cable Available, Electricity Available, Sewer Available, Water Available
Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of September 22, 2026 at 4:58:22 PM 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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