1.9 +/- ACRES - 1700 block of Water St. in Kerrville. Approximately one mile southeast of downtown. Mostly level land - rear of the property slopes down to the river. 200' on the beautiful GUADALUPE RIVER. Tall Cypress trees along the waters edge.
Eight residential rental units as follows:
Free standing home 2-1 brings $400/month. Tenant pays utilities.
Five-plex brings $90 - $120 each unit weekly ($510). Landlord pays utilities.
Two-story apartment (one up & one down) brings $212.50 total weekly ($92.50 & $120). Landlord pays utilities.
Monthly income is approximately $3,290 when 100% occupied - actual $2100 in 2014.
Monthly expenses (electricity, water, gas, garbage, repair/maintenance, supplies) are approximately $1,370.
Property Taxes just under $3100 in 2014.
Buildings are in poor condition, but stay mostly rented with several long term tenants. Commercial/business zoning within the city limits of Kerrville. Excellent potential near downtown Kerrville. Immediate income. Growth area of town.
Pictures available upon request.
Price reduced from $359,000 March 2015.
Property tax rolls show the property as 1.2 acres but it is believed the correct acreage to be 1.9 acres.
Less than one mile southeast of downtown Kerrville on west side of Water St.
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