San Marcos TX Multi-Family Real Estate, Homes for Sale

Opportunity knocks for a well kept fully leased duplex in San Marcos! Each side is a very clean 3 Bedroom 3.5 Bath duplex with each lease going through July of 2027. No carpet. Flooring is wood like tile or laminate through out each unit. Granite counter tops and backsplash. Units come with stainless steel appliances including washer/dryer. Attached is a 2 car garage for each side. Each side has back yard with privacy fence. On the Texas State Shuttle route. Brand new roof August 2026. Each side had a full make ready. All pictures are from August 2026.

862-864 Sagewood Trl, San Marcos

$125,000

7987296 MLS ⋅ 78666 Zip Code

A 5,249 SF (0.12 acre) infill lot zoned Mixed Use (MU) under the City of San Marcos Land Development Code, located just blocks from downtown San Marcos and Texas State University, home to a record 44,630 students as of fall 2025. The MU district permits small-scale mixed-use buildings with residential units above retail or office space, plus single-family, townhouse, and loft-apartment uses by right. Multifamily uses, including duplex, triplex, and apartment configurations, are allowed within MU but require Planning & Zoning Commission approval of a Conditional Use Permit rather than by-right development; the existing structure's current triplex use may carry legal nonconforming status, which buyers should independently confirm with the City. Property is offered strictly AS-IS with no interior access or showings available, and is best suited for investors or builders comfortable navigating the City's entitlement process. San Marcos has grown from roughly 44,900 residents in 2010 to over 71,500 today, part of the broader Austin-Round Rock-San Marcos MSA, which has grown to nearly 2.5 million residents and remains one of the fastest-growing large metro areas in the country. The lot sits just off a high-visibility corner anchored by the beloved M&M Taco Corner. Buyer to independently verify all zoning, use, CUP requirements, and nonconforming-use status with the City of San Marcos Planning & Development Services Department prior to closing.

125 S Bishop St, San Marcos

$575,000

1083969 MLS ⋅ 78666 Zip Code

Fourplex investment opportunity approximately one mile from Texas State University with existing long-term rental income and an active short-term rental. Three of the four units are currently leased, while the fourth is operated as an Airbnb, offering a mix of traditional and short-term rental use in one property. Each unit features a 2-bedroom, 1-bath layout with an open living area, stone fireplace and kitchen with a breakfast bar. Depending on the unit, outdoor spaces include private entrances, balconies, a porch and patio areas, all surrounded by mature trees. Major improvements have already been completed, including a roof approximately two years old, remodeled kitchens and foundation work. Natural stone accents and wood siding give the two-story property plenty of character, while the setting offers views of the surrounding hills and wooded area. Located approximately one mile from Texas State University, 811 Bracewood offers convenient access by bike or car to campus, with downtown San Marcos, dining, shopping and recreation nearby. With four separate units, three existing long-term leases and an established short-term rental setup, this property offers multiple income streams and flexibility for an investor looking to add a multifamily property in San Marcos.

811 Bracewood Cir, San Marcos

$425,000

4064365 MLS ⋅ 78666 Zip Code

Well-maintained duplex for sale in the sought-after Hughson Heights neighborhood of San Marcos, featuring two identical 3-bedroom, 2.5-bath, two-story units, each with its own 2-car garage. Each side offers an open first-floor layout with living room, dining area, kitchen, and half bath, plus three bedrooms and two full bathrooms upstairs. Fresh paint and durable luxury vinyl plank (LVP) flooring throughout with no carpet. Private shaded backyards (unfenced) add outdoor space. Ideally located about 1 mile from Texas State University for strong student rental demand and campus convenience, near Ringtail Ridge Natural Area trails, local parks, and the San Marcos River, with quick I-35 access putting Austin approximately 30–35 minutes away. Excellent investment property or dual-living opportunity in a high-demand Hays County location near TXST.

945-947 Sagewood Trl, San Marcos

$324,900

1452132 MLS ⋅ 78666 Zip Code

Investment Opportunity – Updated Duplex in a Quiet San Marcos Location. Don't miss this hidden gem in San Marcos, conveniently located near Wonder World Park. This well-maintained duplex features two 2-bedroom, 1-bath units, making it an excellent investment or owner-occupant opportunity. Situated on a private driveway in a quiet, secluded setting, the property has seen numerous recent updates, including a new roof (2025), new exterior paint (2025), and no carpet throughout for easy maintenance. Unit B was extensively remodeled in 2025 and features include Wood-look flooring throughout, Granite kitchen countertops, Updated fixtures, and Fresh interior paint. Unit A is currently available for rent at $1,350 per month, offering immediate income potential or the perfect opportunity for an owner to occupy one unit while renting the other. This unit also features fresh interior paint, wood-look flooring and a welcoming front deck. Whether you're looking to expand your investment portfolio or purchase a home with rental income potential, this move-in-ready duplex offers flexibility, recent updates, and a desirable location in San Marcos. Also next door there duplex lot available for sale.

1103 Hillyer St Unit A/B, San Marcos

$599,000

5500794 MLS ⋅ 78666 Zip Code

Updated 4 plex in the heart of San Marcos. Each unit is a 2/1 with washer and dryer hook ups in each unit. The lower levels have a private fenced in patio. Each unit has a 2 car parking space out front. Easily rented and lots of action for this amazing San Marcos area. Roof replaced in 9/2026 and units A and C just had a fresh coat of paint added.

608 Bracewood Cir, San Marcos

$1,450,000

3812960 MLS ⋅ 78666 Zip Code

This expansive 10+ acre property includes multiple residences and a workshop. House and rooms are labeled on top right of the pictures. ---- Main Home (3424 B): The primary residence features two living areas, a formal dining room, a breakfast nook, a sunroom, and a covered patio. Additional highlights include a spacious three-car garage, three bedrooms, two bathrooms, and an office/flex space. ---- House C (located directly behind the main home): This home offers a covered patio, a large living area, a shared kitchen and dining space with a small laundry space. It includes three bedrooms and two bathrooms. ---- House D (newest home, located on the far right side of the property): Designed with a welcoming foyer, this home opens into a centrally located living room. It also features a dining area, kitchen, laundry room with access to a two-car garage, and a covered patio. The layout includes three bedrooms, three full bathrooms, and one half bath. ---- Workshop: A versatile two-room workshop with its own covered patio. The asphalt slab has an RV connection with water, power and septic to support 2 RVs. ---- Property notes: Each home has it's own fiber internet line, and the back 8 acres are under AG exemption. ---- Appliances: Dishwasher, Free-Standing Gas Range, Gas Water Heater, Microwave, Stainless Steel Appliance(s) All appliances are electric. Water/Heating/AC is electric as well, with option to move to gas but not currently using gas, Interior Features: Crown Molding, Open Floorplan, Pantry, Workshop, Parking Features: Asphalt, Attached, View: Panoramic, Rural, Water Source: Public, Tax Rate: 1.52, Unit 1Furnished: Unfurnished, Unit 2Furnished: Unfurnished, Unit 3Furnished: Unfurnished

3424 S Old Bastrop Highway, San Marcos

$500,000

5029539 MLS ⋅ 78666 Zip Code

Investor opportunity in the heart of San Marcos! This well-maintained quadplex offers four 2-bedroom, 1-bath units totaling approximately 3,228 square feet on a 9,190-square-foot lot. Built in 1983, the property is ideally located just minutes from Texas State University, downtown San Marcos, IH-35, shopping, dining, and major employers. of Central Texas' fastest-growing markets. , shopping, and dining

801 Bracewood Cir, San Marcos

$400,000

9461382 MLS ⋅ 78666 Zip Code

This rare side-by-side duplex at 903-905 Hillyer St offers an outstanding opportunity for investors or owner-occupants in one of San Marcos’ most convenient and desirable neighborhoods. Both units have been beautifully updated with full remodels completed within the last 3 years, including a new roof installed in 2026, new gutters, fresh exterior and interior paint, and modern finishes throughout. The property consists of two 3-bedroom, 2-bathroom units with a large, fully fenced backyard. Unit 905 is currently vacant and move-in ready, allowing a buyer to live in one side immediately while collecting income from the other. Unit 903 is leased through April 30, 2027, providing immediate cash flow and long-term stability. Each unit features open living areas with laminate hardwood-style flooring, updated functional kitchens with pantry space, and full-size washer/dryer connections. The layouts are practical and comfortable, with central HVAC systems and separate utility meters for easy management. The generous backyard offers privacy and plenty of room for pets, entertaining, or outdoor enjoyment, while off-street parking accommodates multiple vehicles. Located less than a mile from Texas State University, this duplex is within walking or biking distance to campus, downtown San Marcos, the San Marcos River, and nearby parks. Residents enjoy quick access to excellent schools, shopping, dining, and outdoor recreation, with commutes of about 15 minutes to New Braunfels and 25 minutes to Austin. Strong rental demand from students, professionals, and families makes this a proven performer with excellent income potential. Whether you’re looking to house-hack, generate reliable rental income, or accommodate multi-generational living, this turnkey duplex delivers versatility, modern updates, and strong value in a high-demand market. Don’t miss this hard-to-find opportunity in San Marcos. Schedule your showing today to experience the property and location firsthand.

903-905 Hillyer St, San Marcos

$375,000

5049275 MLS ⋅ 78666 Zip Code

Welcome to 921–923 Sagewood Trail — a fantastic duplex opportunity in the heart of San Marcos, TX! Whether you're a savvy investor building your portfolio or an owner-occupant looking to offset your mortgage, this property delivers the perfect blend of location, lifestyle, and value. Each side features 3 spacious bedrooms, 2.5 baths, and a 2-car garage. One unit is currently occupied with a paying tenant — the other side is vacant and ready for you to move right in (or lease immediately for maximum income from day one). All appliances are included, making this a truly turnkey opportunity. Located just minutes from vibrant downtown San Marcos and Texas State University, and only blocks from the university shuttle route, this duplex puts everything your residents need right at their doorstep. Whether your tenant is a grad student, a young professional, or a Bobcat family, demand in this corridor stays strong year-round. Beyond campus, San Marcos offers an unmatched lifestyle: float the legendary San Marcos River, soak up the sun on its banks, and shop 'til you drop at the San Marcos Premium Outlets — one of the largest outlet destinations in the state. Positioned perfectly between Austin and San Antonio, residents enjoy easy access to two of Texas's major metros without the big-city price tag. Don't miss your chance to own in one of Central Texas's most desirable and fastest-growing markets. This one won't last!

921-923 Sagewood Trl, San Marcos

$355,000

6769786 MLS ⋅ 78666 Zip Code

Are you looking for your next investment or for a property that will pay for itself? This may be the property that you are looking for! Multifamily residential. It features two units: one 2-bedroom/1-bath and one 1-bedroom/1-bath, offering a great opportunity for either an investor or a buyer. Fully leased and great income producing property. Great opportunity for investor or buyer. Live in one side and make income off of the other unit or rent both units! Great proximity to IH35, near rivers, Texas State, Shops, restaurants, hospitals and more. There is potential to purchase 5 other duplexes

1011 Hackberry St Unit A&B, San Marcos

$689,900

1052425 MLS ⋅ 78666 Zip Code

Cash Flow! 5,600 in gross rents. Three of the four tenants have renewed for another year! Two Duplexes! Each unit has 3 bedrooms and 3 bathrooms with detached washer and dryer areas. Downstairs has full size and up stairs has stackable. No carpet in any of the units. Tile and vinyl wood floors. Hardy plank siding. Newer appliances and water heaters. HVAC's in great shape. Plenty of parking. Water and electric are all separate. Three of the 4 tenants have renewed for another year. Three have been there 2 years+. Each duplex is on its own lot and must be sold together. Perfect for one investor or two that want to go in together. Must close both properties at the same time. Amazing location-walking distance to Walmart, Gas Station and Blanco River park. Close to major retail centers. Easy access to I-35. Best part of all...Seller financing is available! * lot next door also included R181561

1414-1420 River Rd, San Marcos

$1,800,000

4692656 MLS ⋅ 78666 Zip Code

A Rare, Scaled Portfolio in a High-Demand Texas Market. Acquiring 12 units in a single transaction is exceedingly rare in Central Texas, delivering immediate scale, operational efficiency, and a diversified income stream from Day 1. All units share the same 2BR/2BA configuration, simplifying management, unit turns, and capital planning. San Marcos sits at the nexus of the I-35 corridor between Austin and San Antonio, home to 4 million+ residents and growing. Hays County has ranked among the fastest-growing counties in the nation for over a decade. Texas State University (38,000+ enrollment) anchors consistent renter demand, while proximity to Austin's tech economy and San Antonio's healthcare and military sectors add further depth. Proven Income, Four Consecutive Years of Growth Gross rental income has grown every year since 2022, from $151,541 to a projected $161,511 in 2025 (2.1% CAGR). Current rents remain $187 to $287/unit below market comparables of $1,350 to $1,450, representing meaningful upside captured organically as leases renew. $150,000 Per Door, Below Replacement Cost New construction in San Marcos routinely exceeds $200,000 per door. The buyer acquires stabilized, income-producing assets with existing tenants and management infrastructure. No construction risk, no lease-up period, no development timeline. Built in 2012 with a strong remaining useful life on all major systems. Twelve contiguous units across three adjacent parcels create exceptional leverage: one property manager, consolidated vendors, portfolio insurance, and unified accounting, all improving net cash flow versus scattered single-family rentals.

540-566 Crest Circle Dr, San Marcos

$939,000

8914451 MLS ⋅ 78666 Zip Code

Fascinating and unique property in San Marcos could be all yours! 4 lots with 3 homes + efficiency apartment offers tons of potential and opportunity. Fourth lot has recently been cleared off further as well. Currently zoned SF6 (single family), but could request rezoning. In-ground pool needs some TLC and you'll have your own oasis. Main home offers a sprawling floor plan with 3 bedrooms, 2 full baths and multiple storage and flex areas. All three secondary units have had refreshed finishes. Front deck of the main home offers stellar views. Investor special with great rental and further development potential! Efficiency apartment leased month-to-month @ $895 - 1009 Hiilyer leased through 5/2027 @ $1,850 - 1001 Hillyer seeking tenants - 1000 Advance (main home) @ $1,900.

1000 Advance #1 St, San Marcos

$965,000

5682261 MLS ⋅ 78666 Zip Code

4 Single Family homes nestled in the coveted Westover neighborhood in San Marcos, TX. All properties are adjacent and occupy the corner of nearly an entire quarter "block" making this an exceptional investment opportunity with potential future infill development. Less than one mile to Prospect Park Trailhead for Purgatory Creek Nature Area, two blocks from Crockett Elementary and conveniently located near shopping/dining/entertainment making the homes very appealing to renters who want to easily enjoy everything the neighborhood and city has to offer. 1007 and 1011 Earle St have been updated with fresh paint and hardware in 2023. Total rents currently bring in $6100/mo with another $400 accessible with incremental improvements to 1015 Earle and 1107 Furman.

1007-1015 Earle St, San Marcos

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San Marcos Multi-Family Real Estate