1 / 30High yieldValue-add
$1,100,000
21-Unit Multifamily in Kerrville, TX
Kerr County, TX · listed Mar 23, 2026 (219 days)
Price per unit compared
This property$52K
Within ~40 mi (45)$109K
Texas median (1,029)$100K
- $/unit
- $52,381
- ▼ 48% vs TX · 6th pct
- Cap rate
- 9%
- ▲ 1.7 pts vs TX median
- NOI
- $99K
- $4,705/unit/yr
- Units
- 21
- 4 bldg · 1950
Financials
- Asking price
- $1,100,000
- Price per unit
- $52,381
- Price per sq ft
- $118
- Gross rent / year
- Not stated
- Net operating income
- $98,800
- NOI per unit
- $4,705
- Cap rate
- 9%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 21
- Unit mix
- Not stated
- Buildings
- 4
- Year built
- 1950
- Building size
- 9,300 sq ft
- Avg unit size
- 443 sq ft
- Lot size
- 0.96 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Mar 23, 2026
- Days on market
- 219 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1024
About this property
21-unit multifamily investment opportunity
Highlights
- 21-unit multifamily investment opportunity
- NOI: $98,800 (2025)
- Historically 90%+ occupancy
- Stable in-place income with upside potential
- 9,300± rentable square feet
- 0.96± acres across four buildings
- Zoned R-3 (multifamily)
- Built in 1950
- 6 studio units (300 SF each)
- 15 one-bedroom / one-bath units (500 SF each)
- Over 60% of units renovated
- Opportunity to increase rents through upgrades
- Continued operational improvements available
- 3 miles to Schreiner University
- 9 minutes to Interstate 10
- Strong local rental demand drivers
- Convenient access to Kerrville amenities
- On-site laundry facility
- City water and sewer
- Proven long-term occupancy performance
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Kerrville, TXNewHigh yield | $1.1M | $52K$52K | 9% |
 Kerrville, TXOwner financingStabilized | $959K | $160K$160K | 5% |
 Kerrville, TXHigh yieldStabilized | $865K | $173K$173K | 9% |
 Fredericksburg, TXStabilized | $1.85M | $154K$154K | — |
 Bandera, TXHigh yield | $450K | $75K$75K | 24.4%gy |
 Fredericksburg, TXStabilized | $990K | $165K$165K | — |