The Lux Riverside

Market Price

1605 Water St, Kerrville, TX 78028

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 02/04/2025

Details:

Building Size: 27,470 sqft

Lot Area: 2.0378 acres

Units: 47

Year Built: 1965

Offered by

Greg Brownd

KW Commercial

#494693

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Highlights:

Average Cash on Cash Return of 8.6% - Year 1.
Less than 2 miles from top employers in Kerrville.
Strong Additional Revenue Streams.

Description:

The Go-Getters Multifamily team is thrilled to present the Lux Riverside Apartments, an exceptional 47-unit complex offering a prime value-add investment opportunity in the heart of Kerrville. Built in 1965, this property features waterfront views and a tranquil atmosphere. The Lux Riverside Apartments include a mix of 1-bedroom/1-bathroom units and studios, averaging 584 square feet. This property also features access to well-appointed amenities, including a landscaped courtyard, convenient laundry facilities, and a designated picnic area.

1605 Water Street in Kerrville, TX, is ideally situated in a central location, providing easy access to a variety of nearby employers and amenities. Within a 3-mile radius, notable establishments include Kerrville State Hospital, Schreiner University, and H-E-B. Additionally, the area offers residents convenient access to parks, dining options, and community services, making it an attractive destination for both living and working.