Cash Flow Property on the TX Coast
Investment or Vacation Property
I have a new development property I am working with in Port Aransas, TX two blocks from the beach that is projected to cash flow. I have purchased one of the units (as has my sister and a couple of friends) and personally know the builder and developer (all out of or originally out of Austin). I do not represent the seller but serve only as a buyer rep for this project.
Port Aransas, TX
Call it the 3rd coast or call it the other coast but it’s the TX coast which represents some of the only remaining underdeveloped coastal property in the continental United States. A fishing and vacation destination for Texans and snowbirds, 2 hours from San Antonio, 2 hours from Houston and 3 ½ hours from Austin, Port A is a sport fish and family beach vacation destination. It used to be a sleepy fishing village but is now home to a new Arnold Palmer golf course set to open this fall. Good restaurants (flip flops optional) but you’ll have to go to Corpus for a Starbucks.
Port A had its first million $ property close a few years back and now it is a common occurrence. You can purchase a new construction home with a water view for $500k – $600k and plenty of condos with views for $250k – $350k. Not a high-rise type of coast, Port A is laid back and still evolving with a bit of an artist’s edge.
The Project: The Commons
2 blocks from the beach
30 townhomes / 8 buildings
3 bed / 2 ½ bath
$219k – $225k
If you choose to use as a vacation rental, these units are projected to cash flow. The developer will consider price breaks for purchase of more than one unit.
See the following for marketing and pro-forma:
Interested? Contact TheNelsonProject@austin.rr.com or 512-794-6608.
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