Austin TX Multi Family for Sale
$1,750,000
609 Texas Austin, TX 78705
- Type:
- Duplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1932
- Baths:
- MLS#:
- 5802075
- Subdivision:
- Harpers
View additional info
Courtesy: Agency Dallas Park Cities, LLC
336-743-0336
ADDITIONAL INFORMATION
Nestled on one of the most beautiful, tree lined streets in the coveted Hancock Park neighborhood of Central Austin, lies 609 Texas Avenue, a 1932 built classic Chicago brick duplex, with gorgeous, period millwork and architectural features throughout. Each floor of the 2 story duplex offers a 2 bed/1 bath unit, with warm hardwood flooring, beautiful porches, patios, modern kitchens and plenty of storage. Units are separately metered. Located a mere 1.2 miles from the University of Texas and 2.2 miles from Downtown Austin, the prime location offers convenience and accessibility to Austin’s renowned dining, shopping and cultural attractions, as well as top rated schools and recreation. Tenants on a rolling 3 month Lease, please inquire for details. Buyer to verify all information. PID 02170615050000
$2,995,000
609 Elmwood Pl Austin, TX 78705
- Type:
- Triplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 2017
- Baths:
- MLS#:
- 3675218
- Subdivision:
- College Court
View additional info
Courtesy: Resavvy LLC
512-762-8669
ADDITIONAL INFORMATION
Cashflow, turnkey property located within 5-minute walk from the UT Campus. 609 Elmwood next door is exactly the same selling at the same price and a buyer can ONLY purchase both 3-plexes. Demand for 4 to 7 Bed. Hoses and Units within walking distance to UT are extremely high as available 4 to 7-bed rental units are extremely limited. Students pre-lease those units years in advance to have a chance to live in one of them. All units in both 3-plexes are not only 100% occupied with leases that ends July 31st, 2024 at $1,250/bedroom rent which is $35K/mo. or $420K/yr. but it is also pre-leased with fully executed leases for the Aug 1st, 2024 – July 31st, 2025 period at $1,350/mo. or $37,800/mo between the two 3-plexes which is $453,600/yr. The projected rent for the Aug 1st, 2025 – July 31st, 2026 period is $1,500/bd or $504,000/yr. The carrying costs for this asset are quite low as property tax relief just passed in Austin has lowered tax rates and property valuations, there are no common elements to maintain, all units have separately metered utilities and tenants pay for all the utilities. All that makes the expense ratio for those units be at about 30% of gross income. That is a 4.8% Cap rate based on Aug 2024 rents and close to a 5.5% Cap rate based on the Aug 2025 pro forma. This Trophy property is in huge rental demand due to its unbeatable location, quality, and rental demand.
$2,995,000
607 Elmwood Pl Austin, TX 78705
- Type:
- Triplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 2017
- Baths:
- MLS#:
- 1745040
- Subdivision:
- College Court
View additional info
Courtesy: Resavvy LLC
512-762-8669
ADDITIONAL INFORMATION
Cashflow, turnkey property located within 5-minute walk from the UT Campus. 609 Elmwood next door is exactly the same selling at the same price and a buyer can ONLY purchase both 3-plexes. Demand for 4 to 7 Bed. Hoses and Units within walking distance to UT are extremely high as available 4 to 7-bed rental units are extremely limited. Students pre-lease those units years in advance to have a chance to live in one of them. All units in both 3-plexes are not only 100% occupied with leases that ends July 31st, 2024 at $1,250/bedroom rent which is $35K/mo. or $420K/yr. but it is also pre-leased with fully executed leases for the Aug 1st, 2024 – July 31st, 2025 period at $1,350/mo. or $37,800/mo between the two 3-plexes which is $453,600/yr. The projected rent for the Aug 1st, 2025 – July 31st, 2026 period is $1,500/bd or $504,000/yr. The carrying costs for this asset are quite low as property tax relief just passed in Austin has lowered tax rates and property valuations, there are no common elements to maintain, all units have separately metered utilities and tenants pay for all the utilities. All that makes the expense ratio for those units be at about 30% of gross income. That is a 4.8% Cap rate based on Aug 2024 rents and close to a 5.5% Cap rate based on the Aug 2025 pro forma. This Trophy property is in huge rental demand due to its unbeatable location, quality, and rental demand.
$1,499,000
3104 Cedar St Austin, TX 78705
- Type:
- Duplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1977
- Baths:
- MLS#:
- 1671663
- Subdivision:
- Fruth Add
View additional info
Courtesy: Myte Realty
214-334-3779
ADDITIONAL INFORMATION
THere are two units Unit A and Unit B both units are mirrors of each other, One bedroom is a master with a private bathroom on the third floor with an additional bedroom on the third floor. The other two bedrooms have a shared bathroom on the second floor. This is a Four bedroom and two and a 1/2 bath house. On the first floor is a living area with a cozy fireplace, a dining area,and a spacious kitchen that can accommodate a dining table. The backyard has a patio and and garden area that can be used for barbecues, and outside parties.
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Austin Real Estate
The median home value in Austin, TX is $361,900. This is higher than the county median home value of $353,300. The national median home value is $219,700. The average price of homes sold in Austin, TX is $361,900. Approximately 41.53% of Austin homes are owned, compared to 50.25% rented, while 8.22% are vacant. Austin real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Austin real estate agent to arrange a tour today!
Austin, Texas 78705 has a population of 916,906. Austin 78705 is less family-centric than the surrounding county with 35.47% of the households containing married families with children. The county average for households married with children is 36.46%.
The median household income in Austin, Texas 78705 is $63,717. The median household income for the surrounding county is $68,350 compared to the national median of $57,652. The median age of people living in Austin 78705 is 32.7 years.
Austin Weather
The average high temperature in July is 95.1 degrees, with an average low temperature in January of 38.9 degrees. The average rainfall is approximately 35.2 inches per year, with 0.6 inches of snow per year.