Active
701 W 25th ST
Austin TX, 78705
$3,500,000
$796.18 per sqft
Active
4,396 sqft
Commercial
Built in 1979
Unbeatable cash flowing building with seller finance available at unbeatable interest rates******
Seller can offer owner finance at 4.25%, interest only payment with 25% down yielding a monthly payment of only $9296. Rate locked in for 3 years then increases 2% a year until it reaches 10 percent on the sixth year***
Current total gross rents is $17,600,,, property taxes $2488.... Monthly insurance $1069,net income monthly $4746, tenants pay utilities...
All tenants have a one year lease that end in July 2025 and are interested in renewing for 3 years which can be executed prior or after the completion of the sale -------------------------------------------------
Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically to potentially up to 24,000. Blue prints and additional info can be provided-----------------------------
The building is located in the University Neighborhood Outlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level.
3295243
MLSⓇ ID
January 3, 2024
Listed
August 26, 2024
Updated
Map
701 W 25th ST
Austin TX, 78705
Interior Features
Total Stories
2
Floor Description
Carpet, Tile, Vinyl
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.13 Acres
Sewer
Public Sewer
Other Property Details
Area Name
UT
Taxes
$32,991
Tax Frequency
Annually
Garage
No
Parking
Asphalt
View
No
View Description
None
County
Travis
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
5/13/2024 | Price change | $3,500,000 -8% |
Courtesy of eXp Realty, LLC
Listing Contact: (512) 789-6543
Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Hanan Lowell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.
Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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Database last updated 9:13 AM UTC, 8/26/2024