Active

1011 W 25th ST

Austin TX, 78705

$2,395,000


$554.65 per sqft

Active

4,318 sqft

Multi-family

Built in 1955

$13,100/mo income and $157,200/year projected income in 2024, expected to increase at renewals in 2025 to $166,300/year. 100% leased. Prime West Campus UT location. Pre-leases over a year in advance with a waitlist. Zoned for commercial and multi-family. This Investment offers a unique opportunity to enter the vibrant student housing market in one of the largest universities in the country - The University of Texas at Austin. Surrounded by a portfolio of properties consisting of single-family houses and duplexes, this property has great location, top-quality, and a unique product that cannot be easily duplicated. The Property consists of 3 Units, and 8 bedrooms including one unit converted for office use. This Investment gives steady cash flow in a market with historical occupancy of 100%. Residents at this Property are mainly made up of the student population, while one unit is dedicated to Office space / Commercial. Leases run for 12 months from August to August to correspond with the school year. Because of the age of the residents, all residents have a parental guarantor. Each Unit is jointly leased and all residents are placed on one lease contract. TAA (Texas Apartment Association) lease contracts are used as well as additional owner's rules addendums. Unique investor opportunity with consistent, high rental income.

7875495

MLS ID

March 14, 2024

Listed

May 10, 2024

Updated

Map

1011 W 25th ST
Austin TX, 78705

Interior Features

Total Stories

3


Interior Features

Ceiling Fan(s), Laminate Counters, Interior Steps


Appliances

Built-In Refrigerator, Dishwasher, Microwave, Oven, Refrigerator, Washer/Dryer


Floor Description

Carpet, Tile, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Radiant

Exterior/Building Features

Lot Size

0.11 Acres


Exterior Features

Balcony


Lot Features

Corner Lot, Front Yard


Roof

Composition, Shingle


Sewer

Public Sewer

School Information

School District

Austin ISD


High School

Austin


Elementary School

Bryker Woods

Other Property Details

Area Name

UT


Taxes

$23,040


Tax Frequency

Annually


Garage

Yes


Garage Spaces

2


Parking

Assigned, Attached


View

No


View Description

None


County

Travis


Water Source

Public


Pool

No


Buyer Agency Compensation

3%

Courtesy of Ready Real Estate LLC

Listing Contact: (817) 569-8200

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 7:58 PM UTC, 5/10/2024

 

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