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 9, 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
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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 12:43 AM UTC, 5/9/2024