$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.
Price
$2,395,000
Division D
Travis
4,318 (approx)
2300347
Active
Description
$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.
Listing Information
Property Type: Mixed Use, Business Opportunities, Other
0.11 Acres
4,318 (approx)
1955
Brick,Frame
Division D
Slab
Public
Public Sewer
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Commercial, Mixed Use, Multi-Family, Residential
Neighborhood
Room Information
Interior Features
Tile, Vinyl, Carpet
Central Air
Other,Radiant
Exterior / Lot Features
10 Parking Spaces,Additional Parking, Assigned, Attached, Varies by Unit
Brick, Frame
CS-MU-V-CO-NP
Zoned as CS (Commercial Services) c
Driving Directions
North on N Mopac Expy, turn right onto W 24th St, turn left onto Leon St, property is on your right.
Financial Considerations
1011 W 25th St
$23,040
Cash, Conventional
Listing Price History
Austin Real Estate
Austin is located in Texas.
Austin, Texas 78705 has a population of 986,248.
The median household income in Austin, Texas 78705 is
$50,776.
The median household income for the surrounding county is $83,177
compared to the national median of $66,222.
The median age of people living in Austin 78705 is 36 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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City
Beds
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Sold Price
Sold Date
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