2411 S 5th ST, Austin TX, 78704
(Active)
$1,750,000
|
4,760 sqft
|
MLS# 9030055
Last Updated: 4/27/2024 3:04 PM
Description for
2411 S 5th ST
Austin, TX 78704
Value Added Opportunity on a six unit apartment complex in the heart of Bouldin Creek. This six unit complex sits on a .349 acre tract with the engineering reports showing how an additional six units can be added to the tract to maximize the return for an investor. A full copy of the Architectural Feasibility Report can be requested under separate cover. Complex is currently leased with under market rental rates, so there is an upside for immediate increase in cash flow with the potential for value added increases in the future. With this outstanding location just blocks from the SoCo District and in the Bouldin Creek District, the opportunity to convert this complex to Short Term Corporate Rental for maximization of rental exists or to convert to Condominiums for sale of individual units. All facts to be confirmed by the buyer prior to closing.
Price
$1,750,000
Southwood Annex
Travis
4,760 (approx)
9030055
Active
Description
Value Added Opportunity on a six unit apartment complex in the heart of Bouldin Creek. This six unit complex sits on a .349 acre tract with the engineering reports showing how an additional six units can be added to the tract to maximize the return for an investor. A full copy of the Architectural Feasibility Report can be requested under separate cover. Complex is currently leased with under market rental rates, so there is an upside for immediate increase in cash flow with the potential for value added increases in the future. With this outstanding location just blocks from the SoCo District and in the Bouldin Creek District, the opportunity to convert this complex to Short Term Corporate Rental for maximization of rental exists or to convert to Condominiums for sale of individual units. All facts to be confirmed by the buyer prior to closing.
Listing Information
| Property Type: Apartment, Business Opportunities, 2 Story | ||
| 0.35 Acres | 4,760 (approx) | 1960 |
| 2 | Fiber cement,Frame | |
Southwood Annex
Slab
Public
Public Sewer
Electricity Available, Natural Gas Available, Sewer Connected
Investment, Multi-Family, Residential
Neighborhood
Room Information
Interior Features
Laminate, Carpet
Central Air
Gas Heat
Exterior / Lot Features
10 Parking Spaces,
Gravel, Off Street, On Site, Parking Lot, Unassigned
Frame, Fiber Cement
City, Trees/Woods
MF-4
Level
Driving Directions
From E Oltorf / IH 35, go west 1.6 miles then turn left at S 5th St. Drive 325 feet, building will be on your left.
Financial Considerations
| 04020404120000 |
| $17,224 |
Cash, Conventional
Listing Price History
Austin Real Estate
Austin is located in Texas. Austin, Texas 78704 has a population of 986,248.
The median household income in Austin, Texas 78704 is $87,074. 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 78704 is 36 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/10/2024 | Active | $1,750,000 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2022 | $17,391 USD | -2.10% | $952,000 USD | 8.11% |
| 2021 | $17,764 USD | -0.28% | $880,600 USD | 7.90% |
| 2020 | $17,813 USD | 12.38% | $816,096 USD | 2.01% |
| 2019 | $15,850 USD | 14.00% | $800,000 USD | 8.25% |
| 2018 | $13,903 USD | 1.08% | $739,000 USD | 16.75% |