Introducing an exciting investment opportunity in the up-and-coming East Austin area!Springdale Commons is the latest development from Austin's premier green builder, Fortunate Foundations. Consisting of eightunits, this unique complex is perfectly positioned to capitalize on the area's growth and potential. Expected completion date August2023.Located in the heart of East Austin, this development offers a prime location that is attracting attention from investors and residentsalike. With its vibrant arts scene, trendy restaurants, and proximity to downtown, East Austin is quickly becoming one of the mostsought-after neighborhoods in the city.The complex itself boasts 8 energy-efficient units across 3 buildings enveloped in continuous thermal and noise-insulating foam.These modern, eco-friendly features not only provide residents with a comfortable and tranquil living experience but also contributeto reduced energy costs and a smaller carbon footprint.One of the unique advantages of this property is its commercial zoning, allowing for the allocation of two units specificallydesignated for short-term rentals (STRs). With the increasing popularity of Austin as a tourist destination, STRs present an excellentopportunity to maximize your investment returns. Buyer to verify.As you evaluate the financials, rest assured that this property offers a competitive Cap Rate of 4.6% and an impressive ProForma CapRate of 5.8%. Perform a thorough analysis of the projected rental income from long-term leases, as well as the potential incomefrom the designated STR units.Don't miss your chance to be part of the East Austin growth story. This multi-family complex presents an ideal blend of location,energy efficiency, and investment potential. Contact us today to secure your place in this thriving community and start reaping thebenefits of this exceptional opportunity.
Price
$5,400,000
Springdale Commons
Travis
1,444 (approx)
9392592
Active
Description
Introducing an exciting investment opportunity in the up-and-coming East Austin area!Springdale Commons is the latest development from Austin's premier green builder, Fortunate Foundations. Consisting of eightunits, this unique complex is perfectly positioned to capitalize on the area's growth and potential. Expected completion date August2023.Located in the heart of East Austin, this development offers a prime location that is attracting attention from investors and residentsalike. With its vibrant arts scene, trendy restaurants, and proximity to downtown, East Austin is quickly becoming one of the mostsought-after neighborhoods in the city.The complex itself boasts 8 energy-efficient units across 3 buildings enveloped in continuous thermal and noise-insulating foam.These modern, eco-friendly features not only provide residents with a comfortable and tranquil living experience but also contributeto reduced energy costs and a smaller carbon footprint.One of the unique advantages of this property is its commercial zoning, allowing for the allocation of two units specificallydesignated for short-term rentals (STRs). With the increasing popularity of Austin as a tourist destination, STRs present an excellentopportunity to maximize your investment returns. Buyer to verify.As you evaluate the financials, rest assured that this property offers a competitive Cap Rate of 4.6% and an impressive ProForma CapRate of 5.8%. Perform a thorough analysis of the projected rental income from long-term leases, as well as the potential incomefrom the designated STR units.Don't miss your chance to be part of the East Austin growth story. This multi-family complex presents an ideal blend of location,energy efficiency, and investment potential. Contact us today to secure your place in this thriving community and start reaping thebenefits of this exceptional opportunity.
Listing Information
Property Type: Multi-Family, Business Opportunities, Other
0.57 Acres
1,444 (approx)
2023
Fiber cement,Frame
Springdale Commons
Fortunate Foundations
Slab
Public
Public Sewer
Electricity Connected, Sewer Connected, Water Connected
Multi-Family
Neighborhood
Room Information
Interior Features
Tile, Carpet, Wood
Central Air
Other,Central
Smoke Detector(s), Fire Alarm, Fire Sprinkler System
Exterior / Lot Features
13 Parking Spaces,Covered, Open
Frame, Fiber Cement
New Construction
Community Features
Smoke Detector(s), Fire Alarm, Fire Sprinkler System
Driving Directions
From I-35, go west take E Martin Luther King Jr Blvd, then go South on Springdale Rd
Financial Considerations
02101804140000
$56,029
Cash, Conventional
Listing Price History
Austin Real Estate
Austin is located in Texas.
Austin, Texas 78721 has a population of 986,248.
The median household income in Austin, Texas 78721 is
$57,880.
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 78721 is 36 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
Street Address
City
Beds
Baths
Sold Price
Sold Date
No information is available for recently sold properties within this search.