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2511 San Gabriel St

Austin, TX 78705
  • $2,195,000
  • STATUS: Active
  • ID#: 3669358
UPDATED: 110 min ago
$2,195,000
  • 9
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 3,142
    SQFT
  • $699
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1937
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:
Property listed by Tony Lazarov of Resavvy LLC: (512) 762-8669.

Description

$200K Price reduction! 6.3% to 7% cap rate with already executed leases. An opportunity to own a Trophy cashflow property in the best possible location in Austin, TX. The property is a few short blocks from the UT campus and less than a mile from DT. This amazing 2023 remodeled house features, new or updated HVAC, plumbing, electrical, appliances, etc. It's a rare, 1 story house in such high demand, that the property has been pre-leased until July 31st, 2025 for $13,800 per mo. and from Aug 2025 until July 31st, 2026 for $15,000 per mo. That is about a 7% cap rate based on the asking price. This is a Core investment opportunity, rarely ever to come up for sale. Selling at a very high cap rate, and low expenses. This opportunity is turn-key with strong rental and price appreciation potential. It is located in the coveted UNO overlay so it also offers an amazing redevelopment future potential. Investment highlights: Core Investment * Strong cap rate and cash flow - ALready rented at $13,800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15,000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16,000/month Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is only one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20% Amazing location in the UNO overlay in West Campus walking distance to UT. Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are very rare and demand for them is oversized. Safe investment as the area is protected from economic fluctuations due to the UT and DT effects. Rent and price appreciation potential. Future re-development potential due to the UNO overlay.

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© 2024 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-05-22T00:01:19.35.

MLS Grid  logoBased on information submitted to the MLS GRID as of 2024-05-22T00:01:19.35 (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. Click here for MLS GRID DMCA Notice
www.buyandsellaustintx.com/homes/146733495
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2511 San Gabriel St Austin, TX 78705

  • Price: $2,195,000
  • Status: Active
  • On Site: Days
  • Updated: 110 min ago
  • ID#: 3669358
9
Beds
4
Baths
0
½ Baths
0.16
Acres
3,142
SQFT
$699
$/SQFT
1937
Built
Neighborhood:
Wooten Goodall
County:
Travis
Area:
Austin
Elementary School:
Bryker Woods
Middle School:
O Henry
High School:
Austin
School District:
Austin ISD
Property Description
$200K Price reduction! 6.3% to 7% cap rate with already executed leases. An opportunity to own a Trophy cashflow property in the best possible location in Austin, TX. The property is a few short blocks from the UT campus and less than a mile from DT. This amazing 2023 remodeled house features, new or updated HVAC, plumbing, electrical, appliances, etc. It's a rare, 1 story house in such high demand, that the property has been pre-leased until July 31st, 2025 for $13,800 per mo. and from Aug 2025 until July 31st, 2026 for $15,000 per mo. That is about a 7% cap rate based on the asking price. This is a Core investment opportunity, rarely ever to come up for sale. Selling at a very high cap rate, and low expenses. This opportunity is turn-key with strong rental and price appreciation potential. It is located in the coveted UNO overlay so it also offers an amazing redevelopment future potential. Investment highlights: Core Investment * Strong cap rate and cash flow - ALready rented at $13,800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15,000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16,000/month Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is only one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20% Amazing location in the UNO overlay in West Campus walking distance to UT. Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are very rare and demand for them is oversized. Safe investment as the area is protected from economic fluctuations due to the UT and DT effects. Rent and price appreciation potential. Future re-development potential due to the UNO overlay.
Exterior Features

Attached Garage YN No Covered Spaces 0 Direction Faces NE Exterior Features None Fencing Front YardPrivacy Foundation Details Pillar/Post/Pier Garage YN No Levels One Lot Features Alley AccessBack YardTrees-Large (Over 40 Ft) Lot Size Dimensions 128x54 Other Structures None Parking Features Off Street Patio And Porch Features Covered Roof Composition View None Waterfront Features None Waterfront YN No

Interior Features

Appliances DishwasherDisposalDryerOvenRangeWasher/Dryer Cooling Central Air Fireplace Features Living Room Fireplaces Total 1 Flooring Laminate Heating Central Interior Features Breakfast BarCeiling Fan(s)Quartz CountersElectric Dryer HookupGas Dryer HookupNo Interior StepsOpen FloorplanPrimary Bedroom on MainWalk-In Closet(s) Laundry Location Laundry RoomMain Level Main Level Bedrooms 9 Num Dining 1 Num Living 1 Num Other Level Beds 0 Rooms Primary Bedroom (Main Level Ceiling Fan(s)Full Bath) Kitchen (Main Level Ceiling Fan(s)Quartz Counters) Primary Bathroom (Main Level Ceiling Fan(s)) Window Features Wood Frames

Property Features

Accessibility Features None Additional Parcels YN No Association YN No Community Features None Estimated Taxes 19206.38 Fema Flood Plain No Horse YN No Listing Terms CashConventional1031 Exchange New Construction YN No Pool Features None Pool Private YN No Property Condition Updated/Remodeled Property Sub Type Single Family Residence Sewer Public Sewer Spa Features None Special Listing Conditions Standard Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Source Public



© 2024 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-05-22T00:01:19.35.

MLS Grid  logoBased on information submitted to the MLS GRID as of 2024-05-22T00:01:19.35 (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. Click here for MLS GRID DMCA Notice
 
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Lauren McCoy | David Brodsky Properties
2312 Western Trails Blvd. D-404
Austin TX, 78745
Property listed by Tony Lazarov of Resavvy LLC: (512) 762-8669.