Active

2511 San Gabriel ST

Austin TX, 78705

$2,295,000


$730.43 per sqft

Active

9 Beds

4 Baths

3,142 sqft

Residential

Built in 1937

$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.

3669358

MLS ID

January 18, 2024

Listed

April 5, 2024

Updated

Map

2511 San Gabriel ST
Austin TX, 78705

Interior Features

Total Stories

1


Bedrooms

9 Beds


Bathrooms

4 Baths


Interior Features

Breakfast Bar, Ceiling Fan(s), Quartz Counters, Electric Dryer Hookup, Gas Dryer Hookup, No Interior Steps, Open Floorplan, Primary Bedroom on Main, Walk-In Closet(s)


Appliances

Dishwasher, Disposal, Dryer, Oven, Range, Washer/Dryer


Floor Description

Laminate


Fireplace

Yes


Fireplace Description

Living Room


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.16 Acres


Exterior Features

None


Lot Features

Alley Access, Back Yard, Trees-Large (Over 40 Ft)


Roof

Composition


Sewer

Public Sewer

School Information

School District

Austin ISD


High School

Austin


Elementary School

Bryker Woods

Other Property Details

Area Name

UT


Garage

No


Parking

Off Street


View

No


View Description

None


County

Travis


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

4/5/2024

Price Change

$2,295,000

4%

3/22/2024

Price Change

$2,195,000

-9%

Courtesy of Resavvy LLC

Listing Contact: (512) 762-8669

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

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 7:10 PM UTC, 4/5/2024

 

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