Active
2511 San Gabriel ST
Austin TX, 78705
$1,945,000
$619.03 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
July 13, 2024
Updated
Map
2511 San Gabriel ST
Austin TX, 78705
Interior Features
Total Stories
1
Bedrooms
9
Total Bathrooms
4
Full Bathrooms
4
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
Listing History
Date | Event | Price |
---|---|---|
6/28/2024 | Price Change | $1,945,000 -3% |
6/11/2024 | Price Change | $1,995,000 -10% |
Courtesy of Resavvy LLC
Listing Contact: (512) 762-8669
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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 12:32 PM UTC, 7/13/2024