Details
- Units: 54
- Year built: 1968
- Area: East Central Austin
- Status: Available
Description
-
Description:
Investment Highlights
- Exceptional Location – Less than 5 minutes to Downtown, South Congress, Travis Heights, East Austin, Rainey Street, ACC, and St. Edward’s University.
- Average Home Price within 1 mile radius = $1,129,810 – Gentrifying area providing a more affordable option than home ownership and the surrounding areas.
- Attractive Basis – Value-Add Opportunity priced accordingly. Competitive rents, well below the surrounding newer Class A Properties.
- Desirable Unit Mix – Comprised of 24 Studios, 20 One-Bedroom and 10 Two-Bedroom Units catering to Austin’s younger and independent demographic.
- Longterm Owner – Property has not changed hands in over 5 years creating possible creative tax structures.
- Future Optionality – Two adjacent parcels offering flexibility to sell separately, redevelop or potential candidate for condo conversion.
Location
- Neighborhoods: East Central Austin
Powered by Estatik
-
- Price: $6,250,000
- Total Units: 54
- Area: East Central
- Status: Available
Conveniently located 1.5 miles from Downtown, about 10 minutes to Austin-Bergstrom International Airport, and 15 minutes to the University of Texas.
Parker Heights
*Click property name for directions