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This exceptional investment opportunity presents two 2-story, 4-unit apartment buildings totaling eight units, situated on approximately 1-1.5 acres in Austin, Texas. The property, built in 1981 and renovated six years ago, boasts 8,000-9,000 square feet of space, with each unit offering approximately 1,000 square feet of living area. Features include stainless steel appliances, Romeo and Juliet balconies, and private backyards. Currently operating as a successful vacation rental business with all necessary city licenses and permits, the property offers a strong net operating income (NOI) of $350,000, resulting in a 7% cap rate. The asking price is $5,000,000, or $625,000 per unit. Located at 708 & 800 S. 1st Street, this prime location is just a two-minute walk from the vibrant heart of South Austin, yet maintains a private and serene atmosphere. Within a five-minute walk, you'll find South Congress Avenue, Lady Bird Lake hike and bike trails, and an array of shops, boutiques, and restaurants. This property offers unique investment and usage possibilities, making it an ideal addition to any portfolio. The current 80% occupancy rate presents further upside potential. The property's zip code is 78704, and it is located in Travis County.
Property Details
for 800 1St St
Property type
Multifamily properties, Apartment buildings
Square Feet
8,000 SF
Year Built/Renovated
1981/6
Buildings
2
Stories
2
Lot Size (sq. ft)
43,560 SF
Units
8
Location Insight
City
Austin
County
Travis
State
Texas
Latitude
30.2554525
Longitude
-97.7523442
800 1St St, Austin, Texas
Nearby Similar for Sale
For Sale
$7,000,000
West Campus High-Rise Opportunity
Prime Austin location, 5-plex, high-rise potential.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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