2511 San Gabriel StAustin, TX 78705

For Sale
$2,195,000

Turnkey, high-cashflow student housing.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional, fully renovated single-family home (3,124 sq ft) in Austin's coveted West Campus neighborhood presents a rare investment opportunity. Located just blocks from the University of Texas campus and less than a mile from downtown, this property boasts a prime location with exceptionally high demand. Completely remodeled in 2023, the property features updated HVAC, plumbing, electrical systems, and appliances. The 9-bedroom, 1-story home is currently 100% occupied, with pre-leased agreements in place through July 31st, 2026, generating a substantial monthly income of $13,800 (increasing to $15,000 in August 2025 and projected to reach $16,000 in August 2026). The property sits on a 6,912 sq ft lot and includes 4 parking spaces. With a current NOI of $136,500 and a pro-forma NOI of $154,000, this investment offers a compelling 6.22% cap rate (7.02% pro-forma). The property is zoned MF-4-NP, presenting significant redevelopment potential within the UNO overlay district. This turnkey investment offers strong cash flow, low expenses (approximately 20% expense ratio), and significant potential for both rental income growth and future appreciation. The long-term leases minimize management needs and commissions, further enhancing the property's profitability. This is a truly exceptional opportunity to acquire a high-performing asset in a rapidly appreciating market. Asking price: $2,195,000.

Highlights

  • $200,000 price reduction; 6.22% cap rate (7.02% pro-forma).
  • Exceptional, fully renovated 3,124 sq ft single-family home in Austin's West Campus, blocks from UT and under a mile from downtown.
  • 2023 remodel includes updated HVAC, plumbing, electrical, and appliances.
  • Nine-bedroom, one-story home, 100% occupied with pre-leases through July 31, 2026; $13,800/month rent (increasing to $15,000 in August 2025, and $16,000 in August 2026).
  • 6,912 sq ft lot with four parking spaces; $136,500 current NOI, $154,000 pro-forma NOI.
  • MF-4-NP zoning in the UNO overlay district offers redevelopment potential.

Property Details for 2511 San Gabriel St

Property type
Multifamily properties, Residential income homes
Square Feet
3,124 SF
Class
A
Year Built/Renovated
1937/2023
Buildings
1
Stories
1
Units
1

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.290456066492
Longitude
-97.747606065912
2511 San Gabriel St, Austin, Texas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
2511 San Gabriel St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message