516 40Th StAustin, TX 78751

Exceptional investment opportunity in Austin, Texas, presents a 10-unit apartment building ideally situated at 516 E 40th St, 78751, within Travis County. This Class B, two-story building, constructed in 1972, boasts a total of 3,960 square feet. The property is currently configured with a mix of long-term and short-term rentals, offering diverse income streams. Six units operate as long-term rentals, while four units are licensed as short-term rentals (STRs) through the City of Austin, generating substantial revenue via platforms like Airbnb and boasting excellent guest reviews. Financial documentation, including a 2023 income statement for both the STR and long-term rental units, and a comprehensive rent roll, are available upon request. The asking price is $1,960,000, translating to $196,000 per unit. This presents a compelling opportunity for 1031 exchange investors. The property's proximity to the Hancock Golf Course adds to its desirability. Note that recent leasing activity includes two units transitioning to year-long leases, with two additional units available for year-long leases starting January 1st. This property offers a blend of stable long-term income and the potential for high returns from short-term rentals.