2802 Whitis Avenue
Austin, TX 78705
0.12 acres | #5251498
Description
Welcome to The Esquire, a rare opportunity to own a small apartment complex in the North Campus area near the University of Texas! The property consists of 10, efficiency units that are 100% occupied at $800/month each. The units are neat and clean and they all feature vinyl floors, a well-appointed kitchen with a range & refrigerator plus a full bathroom with a tub/shower combo. Superb location that is within walking distance to the University of Texas which is one of the largest public universities in the nation, restaurants & coffee shops, music venues, vintage stores and more. The Hemphill park is around the corner offering a nice, quiet place to walk and relax. Due to the location, there is built-in demand so the units rent quickly at the current price and stay rented year-over year. The current Owners chose to keep rents steady but rents in the area are typically higher so there is a potential to increase rates immediately or you could do some modest improvements and increase your income. The North Campus, central area is witnessing an amazing amount of development and growth so future development options are possible which helps add to the value of the land. There are 10 electrical meters and 6 parking spots (this has not impacted rentability given the walkability, available rideshare options and scooters). Per the Owner, the structure was originally designed and framed for a second story so that is something that could be looked into if someone is interested in adding more rentable units. No matter what your investment goals are, this property offers the possibility to meet them! Whether you're looking for a passive income stream, the possibility of a "value add" rental property or a "buy and hold" strategy focusing on longer term appreciation, this flexible property has the potential to meet all 3.
Property Details
- ViewNeighborhood, Trees Woods
- Stories1
Measurements
- Acres0.1188
Construction Details
- Property TypePurchase
Condition
- Year Built1956
Material information
- FoundationSlab
Utilities / Energy Details
- Utility FeaturesElectricity Connected, Sewer Connected, Water Connected
- Sewer InformationPublic Sewer
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionWhitis
Location
- CountyTravis
Financial Details
- Original List Price$1,600,000
- Taxes Annual$14,057
- Days on Market (Cumulative)72
Other
- MLS #5251498
Location
Legal
Based on information submitted to the MLS GRID as of 2024-10-05 19:24:26 UTC. 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.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
Last Updated: . Source: ACTRIS
Listing Courtesy
Listing Agent: Sonya Cunningham (#509384), Phone: (512) 633-4619
Listing Office: Kuper Sotheby's Int'l Realty (#001203)
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