$796.18 Per Sq Foot $18,789 est/mo Sourced by Back At You

701 W 25th St,Austin, TX 78705

Austin TX, 78705

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Description

Unbeatable cash flowing building with seller finance available at unbeatable interest rates****** Seller can offer owner finance at 4.25%, interest only payment with 25% down yielding a monthly payment of only $9296. Rate locked in for 3 years then increases 2% a year until it reaches 10 percent on the sixth year*** Current total gross rents is $17,600,,, property taxes $2488.... Monthly insurance $1069,net income monthly $4746, tenants pay utilities... All tenants have a one year lease that end in July 2025 and are interested in renewing for 3 years which can be executed prior or after the completion of the sale ------------------------------------------------- Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically to potentially up to 24,000. Blue prints and additional info can be provided----------------------------- The building is located in the University Neighborhood Outlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level.

Details

MLS#3295243
Listing TypeFor Sale
StyleTown House
Building NameThe Chimneys
Sub-TypeResale
StatusActive
Year1979
Days On Site192
Listing Provided ByeXp Realty, LLC | Michael Said
Buying Commision2.500%

Features

SQ Feet4,396
Story(s)2
Building(s)1
ZoningGO-NP University Neighborhood Ov
Acreage0.13
Water FrontYes
Property ViewNone

 Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of July 13, 2024 at 10:44:14 AM PDT 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.

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Learn More About This Property

StateTX
CountyTravis
CityAustin
Zip Code78705
AreaUT
Community NameWatson
Listing VS Median (in Watson)
Price:
$3,500,000
low | high
Med:
$3,500,000
50% of Average
SqFt:
4,396
low | high
Med:
4,396
50% of Average
$ / SqFt:
$796
low | high
Med:
$796
50% of Average
On Site:
192
low | high
Med:
192.000000
100% of Average
Sourced by Back At You
Listing Updated: July 11, 2024 at 7:41:25 PM PDT