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1011 W 25th St, Austin, TX 78705
$2,395,000
1011 W 25th St, Austin, TX 78705View this property at 1011 W 25th St, Austin, TX 78705
1011 W 25th StAustinTX78705
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Property Description
$13,100/mo income and $157,200/year projected income in 2024, expected to increase at renewals in 2025 to $166,300/year. 100% leased. Prime West Campus UT location. Pre-leases over a year in advance with a waitlist. Zoned for commercial and multi-family. This Investment offers a unique opportunity to enter the vibrant student housing market in one of the largest universities in the country - The University of Texas at Austin. Surrounded by a portfolio of properties consisting of single-family houses and duplexes, this property has great location, top-quality, and a unique product that cannot be easily duplicated. The Property consists of 3 Units, and 8 bedrooms including one unit converted for office use. This Investment gives steady cash flow in a market with historical occupancy of 100%. Residents at this Property are mainly made up of the student population, while one unit is dedicated to Office space / Commercial. Leases run for 12 months from August to August to correspond with the school year. Because of the age of the residents, all residents have a parental guarantor. Each Unit is jointly leased and all residents are placed on one lease contract. TAA (Texas Apartment Association) lease contracts are used as well as additional owner's rules addendums. Unique investor opportunity with consistent, high rental income.
Full Property Details
Full Property Details for 1011 W 25th St
General
- Price: $2,395,000
- Taxes: $23,040 (2023)
- Status: Active
- Type: Commercial
- MLS ID: 2300347
- Updated: 3/16/2024
- Added to Site: 44 day(s) ago
Interior
- Flooring: Carpet, Tile, Vinyl
Additional Information
- Equipment: Dryer Connections, Washer Hookup
- Other Features: Garage(s), Residence, Second Residence, Storage
Parking
- Total Spaces: 10
- Parking Features: Additional Parking, Assigned, Attached, Varies by Unit
- Parking Ratio: 2.31
Location
- Area: UT
- County: Travis
- Subdivision: Division D
- Driving Directions: North on N Mopac Expy, turn right onto W 24th St, turn left onto Leon St, property is on your right.
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Radiant
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Structural Information
- # Buildings: 1
- Exterior Const.: Brick, Concrete, Frame
- Foundation: Slab
- Disability Access: None
- Square Feet: 4,318
- Current Bldg. Use: Beauty/Barber Shop, Commercial, Mixed Use, Multi-Family, Residential
- Year Built: 1955
- Property Condition: Resale
Unit Information
- Occupancy Rate: 100
Additional Structures
- Other Structures: Garage(s), Residence, Second Residence, Storage
Lot Features
- Property View: None
- Lot Size (Acres): 0.1148
- Lot Size (Sq. Ft.): 5,000.69
- Lot Size Source: Public Records
- Zoning: CS-MU-V-CO-NP Zoned as CS (Commercial Services) can be used as any General commercial service / MU (Mixed Use) can be used for commercial and/or residential use / V (Vertical Mixed Use) / C
Financial Considerations
- Lot Price Per Sq. Ft.: $478.93
- Tax Amount: $23,040.4
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Documents Avail.: Aerial Photos, Income & Expense Statement, Leases, Profit & Loss Statement, Rent Roll, Survey
- Restrictions: See Remarks
- Inclusions: Building & Land
- Property ID: 1011 W 25th St
Listed by Ready Real Estate LLC
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Schools
Schools serving 1011 W 25th St
School District:Austin Independent School District
Rating | Name | Grades | Distance |
---|---|---|---|
3309 Kerbey Ln, Austin, TX 78703 | PK-5 | 1.1 mi | |
1715 W Cesar Chavez St, Austin, TX 78703 | 9-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1011 W 25th St
Date
Details
Price
Change
Source
3/14/2024
Listed
$2,395,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1011 W 25th St
Year
Property Taxes
Change
Tax Assessment
Change
2022
$27,418
—
$1,273,480
-8%
2022
$27,418
65%
$1,388,294
82%
2021
$16,634
42%
$764,200
45%
2020
$11,748
3%
$527,600
-1%
2020
$11,389
-2%
$530,967
18%
2019
$11,663
19%
$451,504
—
2016
$9,811
-6%
$451,504
3%
2017
$10,474
25%
$439,915
21%
2015
$8,381
-29%
$364,994
-3%
2013
$11,797
—
$377,138
-21%
2013
$11,797
—
$478,939
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1011 W 25th St
1011 W 25th St, Austin, TX 78705 (MLS# 2300347) is a Commercial property. 1011 W 25th St is currently listed for $2,395,000 and was received on March 14, 2024. Want to learn more about 1011 W 25th St? Do you have questions about finding other Commercial real estate for sale in Austin? You can browse all Austin real estate or contact a Coldwell Banker agent to request more information.