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Map
$2,195,000
●
House -
Off Market
2511 San Gabriel ST
Austin, TX 78705
9 Beds
4 Baths
3142 Sqft
$12,379
Estimated Monthly
$0
HOA / Fees
About This Property
$200K Price reduction! 6.3% to 7% cap rate with already executed
leases. An opportunity to own a Trophy cashflow property in the
best possible location in Austin, TX. The property is a few short
blocks from the UT campus and less than a mile from DT. This
amazing 2023 remodeled house features, new or updated HVAC,
plumbing, electrical, appliances, etc. It's a rare, 1 story house
in such high demand, that the property has been pre-leased until
July 31st, 2025 for $13,800 per mo. and from Aug 2025 until July
31st, 2026 for $15,000 per mo. That is about a 7% cap rate based on
the asking price. This is a Core investment opportunity, rarely
ever to come up for sale. Selling at a very high cap rate, and low
expenses. This opportunity is turn-key with strong rental and price
appreciation potential. It is located in the coveted UNO overlay so
it also offers an amazing redevelopment future potential.
Investment highlights:
Core Investment * Strong cap rate and cash flow - ALready rented at $13,800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15,000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16,000/month
Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is only one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20%
Amazing location in the UNO overlay in West Campus walking distance to UT.
Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are very rare and demand for them is oversized.
Safe investment as the area is protected from economic fluctuations due to the UT and DT effects.
Rent and price appreciation potential.
Future re-development potential due to the UNO overlay.
Investment highlights:
Core Investment * Strong cap rate and cash flow - ALready rented at $13,800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15,000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16,000/month
Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is only one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20%
Amazing location in the UNO overlay in West Campus walking distance to UT.
Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are very rare and demand for them is oversized.
Safe investment as the area is protected from economic fluctuations due to the UT and DT effects.
Rent and price appreciation potential.
Future re-development potential due to the UNO overlay.
Unit Size
3,142Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$699
Property Type
House
Property Taxes
$1,601
HOA Dues
-
Year Built
1937
Last updated: 7 days ago (Unlock MLS #ACT3669358)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Apr 19, 2024 | In contract | - | |
In contract | |||
Apr 18, 2024 | Price Decreased |
$2,195,000
↓ $100K
(4.4%)
|
|
Price Decreased | |||
Apr 5, 2024 | Price Increased |
$2,295,000
↑ $100K
(4.6%)
|
|
Price Increased | |||
Mar 22, 2024 | Price Decreased |
$2,195,000
↓ $200K
(8.4%)
|
|
Price Decreased | |||
Mar 20, 2024 | Relisted | $2,395,000 | |
Relisted |
Show More
Property Highlights
Parking Available
Air Conditioning
Fireplace
Building Info
Overview
Building
Neighborhood
Geography
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Sold
House
5
Beds
4
Baths
3,289 ft²
$698/ft²
$2,295,000
Sep 21, 2023
-
Nov 30, -0001
$2,821/mo
Sold
House
5
Beds
5
Baths
3,003 ft²
$783/ft²
$2,350,000
Jan 4, 2024
-
Nov 30, -0001
$2,464/mo
Sold
House
3
Beds
2
Baths
2,447 ft²
$815/ft²
$1,995,000
Feb 23, 2024
-
Nov 30, -0001
$131,899/mo
House
4
Beds
4
Baths
2,355 ft²
$892/ft²
$2,100,000
Jan 4, 2024
-
Nov 30, -0001
$1,101/mo
Sold
House
4
Beds
3
Baths
2,736 ft²
$685/ft²
$1,875,000
Nov 3, 2023
-
Nov 30, -0001
$2,090/mo
House
4
Beds
4
Baths
3,733 ft²
$549/ft²
$2,050,000
Mar 1, 2024
-
Nov 30, -0001
$3,523/mo
Active
House
9
Beds
5
Baths
5,088 ft²
$408/ft²
$2,075,000
Feb 9, 2024
-
$2,130/mo
Active
House
4
Beds
4
Baths
3,227 ft²
$728/ft²
$2,350,000
Apr 3, 2024
-
$3,033/mo
Active
House
4
Beds
4
Baths
3,250 ft²
$800/ft²
$2,600,000
Apr 2, 2024
-
$3,679/mo
Active
House
3
Beds
3
Baths
2,768 ft²
$813/ft²
$2,250,000
Mar 18, 2024
-
$2,702/mo
Active
House
4
Beds
4
Baths
3,560 ft²
$673/ft²
$2,395,000
Feb 21, 2024
-
$2,070/mo
In Contract
House
4
Beds
3
Baths
3,323 ft²
$751/ft²
$2,495,000
Jun 19, 2023
-
$4,204/mo