1 / 2723-Unit Multifamily in Austin, TX
TX · listed Jul 16, 2026 (108 days)
▼ Reduced 29.7% on Oct 28, 2026, was $18,416,270
- $/unit
- $562,565
- ▲ 463% vs TX · 99th pct
- Cap rate
- —
- Gross yield
- 8.5%
- Units
- 23
- 2024
Financials
- Asking price
- $12,939,000
- Price per unit
- $562,565
- Price per sq ft
- $554
- Gross rent / year
- $1,100,000
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- 8.5%gross rent ÷ price
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 23
- Unit mix
- 1B/1BA - 19 Units 1B+Den/2BA - 3 Units 2B/2BA - 7 Units
- Buildings
- Not stated
- Year built
- 2024
- Building size
- 23,335 sq ft
- Avg unit size
- 1,015 sq ft
- Lot size
- Not stated
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 16, 2026
- Days on market
- 108 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Oct 28, 2026: $18.4M → $12.9M
- Location
- Approximate (~0.5 mi)
- Listing #
- 2080
About this property
Vesper presents a rare opportunity to acquire a portfolio of 23 luxury condominium residences with 12+ month leases already in place, providing immediate cash flow from day one. Each residence is brand new, with current tenants serving as the first occupants, and is being offered below today's replacement cost.
Completed in 2024, Vesper is a 41-story luxury residential tower in the heart of the Rainey Street District of Downtown Austin. This offering combines stabilized rental income with the long-term appreciation potential of newly delivered luxury condominiums in one of Austin's most desirable urban locations.
Investors may acquire the entire 23-unit portfolio or purchase individual residences to fit their investment objectives. Professional onsite property management is already in place, creating a seamless ownership transition, while buyers retain the flexibility to continue with the existing management team or self-manage the properties.
Units in portfolio:
1201, 1203, 1205, 1304, 1405, 1410, 1505, 1606, 1610, 1704, 1708, 1710, 1901, 1908, 2001, 2104, 2210, 2304, 2703, 2706, 2710, 2910, 3209
Bed/Bath breakdown:
1B/1BA - 9 Units
1B+Den/2BA - 6 Units
2B/2BA - 8 Units
Total SF: 23,335
100% Leased Condo Portfolio | 23 Units
Highlights
- $984,540 in annual gross rent, 100% leased
- All 23 units carry executed leases in place today. At a 7.61% gross yield (3.31% net of operating expenses) on the offering price, there is no lease-up risk and room for rent increases YOY.
- The portfolio is offered at a blended $554/SF against a $895/SF average across 130 closed sales in the same building - roughly $7.946 million of embedded value at demonstrated closed pricing.
- 38% blended discount to closed comps
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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