29-Unit Multifamily in Austin, TX
TX · listed Jul 16, 2026 (104 days)
- $/unit
- $635,044
- ▲ 589% vs TX · 99th pct
- Cap rate
- 4.5%
- ▼ 2.9 pts vs TX median
- NOI
- $823K
- $28,365/unit/yr
- Units
- 29
- 2024
Financials
- Asking price
- $18,416,270
- Price per unit
- $635,044
- Price per sq ft
- $688
- Gross rent / year
- $1,100,000
- Net operating income
- $822,572
- NOI per unit
- $28,365
- Cap rate
- 4.5%
- Gross yield
- 6%gross rent ÷ price
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 29
- Unit mix
- 1B/1BA - 19 Units 1B+Den/2BA - 3 Units 2B/2BA - 7 Units
- Buildings
- Not stated
- Year built
- 2024
- Building size
- 26,758 sq ft
- Avg unit size
- 923 sq ft
- Lot size
- Not stated
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 16, 2026
- Days on market
- 104 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 2080
About this property
Vesper presents a rare opportunity to acquire a portfolio of 29 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 29-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, 1304, 1404, 1410, 1504, 1508, 1606, 1608, 1704, 1708, 1710, 1901, 1903, 1904, 1908, 2001, 2002, 2104, 2204, 2302, 2304, 2408, 2708, 2710, 2904, 3004, 3104, 3209
Bed/Bath breakdown:
1B/1BA - 19 Units
1B+Den/2BA - 3 Units
2B/2BA - 7 Units
Total SF: 26,758
Leased Condo Portfolio | 4.47% CAP | 29 Units
Highlights
- $1.1M in annual gross rent, 100% leased
- All 29 units carry executed leases in place today. At a 6.2% gross yield (2.6% 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 $688/SF against a $939/SF average across 112 closed sales in the same building - roughly $5.6 million of embedded value at demonstrated closed pricing.
- 26.5% blended discount to closed comps
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
| Austin, TX | $1.19M | $237K$237K | — |
 Austin, TXStabilized | $2.25M | $141K$141K | 4% |
 Austin, TXNew | $1.65M | $275K$275K | — |
 Austin, TX▼ 11% cutValue-add | $1.25M | $208K$208K | 4.1% |
| Austin, TX | $1.25M | $208K$208K | — |
 Austin, TXNew construction | $20M | $625K$625K | — |