$1,800,000
5-Unit Multifamily in Austin, TX
Travis County, TX · listed Jul 26, 2024 (824 days)
Price per unit compared
This property$360K
Within ~40 mi (31)$200K
Texas median (1,196)$92K
- $/unit
- $360,000
- ▲ 291% vs TX · 96th pct
- Cap rate
- 2.9%
- ▼ 4.6 pts vs TX median
- NOI
- $51K
- $10,277/unit/yr
- Units
- 5
- 3 bldg · 1958
Financials
- Asking price
- $1,800,000
- Price per unit
- $360,000
- Price per sq ft
- Not stated
- Gross rent / year
- Not stated
- Net operating income
- $51,385
- NOI per unit
- $10,277
- Cap rate
- 2.9%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 5
- Unit mix
- Not stated
- Buildings
- 3
- Year built
- 1958
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- 0.56 acres
- Condition
- Not stated
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 26, 2024
- Days on market
- 824 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1259
About this property
Prime Investment Opportunity at 607-(address on request), Austin, TX 78751
This exceptional 0.56-acre property is ideally situated for redevelopment in one of Austin’s most vibrant neighborhoods. Zoned MF-3, the 24,477 sq ft of flat land is perfect for multifamily development, offering minimal site prep with few trees.
Redevelopment Ready: MF-3 Zoned Land with Existing Rental Income
Highlights
- Location: Premium North Loop area, close to N Lamar, surrounded by dynamic commercial and residential growth.
- Current Use: Two duplexes and one single-family home, all fully leased, providing immediate rental income.
- Zoning: MF-3, ideal for multifamily redevelopment.
- Revenue: Collect stable rental income while you plan your project.
- Access: Excellent proximity to public transportation, major roadways, and essential amenities.
This property is a rare find, offering substantial development potential and immediate cash flow. Priced for a quick sale, it’s an outstanding opportunity for savvy investors and developers.
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Austin, TXStabilized | $795K | $133K$133K | 8.3%gy |
| Austin, TX | $1.25M | $208K$208K | — |
 Austin, TXNew | $1M | $125K$125K | — |
 Austin, TX▼ 14% cutValue-add | $2.15M | $143K$143K | — |
 Austin, TXStabilized | $2.25M | $141K$141K | 4% |
 Austin, TX | $925K | $116K$116K | 5.8% |