701 W 25th ST Austin, TX 78705
UPDATED:
10/28/2024 09:05 PM
Key Details
Property Type Commercial
Sub Type Multi-Family
Listing Status Hold
Purchase Type For Sale
Square Footage 4,396 sqft
Price per Sqft $796
Subdivision Watson
MLS Listing ID 3295243
Originating Board actris
Year Built 1979
Annual Tax Amount $32,990
Tax Year 2023
Lot Size 5,702 Sqft
Property Description
Seller can offer owner finance at 4.25%, interest only payment with 25% down yielding a monthly payment of only $9296. Rate locked in for 3 years then increases 2% a year until it reaches 10 percent on the sixth year***
Current total gross rents is $17,600,,, property taxes $2488.... Monthly insurance $1069,net income monthly $4746, tenants pay utilities...
All tenants have a one year lease that end in July 2025 and are interested in renewing for 3 years which can be executed prior or after the completion of the sale -------------------------------------------------
Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically to potentially up to 24,000. Blue prints and additional info can be provided-----------------------------
The building is located in the University Neighborhood Outlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level.
Location
State TX
County Travis
Zoning GO-NP University Neighborhood Overlay- Outer West Campus 90 Ft Maximum Height
Interior
Heating Central
Cooling Central Air
Flooring Carpet, Tile, Vinyl
Fireplace N
Exterior
Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected
Waterfront No
View None
Accessibility None
Parking Type Asphalt
Total Parking Spaces 8
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Frame,Stone
New Construction No
Others
Restrictions None
Acceptable Financing Assumable, Cash, Conventional, Owner May Carry, See Remarks
Tax Rate 1.97
Listing Terms Assumable, Cash, Conventional, Owner May Carry, See Remarks
Special Listing Condition Standard
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