2511 San Gabriel Street, Austin, TX

$1,995,000

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9

Beds

4

Baths

3,142

Square feet

0.16

Acres

About 2511 San Gabriel Street

$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.

Features of 2511 San Gabriel Street

MLS® # 3669358
Price $1,995,000
Bedrooms 9
Bathrooms 4.00
Full Baths 4
Square Footage 3,142
Acres 0.16
Year Built 1937
Type Residential
Sub-Type Single Family Residence
Status Active

Community Information

Address 2511 San Gabriel Street
Area UT
Subdivision Wooten Goodall
City Austin
County Travis
State TX
Zip Code 78705

Amenities

Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Features None
Parking Off Street
View None
Is Waterfront No
Waterfront None
Has Pool No

Interior

Interior Laminate
Appliances Dishwasher, Disposal, Dryer, Oven, Range, Washer
Heating Central
Fireplace Yes
# of Fireplaces 1
Fireplaces Living Room
# of Stories 1
Stories One
Master On Main Yes

Exterior

Exterior Features None
Lot Description Back Yard, Alley, Trees Large Size
Roof Composition
Construction Frame, Stucco
Foundation Pillar/Post/Pier

School Information

District Austin ISD
Elementary Bryker Woods
Middle O Henry
High Austin

Additional Information

Date Listed January 18th, 2024
Days on Market 74
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeResavvy LLC
Contact Info(512) 762-8669

Listing Map

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