$1,700,000
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1505 & 1509 Oreilly CT Austin, TX 78734
7,519 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 7,519 sqft
Price per Sqft $214
Subdivision Cardinal Hills
MLS Listing ID 5572038
Sold Date 10/10/23
Originating Board actris
Year Built 1965
Tax Year 2022
Lot Size 2.537 Acres
Property Description
Investment Opportunity in Austin, Texas - Cash Flow Real Estate with Value-Add Potential
Welcome, investors! This property in Austin, Texas offers excellent cash flow and value-add potential. Spanning 2.6 acres across 2 lots, it includes a 4-plex, duplex, commercial shop, tiny house, and yurt near highway 620.
The tiny house and yurt generated $88k as short-term rentals last year, offering an oasis with hot tubs, a sauna, and a creek. The 4-plex has two 2/1 units and two 1/1 units, unit d was recently updated and is renting for $1,300.
The duplex consists of two 2-bedroom/1-bathroom units. Unit B has undergone a complete remodel, featuring new paint inside and outside, new flooring, cabinets, countertops, appliances, shower, vanities, toilet, interior doors, plugs and switches, and light fixtures. This unit can be rented on a long-term basis for $1,695 per month or can be a valuable addition to the short-term rental market, projected to generate $3,000 to $4,000 monthly due to its serene wooded surroundings.
The commercial shop spans 2,112 square feet and offers a full kitchen, bathroom, and loft room. Equipped with two large garage doors, it is currently leased for $2,200 per month. The property includes two septics and a water well with multiple storage tanks, ensuring ample resources. Additionally, the property has access to Water District 17 water.
Situated just outside of Lakeway and within the ETJ of Austin, this property presents numerous possibilities. With no HOA or restrictions, and surrounded by commercial businesses, you have the freedom to explore various potential uses. One of the owners is a licensed Real Estate Broker in the state of Texas
2022 financials: Gross revenue $180k (Two vacancy remodels). 2023 projected gross: $205k. NOI: $110k. Cap rate: 6.47%.
Don't miss this cash flowing value-add opportunity in Austin, Texas. Contact us to learn more.
Location
State TX
County Travis
Interior
Interior Features Ceiling Fan(s), Sauna
Heating Ceiling, Central, Electric, Propane
Cooling Central Air
Flooring Carpet, Vinyl, Wood
Fireplace Y
Appliance Electric Oven, Free-Standing Electric Range, Free-Standing Gas Range, Refrigerator, Washer/Dryer, Water Heater
Exterior
Exterior Feature Balcony
Garage Spaces 5.0
Fence Wood
Community Features Laundry Room, See Remarks
Utilities Available Electricity Connected, High Speed Internet, Phone Available, Propane, Sewer Connected, Underground Utilities, Water Connected
View Hill Country
Roof Type Composition, Metal
Accessibility None
Porch Covered
Building
Lot Description Private, Many Trees, Views
Faces North
Foundation Pillar/Post/Pier, Slab
Sewer Private Sewer, Septic Tank
Water Well
Level or Stories Two
Structure Type Frame, Wood Siding, Stone
New Construction No
Schools
Elementary Schools Lake Travis
Middle Schools Hudson Bend
High Schools Lake Travis
School District Lake Travis Isd
Others
Pets Allowed Cats OK, Dogs OK
Restrictions See Remarks
Acceptable Financing Cash, Conventional, 1031 Exchange
Tax Rate 1.77
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Pets Allowed Cats OK, Dogs OK
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Bought with All City Real Estate Ltd. Co