1614 Wheless Ln - Apartments FOR SALE


Austin, TX 78723
$3,200,000 USD
310-968-2454
1614 Wheless Ln, Austin, TX for Sale
$3,200,000 USD
Apartments - FOR SALE
1/11
null | 4.47% Cap Rate

1614 Wheless Ln
Austin, TX 78723


HIGHLIGHTS

  • Prime Windsor Park Location
  • Nearly an Acre of Land
  • Tremendous Upside Potential
  • 8 Vacant Units

OVERVIEW

The subject property is a twenty-two-unit apartment complex built in 1970 and located in the prime, up and coming area of Windsor Park in Austin Texas on an oversized, nearly 1 acre lot. Ideally situated on Wheless Lane, just off Berkman Drive and just south of the 290, this walkup complex has undergone some renovations over the past 5 years but still has significant value add upside. The property boasts a diverse unit mix with one single, seven 1 bedroom, 1-bathroom units and fourteen 2 bedroom, 1 bathroom units. The prime location allows occupants to enjoy all of Austin’s world-famous entertainment, dining and culture, within the comfort of a quiet and luxurious home. 8 UNITS ARE CURRENTLY VACANT The improvements are built on a 41,521 square foot lot with a total rentable square footage of 18,596. There are 50 on-site garage parking spaces on this nearly 1 acre lot. Each well maintained unit is individually metered for gas and electricity.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$129 USD /SF

# OF UNITS

22

PRICE/UNIT

$145,455

CAP RATE

4.47%

% LEASED

77%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sabinal Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,338 SF

ZONING

MF-3

APN/PARCEL ID

02261704110000

ASK ABOUT THIS PROPERTY

Morgan McMullinPartners CREMore Info
310-968-2454

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Morgan McMullinPartners CREMore Info
310-968-2454

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.