516 E 40th St - Apartments FOR SALE


Austin, TX 78751- Hyde Park
$1,750,000 USD
512-472-4663
516 E 40th St, Austin, TX for Sale
$1,750,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

516 E 40th St
Austin, TX 78751
Hyde Park


HIGHLIGHTS

  • adjacent to Hancock Park / Golf Course
  • close to University of Texas Law School, St. David's Hospital, University of Texas DKR Memorial Stadium
  • Very high occupancy rate

OVERVIEW

For Sale: "40 Hyde Park Apartments", a high occupancy, money maker. This 10 unit apt complex on 40th St, literally located a chip shot away from the 8th green at Hancock Golf Course. Professionally managed with 6 units as long term rentals and units 101,201,203,204 leased as licensed Short Terms Rentals (Air Bnb with excellent reviews!).units 101,201,204,205 have City of Austin STR licenses in place, a 2023 income statement is attached for these 4 Short Term Rental units, as well as a rent roll and 2023 income statement for the other 6 units that are under longterm leases..NOTE: 204 and 205 just switched to one year leases; currently listing 101 and 201 for year long leases for Jan 1 availability.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$442 USD /SF

# OF UNITS

10

PRICE/UNIT

$175,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

40 Hyde Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,126 SF

ZONING

SF-3-CO-NP

APN/PARCEL ID

02180610080000

ASK ABOUT THIS PROPERTY

John SheppardAustin Real Estate SourceMore Info
512-472-4663

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John SheppardAustin Real Estate SourceMore Info
512-472-4663

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