Location: 5-minute walk from the University of Texas campus. Property Details: Two 3-plexes with a combined total of 28 bedrooms and 15 bathrooms. Unit mix includes 4, 6, and 4-bedroom layouts per 3-plex. Demand: High demand for large (4-7 bedroom) rental units within walking distance to UT, with limited availability. Properties like these are often pre-leased years in advance. Current Leasing Status: 100% occupied through July 2024 at $1,250 per bedroom ($420,000/year). Pre-leased for August 2024 - July 2025 at $1,350 per bedroom ($453,600/year). Market Rent Potential: Current market rent estimated at $1,550 per bedroom. Projected rent for August 2025 - July 2026 is $1,550-$1,600 per bedroom ($537,600/year). Financials: Low expense ratio (~30% of gross income) due to tax relief, separately metered utilities, and tenant-paid utilities. Cap rate of 5.06% based on August 2024 rents; potential for nearly 6.5% based on August 2025 projections. Key Selling Points: Unmatched location, strong rental demand, low carrying costs, and potential for further rent growth.