701 W 25th ST Austin, TX 78705
Single Family Attached
MLS #: 2020808
Courtesy Of eXp Realty, LLC
Property InformationDescription
Unbeatable cash flowing building with seller finance available at unbeatable interest rates****** Seller can offer owner finance at 4.25%, interest only payment with 20% down. Rate locked in for 3 years then increases 2% a year until it reaches 10 percent on the sixth year*** Current total gross rents is $30,000 monthly as owner is doing short term rentals. Building consists of 6 one bedroom units renting for $3000 each monthly and 2 two bedroom units bringing in $6000 each monthly.
Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically. Blue prints and additional info can be provided.
The building is located in the University Neighborhood Overlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. Building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level. Fraternity or Sorority house is also an option.
Most units have existing potential to be updated from the current set up of 8 units/10 bedrooms to become 18 single efficiency units which can increase the rents drastically. Blue prints and additional info can be provided.
The building is located in the University Neighborhood Overlay (UNO) , allowing a tear down and a rebuild at much higher limits and redevelopment to increase the cap rate. Building is located at Corner of 25th St and Rio Grande St which is one of two streets that allows for commercial storefront on ground level. Fraternity or Sorority house is also an option.
Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Cooling System: Central Air
- Exterior Type: Frame
- Exterior Type: Stone
- Floor Covering: Vinyl
- Floor Covering: Tile
- Floor Covering: Carpet
- Heating System: Central
- Legal Description: LOT 2 OLT 47 DIV D WATSON SUBD
- MLSID: 2020808
- Parking Spaces: 8
MAP & DIRECTIONS
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