for sale campus flats - loopnet · campus flats for sale multifamily redevelopment opportunity 2201...

CAMPUS FLATSFOR SALE

Multifamily Redevelopment Opportunity2201 Leon St., Austin, TX 78705

Asterra.com3305 Steck Ave. Suite 250, Austin, TX 78757

Tim Howard512.909.3590

[email protected]

PROPERTY DESCRIPTIONCampus Flats is a 5-unit (plus garage) multifamily property located in the heart of West Campus just steps from all of UT’s main hot spots. Prime 78705 location just a short walk to UT Campus / The Drag. 5-10 minute drive (even during rush hour) to Downtown. Laundromat and grocery store within 3 blocks. Quiet street, only 4 units in the building, very private. Newly refurbished, open studio floor plan. Gas range in each unit. Large walk-in closets for residents. Street parking available with easy/inexpensive permit application process.

Colorful, active, dynamic, energetic, diverse – all of these apply to West Campus, and with its large amount of students in the neighborhood, it’s easy to see why. The brightly-painted buildings, the trendy little pizza joints, and even the amount of bicycles in the area help define this neighborhood as a haven for University of Texas-Austin students. But even if you aren’t a student, this neighborhood is terrific – there are plenty of apartments to choose from, the housing stock is diverse, and the location is ideal.

West Campus extends from Lamar Boulevard to “the Drag,” or Guadalupe Street. The Drag is where you’ll find a wide selection of shops, restaurants, and bars. These include local favorites like Cabo Bob’s, Halal Bros, the Spider House Café and Ballroom, and Kerbey Lane Café. On the west side, things are a little quieter with Pease Park and the Shoal Creek Greenbelt framing the area. No matter where in West Campus you choose to rent, you’ll be well within walking distance of campus, the Museum District, and Austin Community College.



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LISTING DETAILSPrice: $1,300,000

Property Type: Multifamily

Sub Type: Student Housing

Investment Type: Redevelopment

Class: C

Square Footage: 2,800 SF

Net Rentable: 2,800 SF

Occupancy: 100%

NOI: $37,092

Units: 6

Buildings: 1

Year Built/Renovated: 1956/2017

Zoning: MF4

Lot Size: 6,750 SF

Parking Per Unit: 1

Stable Cash Flow Alley Access

Value Add With 6th Unit Huge Potential as Residential Development

Ideally Located High Rental Renew Rate

INVESTMENT HIGHLIGHTS



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DEMOGRAPHICS

1 MILE 3 MILES

Total Households: 15,034

Total Population: 41,758

Average HH Income: $24,282

Total Households: 79,213

Total Population: 173,243

Average HH Income: $71,039

DISCLAIMER: The information contained herein has been obtained from sources deemed reliable, but has not been verified and no guarantee, warranty, or representation, either express or implied, is made with respect said information. All information contained herein should be independently verified; Agent assumes no legal responsibility for the accuracy thereof. The offering is made subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.

The Campus Flats are located in the heart of West Campus, just steps from all of UT’s main hotspots. The property hosts huge potential as a redevelopment site for a multifamily project. Projected population growth of 8.9+% in the next five years.



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Valley Vista152 Lots

WHAT’S NEARBY2201 Leon Street provides easy and quick access to nearby highways, downtown Austin, and other desired locations. Many nearby amenities within a 2-mile radius include:

Univeristy of Texas

Texas Capitol

Pluckers Wing Bar

Chick-fil-A

Raising Cane’s

Starbucks

Trudy’s

Crown & Anchor Pub

The Tavern

6th Street

“The Drag”

+ More



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2201 LEON ST - RENT ROLL



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PHOTOS - EXTERIOR



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PHOTOS - INTERIOR



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for sale campus flats - loopnet · campus flats for sale multifamily redevelopment opportunity 2201...

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