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Crystal Olenbush

512-344-6000
  • 2511 San Gabriel Street

  • $2,195,000 REDUCED
  • 9 Beds, 4 Bath, 3142 SQ. Feet, 0.16 Acres Residential Austin, TX 78705

$200K Price reduction! 6.3% to 7% cap rate with already executed leases. An opportunity to own a Trophy cashflow property in the best possible location in Austin, TX. The property is a few short blocks from the UT campus and less than a mile from DT. This amazing 2023 remodeled house features, new or updated HVAC, plumbing, electrical, appliances, etc. It's a rare, 1 story house in such high demand, that the property has been pre-leased until July 31st, 2025 for $13,800 per mo. and from Aug 2025 until July 31st, 2026 for $15,000 per mo. That is about a 7% cap rate based on the asking price. This is a Core investment opportunity, rarely ever to come up for sale. Selling at a very high cap rate, and low expenses. This opportunity is turn-key with strong rental and price appreciation potential. It is located in the coveted UNO overlay so it also offers an amazing redevelopment future potential. Investment highlights: Core Investment * Strong cap rate and cash flow - ALready rented at $13,800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15,000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16,000/month Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is only one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20% Amazing location in the UNO overlay in West Campus walking distance to UT. Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are very rare and demand for them is oversized. Safe investment as the area is protected from economic fluctuations due to the UT and DT effects. Rent and price appreciation potential. Future re-development potential due to the UNO overlay.

View More Properties in the 78705 Zip Code. View More Properties in the Austin School District.

Essential Information

  • MLS® #3669358
  • Price$2,195,000
  • Bedrooms9
  • Bathrooms4.00
  • Full Baths4
  • Square Footage3,142
  • Acres0.16
  • Year Built1937
  • TypeResidential
  • Sub-TypeSingle Family Residence
  • StatusActive

Community Information

  • Address2511 San Gabriel Street
  • SubdivisionWooten Goodall
  • CityAustin
  • CountyTravis
  • StateTX
  • Zip Code78705

Amenities

  • FeaturesNone
  • ParkingOff Street
  • ViewNone
  • WaterfrontNone

Utilities

Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Interior

  • InteriorLaminate
  • HeatingCentral
  • CoolingCentral Air
  • FireplaceYes
  • # of Fireplaces1
  • FireplacesLiving Room
  • # of Stories1
  • StoriesOne

Appliances

Dryer, Dishwasher, Disposal, Oven, Range, Washer

Exterior

  • Exterior FeaturesNone
  • WindowsWood Frames
  • RoofComposition
  • ConstructionFrame, Stucco
  • FoundationPillar/Post/Pier

Lot Description

Alley, Back Yard, Trees Large Size

School Information

  • DistrictAustin ISD
  • ElementaryBryker Woods
  • MiddleO Henry
  • HighAustin

Map & Directions

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Price Change History for 2511 San Gabriel Street, Austin, TX (MLS® #3669358)

Date Details Price Change
Price Reduced $2,195,000 $100,000 (4.36%)
Price Increased $2,295,000 $100,000 (4.56%)
Price Reduced (from $2,395,000) $2,195,000 $200,000 (8.35%)

Property Listed by: Resavvy Llc

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from May 28th, 2024 at 5:58pm CDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

All information provided is deemed reliable but is not guaranteed and should be independently verified.