Introducing an exciting investment opportunity in the up-and-coming East Austin area! Springdale Commons is the latest development from Austin's premier green builder, Fortunate Foundations. Consisting of eight units, this unique complex is perfectly positioned to capitalize on the area's growth and potential. Expected completion date August 2023. Located in the heart of East Austin, this development offers a prime location that is attracting attention from investors and residents alike. With its vibrant arts scene, trendy restaurants, and proximity to downtown, East Austin is quickly becoming one of the most sought-after neighborhoods in the city. The complex itself boasts 8 energy-efficient units across 3 buildings enveloped in continuous thermal and noise-insulating foam. These modern, eco-friendly features not only provide residents with a comfortable and tranquil living experience but also contribute to reduced energy costs and a smaller carbon footprint. One of the unique advantages of this property is its commercial zoning, allowing for the allocation of two units specifically designated for short-term rentals (STRs). With the increasing popularity of Austin as a tourist destination, STRs present an excellent opportunity to maximize your investment returns. Buyer to verify. As you evaluate the financials, rest assured that this property offers a competitive Cap Rate of 4.6% and an impressive ProForma Cap Rate of 5.8%. Perform a thorough analysis of the projected rental income from long-term leases, as well as the potential income from the designated STR units. Don't miss your chance to be part of the East Austin growth story. This multi-family complex presents an ideal blend of location, energy efficiency, and investment potential. Contact us today to secure your place in this thriving community and start reaping the benefits of this exceptional opportunity.
Electricity Connected, Sewer Connected, Water Connected
Frame, Glass, HardiPlank Type, Concrete
|Price Reduced (from $5,900,000)
Property Listed by: Keller Williams Realty
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Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from February 23rd, 2024 at 8:25pm CST. 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.