Active

701 W 25th ST

Austin TX, 78705

$3,500,000


$796.18 per sqft

Active

4,396 sqft

Commercial

Built in 1979

Unbeatable cash flowing building with seller finance available at unbeatable interest rates******
Seller can offer owner finance at 4.25%, interest only payment with 25% down yielding a monthly payment of only $9296. 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 $17,600,,, property taxes $2488.... Monthly insurance $1069,net income monthly $4746, tenants pay utilities...
All tenants have a one year lease that end in July 2025 and are interested in renewing for 3 years which can be executed prior or after the completion of the sale -------------------------------------------------
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 to potentially up to 24,000. Blue prints and additional info can be provided-----------------------------
The building is located in the University Neighborhood Outlay (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.

3295243

MLS ID

January 3, 2024

Listed

May 28, 2024

Updated

Map

701 W 25th ST
Austin TX, 78705

Interior Features

Total Stories

2


Floor Description

Carpet, Tile, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.13 Acres


Sewer

Public Sewer

Other Property Details

Area Name

UT


Taxes

$32,991


Tax Frequency

Annually


Garage

No


Parking

Asphalt


View

No


View Description

None


County

Travis


Water Source

Public


Pool

No


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

5/13/2024

Price Change

$3,500,000

-8%

Courtesy of eXp Realty, LLC

Listing Contact: (888) 519-7431

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Database last updated 9:36 PM UTC, 5/28/2024

 

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