Pending

2904 Pearl ST

Austin TX, 78705

$1,215,000


$420.12 per sqft

Pending

2,892 sqft

Multi-family

Built in 1950

Located in the sought-after Heritage neighborhood just blocks from UT campus, this meticulously maintained quadplex presents a lucrative investment opportunity. All four units are currently leased through 7/31/2024, showcasing a history of consistent and effortless leasing each year.
Recent substantial investments of over $100,000 have elevated the property's value. Upgrades include a reinforced foundation with adjustable steel beams, new energy-efficient windows with lifetime warranty, and a modern sewer line equipped with a grinder pump for enhanced functionality.
The front two units showcase the original charm of the property with hardwood floors and preserved wood trim, reflecting the original architecture. In contrast, the back two units, an addition, feature vaulted ceilings that impart an open and spacious ambiance throughout.
Enjoy the abundance of natural light that bathes the entire property, creating a warm and inviting atmosphere. Ample parking is available, including front driveways, side parking, and designated spots in the back alley. A shared coin-operated laundry facility adds convenience for tenants and additional income.
Indulge in the serene outdoor spaces, with each unit boasting a covered porch area. The property is thoughtfully landscaped with privacy bamboo, a protective fence, and mature trees encircling the perimeter, providing a tranquil living environment.
With three 1/1 units and one 2/1 unit, generating a monthly income of $6205, this quadplex is a sound investment with potential for future growth. The property is zoned MF-2 opening it up for potential future opportunities. Several tenants have already expressed interest in renewing, underlining the property's desirability and stability in the rental market. Don't miss out on this exceptional opportunity for a thriving investment property. Please DO NOT disturb the tenants.

8653104

MLS ID

February 14, 2024

Listed

April 23, 2024

Updated

Map

2904 Pearl ST
Austin TX, 78705

Interior Features

Total Stories

1


Interior Features

Breakfast Bar, Vaulted Ceiling(s), Granite Counters, Laminate Counters, Primary Bedroom on Main


Appliances

Dishwasher, Free-Standing Electric Oven, Free-Standing Electric Range, Refrigerator, Washer/Dryer


Floor Description

Laminate, Linoleum, Tile, Vinyl, Wood


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.19 Acres


Exterior Features

None


Lot Features

Level, Trees-Large (Over 40 Ft)


Roof

Shingle


Sewer

Public Sewer

School Information

School District

Austin ISD


High School

Austin


Elementary School

Bryker Woods

Other Property Details

Area Name

UT


Taxes

$17,045


Tax Frequency

Annually


Garage

No


Parking

Additional Parking, Alley Access, Paved, Shared Driveway


View

Yes


View Description

Neighborhood


County

Travis


Water Source

Public


Pool

No


Pool Features

None


Buyer Agency Compensation

3%

Listing History

Date

Event

Price

4/23/2024

Pending

4/10/2024

Under Contract

4/4/2024

Price Change

$1,215,000

-5%

3/19/2024

Price Change

$1,275,000

-5%

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 4:08 PM UTC, 4/23/2024

 

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