The Duplex Store

A fourplex in Austin costs $55-60k per unit, this complex will allow you to stretch your dollar 16 units for nearly $50k per unit -- that's like getting a 4 plex FOR FREE!!!

Also, it gets better, there's an assumable 1st lien with a looooow commercial loan rate! GET AN AMAZING LOW 1ST LIEN RATE, TAKE OVER AT 6.58%. LIEN AMOUNT IS 640K, actual payoff amount varies each month but it is very close to this amount.

2/1 unit mix throughout! No 1/1's or efficiencies that end up in high turnover. These are stable occupied 2/1 units.

90% occupied, rents from $500-$600. Actively being leased out by the manager.

Owner has good manager for the property, manager has responded to all repairs. Property is in excellent development potential position with Light Rail coming in nearby and condos already existing down the street.

Small coin-op shared laundry is also part of the deal! There is a sizable quarterly income just from this - no pun intended.

Is there development potential, YES YES YES, this can be converted to condos or left alone as a cash cow, the location is terrific for either strategy. This property will easily be in the million dollar range within 5 to 7 years, with rents rising each year. Remember, this is still considered part of Crestview, an exclusive north central neighborhood near Allendale, which features million dollar homes and a doctor lawyer neighborhood.

We are looking at ALL reasonable offers. The seller cannot do any financing on this, but the 1st lien is assumable. The buyer would need to put down at least 20% to get a commercial loan and qualify for the assumable. I will do whatever it takes to get you or your clients inside to view the property. Any financials I am getting from the manager I will pass them along, please just get in touch with me. The Seller is motivated and has reduced the price to show it!

Please contact Dave:

dave@texasdavid.com

512-775-1780