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    Historic Multifamily Property in Clarksville Title is generated by Realmo AI

    1505 W 12th St, Austin, TX 78703

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    Claim this Listing
    For Sale
    $1,395,000

    Well-maintained multifamily property in the heart of Clarksville, Austin.

    Type:Investment
    Lot size:
    0.18 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    68
    Last Refresh:
    Mar 23 at 12:17 pm

    Property Features for 1505 W 12th St

    General Information

    Standard status
    Active
    Lot size
    0.18 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1947

    We can help!

    Listing Contact
    Doug Roberts

    Listing agent Doug Roberts License #0477156

    Listing office

    Listing date Mar 25, 2026

    Source Elliman

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

    All listing content including descriptions, pricing, images are the copyrighted material of Doug Roberts

    HighLights

    • Prime location in the heart of Clarksville, Old West Austin, known for its high demand and desirable lifestyle.
    • Multifamily zoning offers potential for further development and increased property value.
    • High rental demand with 5 separate units, ensuring consistent income stream.
    • Walkable access to popular restaurants, coffee shops, and amenities like Jeffreys, Josephine House, and Fresh Plus Grocery.
    • Updated interiors with fresh kitchens, hardwood floors, high ceilings, and good separation of space in each unit.
    • Oversized corner lot with alley access, frontage on two streets, ample off‑street parking including multiple driveways and a carport.

    Overview

    Located in the highly desirable Clarksville area of Old West Austin, this historic multifamily property features 5 separate units. Situated on an oversized corner lot with alley access and frontage on both W 12th Street and Eason Street, the property's multifamily zoning allows for further development possibilities. The location offers walkability to restaurants and coffee shops, including Jeffreys, Josephine House, Cipollina, Medici, Taco Flats, Galaxy Cafe, and the Fresh Plus Grocery. The interiors of each unit have been updated with kitchens, hardwood floors, and high ceilings, providing separation of space for tenants. The exterior has been recently painted, and there is off-street parking with multiple driveways, a carport, and a storage area. A live oak tree anchors the corner of the property, surrounded by Clarksville bungalows and renovated homes. Each unit has its own separate meter. The property is located close to downtown, the hike and bike trail, and the amenities of W 6th Street and West Lynn Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Hays
    State
    Texas
    Longitude
    -97.7585295
    Latitude
    30.2797414

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained multifamily property in the heart of Clarksville, Austin.
    Where is this apartment building located?
    The property is located at 1505 W 12th St Austin, TX.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Prime location in the heart of Clarksville, Old West Austin, known for its high demand and desirable lifestyle.; Multifamily zoning offers potential for further development and increased property value.; High rental demand with 5 separate units, ensuring consistent income stream.
    (512) 731-5105
    We can help!
    Listing Contact
    Doug Roberts
    Real Estate License ID: 0477156
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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