Four-Unit Multifamily
1917 Miles Ave, Austin, TX 78745
For Sale
New
$1,595,000
Two structures accommodate four rental units, with separate entrances and outdoor spaces across a landscaped residential property.
Property Size4,988 SF
Lot Size0.70 Acres
Days on Market1
Property Features for 1917 Miles Ave
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
decks
studio/playroom
enclosed vegetable garden
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
van Heuven Properties
Listed By:
Karen Kelly · License TX #0543850
(512) 569-5878
Source:
Elliman
Added: Nov 10
Last Checked: Nov 10 at 2:31PM
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 van Heuven Properties
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Investment Insights
Based on property information with market context.
Set on 0.70 acres, this multifamily property includes four rentable units in two structures. The front residence is a Craftsman-style home built in 1917. Its main level has two bedrooms, two bathrooms, wood floors, built-ins, and a kitchen with Sub-Zero and Wolf appliances. A third bedroom and full bathroom occupy the upper level, which has a separate entrance. Two apartments at the rear were built in 2011 and are separately metered.
Outdoor features include two decks, a bonus studio or playroom, and a 1,600-square-foot enclosed vegetable garden. The two rear apartments have private access and views beneath the tree canopy. Together, the property’s combination of a historic home, additional residential units, and outdoor areas offers a varied four-unit configuration.
Outdoor features include two decks, a bonus studio or playroom, and a 1,600-square-foot enclosed vegetable garden. The two rear apartments have private access and views beneath the tree canopy. Together, the property’s combination of a historic home, additional residential units, and outdoor areas offers a varied four-unit configuration.
Key Highlights
- Four rentable units distributed across two structures
- 0.70‑acre property with a 1917 Craftsman‑style home
- Main residence has two bedrooms and two bathrooms on the main level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,483
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,660
$1.5M
Cap Rate 7%
$1,049,757
$1.0M
Cap Rate 9%
$816,478
$816.5K
Market Conditions
NOI Build-Up for 4,988 SF
Gross rent
$110.7K $22.20/SF
− Vacancy
−$5.8K −$1.15/SF
EGI
$105.0K $21.05/SF
− OpEx
−$31.5K −$6.31/SF
NOI
$73.5K $14.73/SF
Area
ZIP 78745
Vacancy
5.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,660
Cap Rate 7%
$1,049,757
Cap Rate 9%
$816,478
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$918.5K – $1.22M
NOI $73,483 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$969.5K
$848.3K – $1.13M
NOI $67,866 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$2.09M
$1.82M – $2.43M
NOI $145,958 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
958
Businesses Nearby
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Business Placement
Demographics for 78745, TX
59,843
Population
31,246
Households
1.9
Avg Household Size
36
Median Age
54%
College-Educated
93%
High-School Grad
13.7 sq mi
ZIP Area
4,368
Density / Sq Mi
$84,529
Median Household Income
$56,551
Median Earnings
$1,655
Median Rent
$459,100
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Austin, TX
Properties on Market for Multifamily properties in Austin
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two structures accommodate four rental units, with separate entrances and outdoor spaces across a landscaped residential property.
Where is this multifamily property located?
The property is located at 1917 Miles Ave Austin, TX.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Four rentable units distributed across two structures; 0.70‑acre property with a 1917 Craftsman‑style home; Main residence has two bedrooms and two bathrooms on the main level
