3-Unit Townhome-Style
1937 E 38th and a Half Street A B and C, Austin, TX 78723
For Sale
$2,195,000
Three separately arranged residences combine established rental activity with flexibility for long-term or short-term occupancy.
Property Size6,234 SF
Price / SF$352.10
Days on Market56
Property Features for 1937 E 38th and a Half Street A B and C
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Uptown Realty LLC
(512) 651-0505
Listed By:
Will Sheddan
(512) 919-6155
Source:
Texasopendoor
Added: Sep 15
Changed: Nov 9
Last Checked: Nov 8 at 5:23PM
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 Uptown Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2025-built triplex contains three individually configured, townhome-style residences with modern layouts and finishes. The property totals 6,234 square feet and is presented for ongoing rental use, with existing income and bookings in place.
The residences support both long-term and short-term rental strategies. Rental agreements and bookings provide flexibility to adjust the operating mix over time.
The residences support both long-term and short-term rental strategies. Rental agreements and bookings provide flexibility to adjust the operating mix over time.
Key Highlights
- Three townhome‑style residences in a 6,234‑square‑foot triplex
- Built in 2025
- Existing income, rental agreements, and short‑term bookings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,091
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,820
$1.8M
Cap Rate 7%
$1,315,586
$1.3M
Cap Rate 9%
$1,023,233
$1.0M
Market Conditions
NOI Build-Up for 6,234 SF
Gross rent
$138.4K $22.20/SF
− Vacancy
−$6.8K −$1.10/SF
EGI
$131.6K $21.10/SF
− OpEx
−$39.5K −$6.33/SF
NOI
$92.1K $14.77/SF
Area
Austin, TX
Vacancy
4.94%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,820
Cap Rate 7%
$1,315,586
Cap Rate 9%
$1,023,233
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.15M – $1.53M
NOI $92,091 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,641 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,003 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 78723, TX
34,522
Population
17,065
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
4,862
Density / Sq Mi
$87,978
Median Household Income
$54,769
Median Earnings
$1,478
Median Rent
$513,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately arranged residences combine established rental activity with flexibility for long-term or short-term occupancy.
Where is this triplex located?
The property is located at 1937 E 38th and a Half Street A B and C Austin, TX.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Three townhome‑style residences in a 6,234‑square‑foot triplex; Built in 2025; Existing income, rental agreements, and short‑term bookings
