Three-Unit Triplex with Private Outdoor
For Sale
Contact for pricing
202 E 31st Street, Austin, TX 78705
Triplex with two renovated units leased through July 2027, plus a carport-top unit on ETOD-zoned land.
Property Size1,847 SF
Lot Size0.20 Acres
Price / SF$517.05
Days on Market118
Property Features for 202 E 31st Street
General Information
Standard status
Active
Size
1,847 SF
Lot size
0.20 Acres
Property subtype
Multifamily
Zoning
MF-1-NCCD-ETOD-DBETOD-NP
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$45,944
Site & Location
Neighborhood
North University
Additional Details
Multifamily Units
3
Amenities
private outdoor space
Building Details
Year Built
1935
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
REspace LLC
Listed By:
Tony Lazarov · License #TX 9005423
(512) 762-8669
Source:
Crexi
Added: Jun 29
Changed: Oct 14
Last Checked: Oct 23 at 6:51AM
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 REspace LLC
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Investment Insights
Based on property information with market context.
This three-unit triplex includes two separate structures: a front duplex with Units A and B, and a rear carport-top unit (Unit C). Each unit has private outdoor space. Built in 1935 on a pier-and-beam foundation, the property benefits from renovations to two of the three units, with Units A and C fully renovated and leased through July 2027.
The land is MF-1 ETOD-zoned and sits in Austin’s North University area, about two blocks from the University of Texas campus.
Available for purchase as an income-producing asset, the layout supports either continued tenancy or future unit improvements after the July 2027 lease period referenced for Units A and C.
The land is MF-1 ETOD-zoned and sits in Austin’s North University area, about two blocks from the University of Texas campus.
Available for purchase as an income-producing asset, the layout supports either continued tenancy or future unit improvements after the July 2027 lease period referenced for Units A and C.
Key Highlights
- Triplex at 202 E 31st St with 3 income‑producing units on an 8,494 SF MF‑1 lot
- Two of the three units (Units A and B) and Unit C have been fully renovated and are leased through July 2027
- Property includes two structures: a front duplex (Units A and B) and a rear carport‑top unit (Unit C), each with private outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,284
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,680
$545.7K
Cap Rate 7%
$389,771
$389.8K
Cap Rate 9%
$303,156
$303.2K
Market Conditions
NOI Build-Up for 1,847 SF
Gross rent
$41.0K $22.20/SF
− Vacancy
−$2.0K −$1.10/SF
EGI
$39.0K $21.10/SF
− OpEx
−$11.7K −$6.33/SF
NOI
$27.3K $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%
$545,680
Cap Rate 7%
$389,771
Cap Rate 9%
$303,156
Alternative Uses
Best Use
Multifamily LT 5
$389.8K
$341.1K – $454.7K
NOI $27,284 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$358.2K
$313.5K – $418.0K
NOI $25,077 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$723.8K
$633.3K – $844.4K
NOI $50,664 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,858
Businesses Nearby
Explore this area
Business Placement
Demographics for 78705, TX
36,535
Population
12,519
Households
2.9
Avg Household Size
23
Median Age
80%
College-Educated
99%
High-School Grad
2.1 sq mi
ZIP Area
17,398
Density / Sq Mi
$30,336
Median Household Income
$10,994
Median Earnings
$1,520
Median Rent
$627,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with two renovated units leased through July 2027, plus a carport-top unit on ETOD-zoned land.
Where is this triplex located?
The property is located at 202 E 31st Street Austin, TX.
What is the asking price?
The asking price for this property is $955,000.
What are key features of this property?
This property features: Triplex at 202 E 31st St with 3 income‑producing units on an 8,494 SF MF‑1 lot; Two of the three units (Units A and B) and Unit C have been fully renovated and are leased through July 2027; Property includes two structures: a front duplex (Units A and B) and a rear carport‑top unit (Unit C), each with private outdoor space
