Eight-Unit Multifamily
For Sale
Contact for pricing
208-210 N Vanderveer Street, Burnet, TX 78611
Eight-unit multifamily property with four two-bedroom and four one-bedroom residences, partially under leases through 2027.
Property Size5,944 SF
Price / SF$100.94
Days on Market106
Property Features for 208-210 N Vanderveer Street
General Information
Standard status
Active
Size
5,944 SF
Class
C
Property subtype
Multifamily
Occupancy
87%
Investment Type
Stabilized
Net Operating Income
$48,093
Additional Details
Multifamily Units
8
Building Details
Year Built
1977
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
REspace LLC
Listed By:
Tony Lazarov · License #TX 9005423
(512) 762-8669
Source:
Crexi
Added: Jul 9
Changed: Oct 10
Last Checked: Oct 20 at 6:58PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
208-210 N Vanderveer is an eight-unit multifamily community consisting of four two-bedroom residences and four one-bedroom residences. The property is professionally managed by ManagePro LLC and is currently owned by SANN Investments, Inc.
Five units are occupied under leases extending into 2027, with three additional units in active lease-up. Owner-paid water and sewer service is partially recovered through tenant utility chargebacks, while electricity is tenant-paid.
This is a residential income property configured as a small eight-unit apartment community, with a mix of one- and two-bedroom layouts and current occupancy that includes both leased and in-lease-up units.
Five units are occupied under leases extending into 2027, with three additional units in active lease-up. Owner-paid water and sewer service is partially recovered through tenant utility chargebacks, while electricity is tenant-paid.
This is a residential income property configured as a small eight-unit apartment community, with a mix of one- and two-bedroom layouts and current occupancy that includes both leased and in-lease-up units.
Key Highlights
- Eight‑unit multifamily community built in 1977
- Unit mix includes four 2‑bedroom and four 1‑bedroom residences
- Five units currently occupied under leases extending into 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,920
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,400
$1.1M
Cap Rate 7%
$770,286
$770.3K
Cap Rate 9%
$599,111
$599.1K
Market Conditions
NOI Build-Up for 5,944 SF
Gross rent
$104.9K $17.64/SF
− Vacancy
−$6.8K −$1.15/SF
EGI
$98.0K $16.49/SF
− OpEx
−$44.1K −$7.42/SF
NOI
$53.9K $9.07/SF
Area
Burnet County, TX
Vacancy
6.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,400
Cap Rate 7%
$770,286
Cap Rate 9%
$599,111
Alternative Uses
Best Use
Apartment 5plus
$770.3K
$674.0K – $898.7K
NOI $53,920 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.48M
$3.92M – $5.22M
NOI $313,397 @ 7.0% cap · market cap 52.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 78611, TX
14,839
Population
7,417
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
274.1 sq mi
ZIP Area
54
Density / Sq Mi
$78,243
Median Household Income
$40,062
Median Earnings
$1,111
Median Rent
$291,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with four two-bedroom and four one-bedroom residences, partially under leases through 2027.
Where is this apartment building located?
The property is located at 208-210 N Vanderveer Street Burnet, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Eight‑unit multifamily community built in 1977; Unit mix includes four 2‑bedroom and four 1‑bedroom residences; Five units currently occupied under leases extending into 2027
