Stabilized Quadplex in Austin's
For Sale
$1,200,000
2306 Barton Village CIR, Austin, TX 78704
Remodeled, tenant-occupied quadplex in Austin's desirable South Lamar corridor.
Property Size3,526 SF
Price / SF$340.33
Days on Market137
Property Features for 2306 Barton Village CIR
General Information
Standard status
Active
Size
3,526 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$22,124
Amenities
Ceiling Fan(s), Central Air
Central
Dishwasher, Free-Standing Range, Refrigerator
Building Details
Year Built
1967
Listing Agency:
(512) 909-3943
Listed By:
Or Yochanan
(512) 909-3943
Source:
Evrealestate
Added: Apr 15
Changed: Aug 26
Last Checked: Aug 29 at 6:16AM
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 Or Yochanan
Investment Insights
Based on property information with market context.
This stabilized quadplex presents a rare opportunity to acquire a turnkey multifamily asset in Austin's resilient 78704 submarket. Located at 2306 Barton Village Circle, this property has been fully remodeled to a premium, modern standard. Each of the four 1BR/1.5BA loft units has been meticulously renovated, featuring designer kitchens with quartz countertops, shaker-style cabinetry, and custom subway tile backsplashes. Modern flooring includes high-end luxury vinyl plank (LVP) throughout, ensuring durability and tenant appeal. Each unit also features a built-in butcher block workstation, catering to Austin’s remote workforce, along with a full stainless steel appliance package and private laundry setup. The property is currently fully occupied, providing immediate cash flow. New modern finishes, a slab foundation, and brick/masonry construction minimize future maintenance costs. Situated in a quiet cul-de-sac, the location is walkable to Mouton’s, Stiles Switch BBQ, and the Alamo Drafthouse, and minutes from Zilker Park and Downtown Austin. The 78704 area is a primary target for investors due to its constrained supply and high demand from Austin’s tech and creative sectors. The property has a bike score of 83, indicating it is very bikeable, a walk score of 74, indicating it is very walkable, and a transit score of 46, indicating some transit options are available.
Key Highlights
- Fully renovated quadplex in prime 78704 location, offering immediate cash flow with 100% occupancy.
- Completely remodeled units featuring designer kitchens, modern flooring (LVP), and tech‑forward workstations appealing to high‑earning tenants.
- Low CapEx investment due to recent renovations, slab foundation, and durable brick/masonry construction.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,778
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,175,560
$1.2M
Cap Rate 7%
$839,686
$839.7K
Cap Rate 9%
$653,089
$653.1K
Market Conditions
NOI Build-Up for 3,526 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.9K $25.20/SF
− Vacancy
−$4.9K −$1.39/SF
EGI
$84.0K $23.81/SF
− OpEx
−$25.2K −$7.14/SF
NOI
$58.8K $16.67/SF
Area
ZIP 78704
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,175,560
Cap Rate 7%
$839,686
Cap Rate 9%
$653,089
Alternative Uses
Best Use
Multifamily LT 5
$839.7K
$734.7K – $979.6K
NOI $58,778 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$772.2K
$675.6K – $900.9K
NOI $54,051 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,924 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 78704, TX
49,197
Population
29,959
Households
1.6
Avg Household Size
34
Median Age
70%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
5,591
Density / Sq Mi
$97,160
Median Household Income
$67,527
Median Earnings
$1,755
Median Rent
$862,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled, tenant-occupied quadplex in Austin's desirable South Lamar corridor.
Where is this quadplex located?
The property is located at 2306 Barton Village CIR Austin, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully renovated quadplex in prime 78704 location, offering immediate cash flow with 100% occupancy.; Completely remodeled units featuring designer kitchens, modern flooring (LVP), and tech‑forward workstations appealing to high‑earning tenants.; Low CapEx investment due to recent renovations, slab foundation, and durable brick/masonry construction.
