Multi-Property Quadplex
For Sale
$1,360,000
251 Zimmerman Ave A-b-c-d, Bastrop, TX 78602
Income-producing residential package combining a four-unit building with two duplexes and varied unit configurations.
Property Size2,304 SF
Price / SF$590.28
Days on Market82
Property Features for 251 Zimmerman Ave A-b-c-d
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Building Details
Year Built
2004
Listing Agency:
Heart of the Pines Real Estate
Listed By:
Laura Munos · License #0655390
(512) 705-0420
Source:
Texasrealtygroup
Added: Aug 15
Changed: Oct 25
Last Checked: Oct 5 at 8:05PM
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 Heart of the Pines Real Estate
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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.
This residential income package includes a four-unit building at 251 Zimmerman Ave and duplexes at 261 and 263 Zimmerman Ave, offered together. The quadplex contains four 2/1 units measuring 576 square feet each, with one vacant unit and one pending unit. Features include window units, refrigerators, dishwashers, stoves, and stackable washer and dryer units in some apartments.
Each duplex includes two 3/2 units measuring 1,100 square feet each. The duplex improvements offer central air and heat, dishwashers, stoves, washer and dryer connections, and fenced backyard areas. Water and lawn service are included in the rental arrangements because each property has one meter. The properties were built in 2004 and are located in Bastrop, Texas.
Each duplex includes two 3/2 units measuring 1,100 square feet each. The duplex improvements offer central air and heat, dishwashers, stoves, washer and dryer connections, and fenced backyard areas. Water and lawn service are included in the rental arrangements because each property has one meter. The properties were built in 2004 and are located in Bastrop, Texas.
Key Highlights
- 251 Zimmerman Ave includes a 4‑plex with four 2/1 units at 576 sq ft each
- 261 and 263 Zimmerman Ave each contain two 3/2 units measuring 1,100 sq ft each
- Quadplex features window units, refrigerators, dishwashers, stoves, and stackable washers and dryers in some units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,635
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$772,700
$772.7K
Cap Rate 7%
$551,929
$551.9K
Cap Rate 9%
$429,278
$429.3K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$58.1K $25.20/SF
− Vacancy
−$2.9K −$1.24/SF
EGI
$55.2K $23.96/SF
− OpEx
−$16.6K −$7.19/SF
NOI
$38.6K $16.77/SF
Area
Bastrop County, TX
Vacancy
4.94%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$772,700
Cap Rate 7%
$551,929
Cap Rate 9%
$429,278
Alternative Uses
Best Use
Multifamily LT 5
$551.9K
$482.9K – $643.9K
NOI $38,635 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$504.5K
$441.5K – $588.6K
NOI $35,318 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$902.9K
$790.0K – $1.05M
NOI $63,200 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 78602, TX
33,759
Population
13,485
Households
2.5
Avg Household Size
40
Median Age
27%
College-Educated
87%
High-School Grad
195.3 sq mi
ZIP Area
173
Density / Sq Mi
$86,976
Median Household Income
$41,644
Median Earnings
$1,331
Median Rent
$310,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential package combining a four-unit building with two duplexes and varied unit configurations.
Where is this quadplex located?
The property is located at 251 Zimmerman Ave A-b-c-d Bastrop, TX.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: 251 Zimmerman Ave includes a 4‑plex with four 2/1 units at 576 sq ft each; 261 and 263 Zimmerman Ave each contain two 3/2 units measuring 1,100 sq ft each; Quadplex features window units, refrigerators, dishwashers, stoves, and stackable washers and dryers in some units
