Garden-Style Multifamily
3107 Speedway Austin, TX 78705
3107 Speedway, Austin, TX, 78705
$2,900,000
For Sale
$2,900,000
Two-story garden-style apartment building with 1-bedroom units over under-building parking and individual HVAC.
Property Size8,506 SF
Price / SF$340.94
Days on Market135
Property Features for 3107 Speedway
General Information
- Standard status
- Active
- Size
- 8,506 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing agency
Muskin Elam Group LLC
(512) 343-2700
Listed by
Sally Burns
Source
Buttross
Added: Mar 9 Updated: Jul 21 at 3:13AM Checked: Jul 21 at 3:13AM
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 Muskin Elam Group LLC
Investment Insights
Based on property information with market context.
The Parker at Hyde Park is a two-story, garden-style multifamily property with 100% one-bedroom units. The units feature vaulted ceilings with exposed wood beams, walk-in closets, gas ranges, and individual HVAC units. The building is configured over under-building parking, and a limited number of units have been recently renovated.
The property is located in the heart of Hyde Park, about two blocks north of the University of Texas. It offers dual-street parking access via Speedway and Helms Street, and includes an on-site laundry facility and community bike racks. The property’s lot carries favorable NO-NCCD-ETOD zoning.
Additional unit and site details are limited to those provided, including an approximately 550-square-foot unit size. The building’s current layout and unit improvements support a value-add approach through further interior upgrades, with the potential to reduce operating expenses via additional renovations.
The property is located in the heart of Hyde Park, about two blocks north of the University of Texas. It offers dual-street parking access via Speedway and Helms Street, and includes an on-site laundry facility and community bike racks. The property’s lot carries favorable NO-NCCD-ETOD zoning.
Additional unit and site details are limited to those provided, including an approximately 550-square-foot unit size. The building’s current layout and unit improvements support a value-add approach through further interior upgrades, with the potential to reduce operating expenses via additional renovations.
Key Highlights
- Two‑story, garden‑style apartment building built in 1965 with 100% 1‑bedroom units
- 100% of units are approximately 550 sq. ft. with vaulted ceilings and exposed wood beams
- Units include walk‑in closets, gas ranges, and individual HVAC units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $221.5k | $26.04 |
| − Vacancy | −$11.5k | −$1.35 |
| EGI | $210.0k | $24.69 |
| − OpEx | −$94.5k | −$11.11 |
| NOI | $115.5k | $13.58 |
8,506 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,488 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.92M – $3.89M
NOI $233,325 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-story garden-style apartment building with 1-bedroom units over under-building parking and individual HVAC.
Where is this apartment building located?
The property is located at 3107 Speedway Austin, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Two‑story, garden‑style apartment building built in 1965 with 100% 1‑bedroom units; 100% of units are approximately 550 sq. ft. with vaulted ceilings and exposed wood beams; Units include walk‑in closets, gas ranges, and individual HVAC units
