Multifamily Property Renovation
3204 Tom Green Street Austin, TX 78705
3204 Tom Green Street, Austin, TX, 78705
$975,000
For Sale
$975,000
Multifamily property with renovation potential in prime location.
Property Size2,496 SF
Price / SF$390.63
Days on Market1280
Property Features for 3204 Tom Green Street
General Information
- Standard status
- Active
- Size
- 2,496 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1946
Listing Agency
Keller Williams Realty
(512) 659-6991
Listed by
Mike Takao · License #0505130
(512) 659-6991
Source
Compass
Added: Jan 14, 2023 Checked: Jul 17 at 4:07 am
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This multifamily property presents a renovation or redevelopment opportunity in a desirable location. The property includes 6 units: 2 units with 2 bedrooms and 1 bathroom, and 4 units with 1 bedroom and 1 bathroom. There are 8 parking spots available. The front 2 units have central HVAC, while the back 4 units are equipped with window units. The property's total size is 2496 square feet. The current monthly rental income is $3850, which is below market value due to long-term tenancies. This property is intended for residential income purposes.
Key Highlights
- Renovation or redevelopment opportunity awaits.
- Prime location.
- Six total units, featuring 2 two‑bedroom/one‑bath and 4 one‑bedroom/one‑bath 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 | $65.0k | $26.04 |
| − Vacancy | −$3.4k | −$1.35 |
| EGI | $61.6k | $24.69 |
| − OpEx | −$27.7k | −$11.11 |
| NOI | $33.9k | $13.58 |
2,496 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$484.1K
$423.6K – $564.8K
NOI $33,889 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$978.1K
$855.8K – $1.14M
NOI $68,467 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property with renovation potential in prime location.
Where is this apartment building located?
The property is located at 3204 Tom Green Street Austin, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Renovation or redevelopment opportunity awaits.; Prime location.; Six total units, featuring 2 two‑bedroom/one‑bath and 4 one‑bedroom/one‑bath units.
