Four-Unit Renovated
3814 Southway DR, Austin, TX 78704
For Sale
$1,450,000
All four residences are configured with two bedrooms and one-and-a-half bathrooms.
Property Size4,030 SF
Price / SF$359.80
Days on Market183
Property Features for 3814 Southway DR
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Compass RE Texas, LLC
Listed By:
Scott Hayes
(512) 375-8945
Source:
Friedmanrealtors
Added: May 11
Changed: Nov 8
Last Checked: Nov 8 at 1:01PM
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 Compass RE Texas, LLC
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Investment Insights
Based on property information with market context.
This 4,030-square-foot quadplex contains four units, each with a two-bedroom, one-and-a-half-bath layout. Built in 1971, the property is undergoing a substantial renovation, with completion anticipated in June 2025. Planned work includes replacement of the roof, HVAC systems, plumbing, electrical, insulation, windows, and cabinetry, alongside updated kitchens, contemporary bathrooms, and open living areas.
The property is in Austin’s 78704 area, minutes from South Lamar, Downtown Austin, Barton Springs, and Zilker Park. The source also identifies proximity to major employers and entertainment districts.
The property is in Austin’s 78704 area, minutes from South Lamar, Downtown Austin, Barton Springs, and Zilker Park. The source also identifies proximity to major employers and entertainment districts.
Key Highlights
- Four units, each with 2 bedrooms and 1.5 bathrooms
- 4,030 square feet
- Renovation completion anticipated in June 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,179
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,343,580
$1.3M
Cap Rate 7%
$959,700
$959.7K
Cap Rate 9%
$746,433
$746.4K
Market Conditions
NOI Build-Up for 4,030 SF
Gross rent
$101.6K $25.20/SF
− Vacancy
−$5.6K −$1.39/SF
EGI
$96.0K $23.81/SF
− OpEx
−$28.8K −$7.14/SF
NOI
$67.2K $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 Rate 5%
$1,343,580
Cap Rate 7%
$959,700
Cap Rate 9%
$746,433
Alternative Uses
Best Use
Multifamily LT 5
$959.7K
$839.7K – $1.12M
NOI $67,179 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$882.5K
$772.2K – $1.03M
NOI $61,777 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,636 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,944
Businesses Nearby
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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
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Market
Properties on Market for Quadplexes in Austin
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are configured with two bedrooms and one-and-a-half bathrooms.
Where is this quadplex located?
The property is located at 3814 Southway DR Austin, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1.5 bathrooms; 4,030 square feet; Renovation completion anticipated in June 2025
