Updated
402 Algerita DR, Georgetown, TX 78628
For Sale
$550,000
Unit C is vacant, and residents pay their own utility costs through separate metering.
Property Size3,072 SF
Price / SF$179.04
Days on Market48
Property Features for 402 Algerita DR
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Year Renovated
Tenancy
Listing Agency:
Scott Nicholson
(512) 947-2688
Listed By:
Cribs Realty Group
(512) 200-5327
Source:
Cribsrealtygroup
Added: Sep 26
Changed: Nov 12
Last Checked: Nov 12 at 7:57AM
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 Scott Nicholson
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Investment Insights
Based on property information with market context.
Built in 1984, this 3,072-square-foot quadplex has four residential units. Recent capital work includes a full roof replacement in 2024, a new staircase in 2025, and replacement of the air-conditioning equipment serving Units B and C in 2024. Unit D’s A/C was replaced in 2023.
Each unit has separate utility meters, with no shared water meter. Residents are responsible for their utility bills. Unit C is vacant and available to show; access to the other occupied units is available after an executed contract.
Each unit has separate utility meters, with no shared water meter. Residents are responsible for their utility bills. Unit C is vacant and available to show; access to the other occupied units is available after an executed contract.
Key Highlights
- 3,072‑square‑foot quadplex built in 1984
- Full roof replacement completed in 2024
- A/C replaced in Units B and C in 2024; Unit D A/C replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,091
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,820
$941.8K
Cap Rate 7%
$672,729
$672.7K
Cap Rate 9%
$523,233
$523.2K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$90.3K $29.40/SF
− Vacancy
−$4.7K −$1.53/SF
EGI
$85.6K $27.87/SF
− OpEx
−$38.5K −$12.54/SF
NOI
$47.1K $15.33/SF
Area
Williamson County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,820
Cap Rate 7%
$672,729
Cap Rate 9%
$523,233
Alternative Uses
Best Use
Multifamily LT 5
$735.9K
$643.9K – $858.6K
NOI $51,513 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$672.7K
$588.6K – $784.9K
NOI $47,091 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,267 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
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Business Placement
Demographics for 78628, TX
40,378
Population
17,738
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
624
Density / Sq Mi
$117,198
Median Household Income
$58,328
Median Earnings
$1,552
Median Rent
$467,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Unit C is vacant, and residents pay their own utility costs through separate metering.
Where is this quadplex located?
The property is located at 402 Algerita DR Georgetown, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,072‑square‑foot quadplex built in 1984; Full roof replacement completed in 2024; A/C replaced in Units B and C in 2024; Unit D A/C replaced in 2023
