10-Unit Apartment Complex with
516 East 40th Street Austin, TX 78751
For Sale
$1,500,000
Ten-unit apartment complex with shared washer/dryer and two storage rooms at 516 E 40th Street.
Property Size3,960 SF
Price / SF$378.79
Days on Market1039
Property Features for 516 East 40th Street
General Information
- Standard status
- Active
- Size
- 3,960 SF
- Property subtype
- Commercial Sale / Apartment
Building Details
- Year Built
- 1972
Listing Agency:
Austin Home Source
(512) 626-4663
Listed By:
John Sheppard · License #0448360
(512) 626-4663
Source:
Compass
Added: Sep 19, 2023
Changed: Jul 23
Last Checked: Jul 23 at 7:43AM
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 Austin Home Source
Investment Insights
Based on property information with market context.
This 10-unit apartment complex at 516 East 40th Street consists of 10 well-maintained units plus two storage rooms and a washer/dryer.
The property is positioned in Austin’s Hyde Park area, described as being near Hancock Golf Course and within reach of St. David’s Hospital, the University of Texas Law School, and DKR Memorial Stadium. The surrounding neighborhood is characterized by tree-lined streets and nearby restaurants, shops, and cultural attractions, supporting a convenient, in-town setting for tenants.
For sale as an income property, it offers a straightforward multifamily setup with on-site amenities through the provided laundry and additional storage space.
The property is positioned in Austin’s Hyde Park area, described as being near Hancock Golf Course and within reach of St. David’s Hospital, the University of Texas Law School, and DKR Memorial Stadium. The surrounding neighborhood is characterized by tree-lined streets and nearby restaurants, shops, and cultural attractions, supporting a convenient, in-town setting for tenants.
For sale as an income property, it offers a straightforward multifamily setup with on-site amenities through the provided laundry and additional storage space.
Key Highlights
- 10‑unit apartment complex at 516 E 40th Street
- Year built: 1972
- Shared washer/dryer and 2 storage rooms on‑site for additional income
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 | $103.1k | $26.04 |
| − Vacancy | −$5.4k | −$1.35 |
| EGI | $97.8k | $24.69 |
| − OpEx | −$44.0k | −$11.11 |
| NOI | $53.8k | $13.58 |
3,960 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$768.1K
$672.1K – $896.1K
NOI $53,766 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,625 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Ten-unit apartment complex with shared washer/dryer and two storage rooms at 516 E 40th Street.
Where is this apartment building located?
The property is located at 516 East 40th Street Austin, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10‑unit apartment complex at 516 E 40th Street; Year built: 1972; Shared washer/dryer and 2 storage rooms on‑site for additional income
