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    2511 San Gabriel St Austin, TX 78705

    Sponsored
    For Sale
    $2,195,000

    Turnkey, high-cashflow student housing.

    Property size:
    3,124 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional, fully renovated single-family home (3,124 sq ft) in Austin's coveted West Campus neighborhood presents a rare investment opportunity. Located just blocks from the University of Texas campus and less than a mile from downtown, this property boasts a prime location with exceptionally high demand. Completely remodeled in 2023, the property features updated HVAC, plumbing, electrical systems, and appliances. The 9-bedroom, 1-story home is currently 100% occupied, with pre-leased agreements in place through July 31st, 2026, generating a substantial monthly income of $13,800 (increasing to $15,000 in August 2025 and projected to reach $16,000 in August 2026). The property sits on a 6,912 sq ft lot and includes 4 parking spaces. With a current NOI of $136,500 and a pro-forma NOI of $154,000, this investment offers a compelling 6.22% cap rate (7.02% pro-forma). The property is zoned MF-4-NP, presenting significant redevelopment potential within the UNO overlay district. This turnkey investment offers strong cash flow, low expenses (approximately 20% expense ratio), and significant potential for both rental income growth and future appreciation. The long-term leases minimize management needs and commissions, further enhancing the property's profitability. This is a truly exceptional opportunity to acquire a high-performing asset in a rapidly appreciating market. Asking price: $2,195,000.

    Property Features for 2511 San Gabriel St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,124 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1937/2023
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Tony Lazarov
    Tony Lazarov

    Learn more

    Property Insight Report

    HighLights

    • $200,000 price reduction; 6.22% cap rate (7.02% pro‑forma).
    • Exceptional, fully renovated 3,124 sq ft single‑family home in Austin's West Campus, blocks from UT and under a mile from downtown.
    • 2023 remodel includes updated HVAC, plumbing, electrical, and appliances.
    • Nine‑bedroom, one‑story home, 100% occupied with pre‑leases through July 31, 2026; $13,800/month rent (increasing to $15,000 in August 2025, and $16,000 in August 2026).
    • 6,912 sq ft lot with four parking spaces; $136,500 current NOI, $154,000 pro‑forma NOI.
    • MF‑4‑NP zoning in the UNO overlay district offers redevelopment potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Austin
    County
    Travis
    State
    Texas
    Longitude
    -97.747606065912
    Latitude
    30.290456066492

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    FAQs

    What type of property is this?
    Multifamily property - Turnkey, high-cashflow student housing.
    Where is this multifamily property located?
    The property is located at 2511 San Gabriel St Austin, TX.
    What is the asking price?
    The asking price for this property is $2,195,000.
    What are key features of this property?
    This property features: $200,000 price reduction; 6.22% cap rate (7.02% pro-forma).; Exceptional, fully renovated 3,124 sq ft single-family home in Austin's West Campus, blocks from UT and under a mile from downtown.; 2023 remodel includes updated HVAC, plumbing, electrical, and appliances.
    Request Owner's contact information
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    Austin, TX 78705
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2511 San Gabriel St Austin, TX 78705
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    We can help!
    Listing Contact
    Tony Lazarov
    Tony Lazarov
    Real Estate License ID: TX 9005423
    Learn more
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