2511 San Gabriel St Austin, TX 78705

Property Details for 2511 San Gabriel St

Year built

1937

Property size

3,124 SF

Property type

Residential income homes

Property subtype

Dormitories

Description

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.