1010 Meadows Dr Austin, TX 78758
- Apartment buildings
- 8,766 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1010 Meadows Dr
- Year built
- 1969
- Property size
- 8,766 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 1010 N Meadows Dr, Austin, TX 78758, in Travis County. Built in 1969, this single-story Class B property boasts a total of 8,766 square feet, with 3,173 square feet of net rentable space. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $34,511, representing a 3.75% capitalization rate. Pro forma projections indicate a potential NOI of $40,000 and a 4.35% cap rate, suggesting significant upside potential. Each of the four units is priced at $230,000, with the entire property listed at $920,000, or $104.95 per square foot. This stabilized, owner-user investment is ideal for both seasoned investors and those seeking a hands-on approach to real estate ownership. The property's strong performance and location in the thriving Austin market make it a compelling investment prospect. The property's current condition and high occupancy rate offer immediate cash flow, while the pro forma projections suggest room for growth and increased profitability. This is a rare opportunity to acquire a well-positioned multifamily asset in a highly desirable Texas market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Austin
- County
- Travis
- State
- Texas
- Longitude
- -97.695
- Latitude
- 30.3768
