303 Hill St Burnet, TX 78611
- Commercial real estate
- 1.06 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 303 Hill St
- Year built
- 1983
- Lot size
- 1.06 lot acres
- Property type
- Commercial real estate
Description
This 12,550-square-foot apartment building, located at 303 S Hill St, Burnet, TX 78611, presents a compelling value-add investment opportunity. The property, built in 1983, consists of a single, one-story building on a 1.06-acre lot and features 15 units with 100% occupancy. Currently zoned R-3 MF Residential, the property offers significant potential for increased profitability through various upgrades. These include modernizing interiors and appliances, enhancing common areas, and improving the exterior for increased curb appeal. The current owner covers water, sewer, and trash expenses for tenants, presenting an opportunity to implement a fee system or bill back to tenants, further boosting revenue. The Burnet, TX location, situated 50 miles northwest of Austin, benefits from a strong rental market with limited competing supply. Within a 10-mile radius, only 51 market-rate and 206 affordable rental units exist, serving a population exceeding 16,000. This lack of new construction ensures organic rent growth potential as the Austin metropolitan area continues to expand. Burnet itself offers a desirable lifestyle with access to outdoor recreation, excellent schools, a hospital, and a thriving community. The property's strategic location at the intersection of major highways (State Highway 29 and U.S. Highway 281) ensures high visibility and accessibility.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burnet
- County
- Burnet
- State
- Texas
- Longitude
- -98.2174216
- Latitude
- 30.7582385
