Description
Estimating a 7%+ cap rate and over $100,000 annual rents on this 5 unit property less than a decade old. The quadraplex built in 2014 has four 3/2 units, each 1,200 sq ft, with additional space between the two downstairs units. It also has a FIFTH unit " a 2020 4/2 manufactured home with roughly 2,000 sq ft. (The manufactured home can stay or go, per buyer preference.) Currently multi-generational living, with some painting and polishing this could be an exceptional rental property. Plus, while sitting on over 6 acres, there is plenty of room for more development. Property next door, with an additional 6.3 acres and a house (needs work), is also for sale - MLS 7849352. 12 minutes from Bastrop, 18 from Elgin, 37 minutes to Austin, and 26 minutes to the airport, this is an excellent central location for all the development happening east of Austin. PARTIAL 500 year floodplain - only along the mid to rear southeast property line per flood maps in MLS, well away from the buildings and plenty of room left to develop more units.
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0BEDS
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6.23ACRES
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0BATHS
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01/2 BATHS
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7,600SQFT
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$145$/SQFT
School Information
Description
Estimating a 7%+ cap rate and over $100,000 annual rents on this 5 unit property less than a decade old. The quadraplex built in 2014 has four 3/2 units, each 1,200 sq ft, with additional space between the two downstairs units. It also has a FIFTH unit " a 2020 4/2 manufactured home with roughly 2,000 sq ft. (The manufactured home can stay or go, per buyer preference.) Currently multi-generational living, with some painting and polishing this could be an exceptional rental property. Plus, while sitting on over 6 acres, there is plenty of room for more development. Property next door, with an additional 6.3 acres and a house (needs work), is also for sale - MLS 7849352. 12 minutes from Bastrop, 18 from Elgin, 37 minutes to Austin, and 26 minutes to the airport, this is an excellent central location for all the development happening east of Austin. PARTIAL 500 year floodplain - only along the mid to rear southeast property line per flood maps in MLS, well away from the buildings and plenty of room left to develop more units.
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