1406 Summit St Austin, TX 78741
East Riverside-Oltorf NeighborhoodEstimated payment $5,859/month
Highlights
- Guest House
- Mature Trees
- Main Floor Primary Bedroom
- Downtown View
- Wood Flooring
- Furnished
About This Home
Prime Investment Opportunity Minutes from Downtown Austin! Main house leased for 1 year starting July 1st.
Located just minutes from downtown Austin, this multi-unit income property offers outstanding rental revenue and future development potential. 3 successful units and a 3-year proven income history, this property is a must-see for investors or buyers looking to offset mortgage costs!
Key Features:
-Total Property Size: 11,325 sq ft lot with 2,292 sq ft of living space and a view of downtown Austin. Walking distance to Lady Bird Lake and many restaurants.
-Main House (1,522 sq ft): A charming 4-bed, 2-bath home featuring a cozy dining room, covered porch, and plenty of natural light. Perfect for comfortable living.
-ADU #1 (385 sq ft): A stylish first-floor studio with its own entrance and a vibrant Austin-inspired mural. Ideal for guests or additional rental income.
-ADU #2 (385 sq ft): A second-floor studio with a unique Willie Nelson mural, offering both charm and functionality. Great for short-term rentals or a private retreat.
-High Income Potential: All three units are currently rentals with top ratings (4.8+), providing a steady stream of income. With 3 years of proven revenue, this is an opportunity you can’t pass up!
-Zoning & Future Potential: Zoned SF3/MF4, allowing for multi-family development with options to expand or build additional units—offering long-term growth potential. Feasibility study has been completed and can be shared with interested buyers.
Whether you're looking for a high-performing rental property or a site for future multi-family development, this location offers both immediate returns and long-term potential. Don’t miss this rare opportunity – schedule a tour today!
Listing Agent
JBGoodwin REALTORS WL Brokerage Phone: (512) 502-7601 License #0820605 Listed on: 05/31/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,561
Year Built
- Built in 1938
Lot Details
- 0.26 Acre Lot
- East Facing Home
- Private Entrance
- Wrought Iron Fence
- Wood Fence
- Mature Trees
- Wooded Lot
- Back Yard Fenced and Front Yard
Home Design
- Triplex
- Pillar, Post or Pier Foundation
- Slab Foundation
- Shingle Roof
- Wood Siding
- Masonry Siding
Interior Spaces
- 2,292 Sq Ft Home
- 2-Story Property
- Furnished
- Living Room
- Dining Room
- Storage
- Washer and Dryer
- Downtown Views
- Prewired Security
Kitchen
- Eat-In Kitchen
- Free-Standing Gas Range
- Dishwasher
Flooring
- Wood
- Tile
Bedrooms and Bathrooms
- 6 Bedrooms
- Primary Bedroom on Main
- 4 Full Bathrooms
Parking
- 3 Parking Spaces
- Off-Street Parking
Outdoor Features
- Covered Patio or Porch
- Shed
- Rain Gutters
Additional Homes
- Guest House
Schools
- Travis Hts Elementary School
- Lively Middle School
- Travis High School
Utilities
- Central Heating and Cooling System
- Natural Gas Connected
- High Speed Internet
- Phone Available
Listing and Financial Details
- Assessor Parcel Number 1406 Summit St
Community Details
Overview
- No Home Owners Association
- Elmhurst Subdivision
Pet Policy
- Pets allowed on a case-by-case basis
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $10,819 | $720,240 | $327,469 | $392,771 |
| 2023 | $10,819 | $860,510 | $472,500 | $388,010 |
| 2022 | $16,688 | $845,000 | $472,500 | $372,500 |
| 2021 | $12,240 | $562,309 | $262,500 | $299,809 |
| 2020 | $9,210 | $429,400 | $262,500 | $166,900 |
| 2018 | $8,146 | $367,954 | $262,500 | $105,454 |
| 2017 | $9,450 | $423,740 | $262,500 | $161,240 |
| 2016 | $9,857 | $442,000 | $157,500 | $284,500 |
| 2015 | $6,562 | $333,280 | $150,000 | $183,280 |
| 2014 | $6,562 | $275,735 | $150,000 | $125,735 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/02/2025 09/02/25 | For Sale | $950,000 | 0.0% | $414 / Sq Ft |
| 08/07/2025 08/07/25 | Off Market | -- | -- | -- |
| 05/31/2025 05/31/25 | For Sale | $950,000 | +8.0% | $414 / Sq Ft |
| 12/10/2021 12/10/21 | Sold | -- | -- | -- |
| 10/27/2021 10/27/21 | Pending | -- | -- | -- |
| 10/12/2021 10/12/21 | Price Changed | $880,000 | -3.8% | $461 / Sq Ft |
| 09/12/2021 09/12/21 | For Sale | $915,000 | -- | $480 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Vendors Lien | -- | Independence Title | |
| Vendors Lien | -- | Chicago Title Insurance Co | |
| Vendors Lien | -- | First American Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $131,600 | New Conventional | |
| Open | $212,250 | New Conventional | |
| Open | $548,250 | New Conventional | |
| Previous Owner | $400,000 | New Conventional | |
| Previous Owner | $315,000 | New Conventional | |
| Previous Owner | $216,690 | New Conventional | |
| Previous Owner | $220,500 | New Conventional | |
| Previous Owner | $136,000 | Purchase Money Mortgage |
Source: Unlock MLS (Austin Board of REALTORS®)
MLS Number: 3354867
APN: 284932
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