NOT LISTED FOR SALE
-- Bed
-- Bath
24,063 Sq Ft
0.44 Acres

Last Sold April 17, 2023

288 Days on Market

Highlights

  • Panoramic View
  • Wood Flooring
  • 22 Car Garage
  • Bryker Woods Elementary School Rated A
  • Multiple cooling system units

About This Home

As of April 2023

Gold Tier Real Estate is proud to present a value-add multifamily asset with close proximity to the University of Texas at Austin and Downtown Austin. With a total of 23 beds, 22 baths, and 16 garage spaces, this property is unique in nature and possesses unlimited potential for an investor.

The 0.44 acre property sits on the hard corner of San Gabriel and W Martin Luther King Jr Blvd. The current zoning is GO-CO-NP and has a CodeNEXT proposed zoning as MU2-Q, which suggests a mixed-use redevelopment opportunity with a height limit of 65 feet*.

*Buyer to do independent research regarding the redevelopment potential of the property.

Property Highlights
Value Add Multifamily w/ Long Term Redevelopment Potential
11 Unique, Large Townhome Units
0.44 Acres on Hard Corner of San Gabriel and MLK
Close Proximity to The University of Texas at Austin and Downtown Austin
24,063 GSF - 18,528 RSF

Last Agent to Sell the Property

Colin Tierney

Gold Tier Real Estate, LLC License #0703959 Listed on: 06/01/2022

Last Buyer's Agent

Non Member

Non Member License #785011

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $68,104

Year Built

  • Built in 1984

Lot Details

  • 0.44 Acre Lot
  • The community has rules related to zoning restrictions

Property Views

  • Panoramic
  • Downtown

Home Design

  • Concrete Siding
  • Stucco

Interior Spaces

  • 24,063 Sq Ft Home
  • Wood Flooring

Parking

  • 22 Car Garage
  • Alley Access
  • Lighted Parking
  • Garage Door Opener
  • Driveway
  • Additional Parking
  • Parking Lot

Eco-Friendly Details

  • Sustainability products and practices used to construct the property include see remarks

Utilities

  • Multiple cooling system units
  • Central Air

Listing and Financial Details

  • Legal Lot and Block 11 / 1
  • Assessor Parcel Number 01130013150000
  • 2% Total Tax Rate

Community Details

Overview

  • 11 Buildings
  • Carrington Subdivision

Building Details

  • Operating Expense $181,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$68,104

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Sub Type: Multi Family
  • Building Area Total: 24063.00
  • Restrictions: Zoning
  • Year Built: 1984
  • Acquisition Inclusion: Building & Land, Land & Improvements
  • Additional Parcels: No
  • Anchors Co-Tenants: None.
  • Current Use: Commercial, Multi-Family
  • Directions: Corner of San Gabriel and Martin Luther King Jr.
  • Disclosures: None
  • Estimated Taxes: 110816.00
  • ETJ Extra Territorial Jurdn: No
  • Existing Lease Type: See Remarks
  • FEMA Flood Plain: No
  • Green Energy Efficient: See Remarks
  • Green Sustainability: See Remarks
  • Intermediary: No
  • Leasable Area: 18528
  • Other Equipment: None
  • Other Structures: See Remarks
  • Special Listing Conditions: Standard
  • Special Features: None

Interior Features

  • View: City, City Lights, Downtown, Panoramic, Skyline
  • Flooring: Wood
  • Accessibility Features: See Remarks
  • Property Condition: Resale
  • Security Features: See Remarks

Exterior Features

  • Waterfront: No

Garage/Parking

  • Parking Features: Additional Parking, Alley Access, Asphalt, Garage, Garage Door Opener, Lighted, Parking Lot
  • Parking Ratio: 1090.00
  • Total Parking Spaces: 22.00

Utilities

  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Sewer Connected, Water Connected, See Remarks
  • Heating: See Remarks
  • Water Source: Public
  • Cooling: Central Air, Multi Units

Lot Info

  • Topography: Level.
  • Parcel Number: 01130013150000
  • Lot Size Acres: 0.4410
  • Lot Size Sq Ft: 19209.96
  • Subdivision Name: Carrington
  • Zoning Description: 0.44 acres. The current zoning is GO-CO-NP and has a CodeNEXT proposed zoning as MU2-Q, which suggests a mixed-use redevelopment opportunity with a height limit of 65 feet*.

Building Info

  • Building Features: See Remarks
  • Construction Materials: Concrete, Stucco
  • New Construction: No
  • Number Of Buildings: 11

Multi Family

  • Gross Scheduled Income: 511000.00
  • Operating Expense: 181000.00

Tax Info

  • Tax Block: 1
  • Tax Lot: 11
  • Tax Rate: 2.17668000000000
  • Tax Year: 2021
  • Tax Annual Amount: 68104.00

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/17/2023 04/17/23 Sold -- -- --
03/16/2023 03/16/23 Pending -- -- --
08/24/2022 08/24/22 Price Changed $5,900,000 -10.6% $245 / Sq Ft
06/01/2022 06/01/22 For Sale $6,600,000 -- $274 / Sq Ft
Source: Unlock MLS (Austin Board of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Unlock MLS (Austin Board of REALTORS®)

MLS Number: 3689159

Unlock MLS (Austin Board of REALTORS®)