Devora Realty, a leading boutique commercial real estate agency in Austin, has recently announced an exceptional investment opportunity with the listing of a prime 61-unit multi-family condominium in the desirable South Austin market. This offering presents an attractive option for investors looking to add a profitable asset to their commercial real estate portfolios. With an impressive occupancy rate of 96.7% and a net operating income (NOI) of $468,214, this property promises both stability and growth potential.
The multi-family property comprises 61 studio condominiums, each featuring a generous mix of 420 square-foot studios. Built in 1974, this well-maintained complex spans six two-story buildings, boasting a total net square footage of approximately 25,620. Set on a 1.157-acre lot, the property is under MF-3 zoning, allowing for various residential uses, a strong advantage for future investment potential.
Investors and real estate professionals recognize that having a high occupancy rate is a crucial indicator of a property's performance in the competitive commercial brokerage market. With a stellar 96.7% occupancy and consistent income generation, this listing stands out as both a reliable investment and an opportunity for future appreciation in one of Austin's most vibrant neighborhoods.
The well-thought-out design of the property includes features that contribute to the overall quality of life for residents. Amenities such as a gated pedestrian entry and a refreshing swimming pool provide added appeal, enhancing both the living experience for tenants and the marketability for potential buyers. The presence of two laundry rooms throughout the complex also supports the convenience and accessibility that tenants value.
Parking and accessibility are always key components when considering a multifamily investment. This property offers a total of 70 parking spaces, of which 18 are covered, ensuring that residents have adequate and secure options for their vehicles. Such amenities not only enhance the attractiveness of the property but also contribute to maintaining high occupancy and tenant satisfaction.
As the city of Austin continues to experience significant growth, opportunities like this one in South Austin become increasingly sought after. This particular listing reflects the broader trends in commercial real estate where unique, well-maintained properties in high-demand areas yield high returns. Investors who recognize the value of such an offering are likely to benefit from strong cash flow and an increasing asset value over time.
The commercial brokerage landscape in Austin is competitive, and having a reputable agency like Devora Realty leading the way ensures that investors are well-informed and well-positioned to make impactful decisions. Devora Realty's extensive market knowledge and commitment to customer service empower investors to confidently explore opportunities within the vibrant South Austin area.
The multi-family market in South Austin is especially notable for its appeal to renters, from young professionals to families seeking quality living spaces. The increasing demand for rental properties ensures that listings like this condominium offering remain at the forefront of commercial real estate investments. As people move to Austin for its dynamic job market and lifestyle options, the demand for housing, particularly affordable options like studio condos, continues to rise, making this an opportune time to invest.
Given the historic growth patterns and strong rental market dynamics in Austin, the 61-unit condominium listing serves as an attractive option for those seeking to enter or expand within the commercial real estate sector. The property is poised for long-term success, making it a compelling choice for investors looking for solid returns and stability.
Moreover, potential investors should note that this offering is competitively priced in relation to the market and offers a pro forma NOI of $468,214, providing a clear picture of the income-producing capabilities of the property. This metric plays a crucial role in evaluating the overall investment opportunity and aligns well with current market conditions.
In summary, Devora Realty presents a remarkable chance for savvy investors to acquire a high-performing multi-family condominium in the thriving South Austin market. With established occupancy rates, impressive income potential, and a suite of amenities to enhance tenant satisfaction, this property is positioned as a premier investment opportunity in the commercial real estate market.
As the landscape of commercial brokerage evolves in Austin, properties like this 61-unit offering highlight the importance of partnering with knowledgeable and reputable agencies when navigating investment opportunities. Devora Realty continues to demonstrate its commitment to excellence in service and market insight, helping clients not only identify prime investment properties but also realize their full potential within the competitive commercial real estate sector.
The South Austin 61-unit multi-family condominium listing serves as a testament to the flourishing real estate market within the area and reflects the upward trend of demand for affordable living spaces. With a blend of strong financial performance and desirable location, this investment opportunity is not only timely but also essential for those looking to enhance their commercial property portfolios in a city that boasts a vibrant culture and growing economy.
Investors and stakeholders are encouraged to consider the long-term implications of this listing as they evaluate their options within the commercial real estate market. The opportunity to invest in a well-occupied, well-maintained property in such a sought-after location is rare, making this a significant moment for those looking to establish or grow their presence in the South Austin real estate market.
Learn more on - https://www.crexi.com/properties/1724688/texas-the-element-studios
Devora Realty
512-961-9084
devorarealty.com
Austin, Texas
