700 N. Medina
Lockhart, TX 78644 ·
26 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||26||No. Stories||2|
|Building Size||18,360 SF||Year Built||1975|
|Property Type||Multifamily||Lot Size||1.03 AC|
|Listing ID: 14713956||Date Created: 07/20/2006||Last Updated: 10/02/2006|
JF Estates is located in Lockhart (Austin MSA), Texas, a town of 14,000 people just 30 miles south of Austin, the Capital of Texas. The property, just a couple blocks from historic downtown Lockhart, sits among a quiet
neighborhood filled with historic homes, churches, schools, and parks. The property has been flawlessly
maintained and has recently been restored with new vinyl siding. Currently, the local owner operates the
property with below market rents. The one bedroom units average $359 rents and the two bedroom units average $382 rents while the market rents for one and two bedroom units are $450 and $550, respectively.
The property is comprised of 567 square foot, one bedroom-one bath units (8) and 768 square foot, two
bedroom-one bath units (18) for a total of 26 units built on over an acre of land. The individually metered units contain nice patio and balcony areas, carpet, and central air condition and heating. The common area amenities include ample parking and a community laundry facility. Overall, JF Estates offers its residents a quiet setting on peaceful grounds while offering an investor a well maintained property with immediate upside in revenues.
Commonly known as the "Bar-B-Que Capital of Texas", Lockhart is a city of 14,000 citizens and is considered part of the Austin MSA. It is conveniently located just 30 miles from Austin and only 60 miles from San Antonio. Traditionally, the city's economy has been based on agriculture, ranching, and oil production, but recently has incorporated other industries as well. The development of transportation infrastructure has increased Lockhart's appeal as a bedroom community to Austin, which is accessible via fourlane US Highway 183. Lockhart is located on the eastern edge of the fast growing central Texas
Austin-San Antonio corridor and in the path of the Texas 130 by-pass, designed to be an alternative
route to Interstate 35 from San Antonio to north of Austin. The city has a very detailed growth plan,
with Census estimates of three percent population growth annually.
- Below Market Rents
- Superb Location Near Historic Downtown Lockhart
- Very Clean Asset
- Easy Commute to Austin Employers
- Quiet Neighborhood Setting
- Convenient Location to Austin & San Antonio
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