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Browse More Listings in Multifamily For Sale, Austin, TX or Texas

Multifamily Property For Sale

Villages III Apartments

6408 Burns Street, Austin, TX 78752

Price:
$1,500,000
No. Units:
30
Building Size:
22,392 SF
Price/Unit:
$50,000
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
No. Stories:
3
Year Built:
1983
Lot Size:
0.80 AC
Find Out More...

Last Verified 11/2/2009 Listing ID 15848590

Highlights

15 MINUTES NORTH OF THE UNIVERSITY OF TEXAS
PITCHED ROOF
BUILT IN 1983

4 OTHER ADJACENT PROPERTIES ARE ALSO AVAILABLE FOR SALE
THE 5 ADJACENT SEPARATE PROPERTIES TOTAL 184 UNITS
INDIVIDUAL ELECTRIC WATER HEATERS IN EACH UNIT

Description

The Villages III Apartments is a 30 unit apartment complex built in 1983 and is located in NC Austin. The 30 units are comprised of (1) EFFS. with sq. ft. around +/-450, (11) 1-1s with sq. ft. around +/-660, (9) 2-2s with sq. ft. around +/-788, (6) 2-2s with sq. ft. around +/-810 and (3) 2-2s with sq. ft. around +/-910. The property has a pitched roof, brick/wood exterior, swimming pool, and is individually metered for electricity. Water/waste water is passed through to the tenants. 4 OTHER ADJACENT PROPERTIES ARE ALSO AVAILABLE FOR SALE. THE 5 ADJACENT SEPARATE PROPERTIES TOTAL 184 UNITS.

The Villages III Apartments are located at 6408 Burns Street in NC Austin. THE PROPERTY IS LESS THAN 1 MILE FROM THE FUTURE SITE OF THE METRO RAIL RED LINE LIGHT RAIL STATION. It is 15 minutes north of the University of Texas and is conveniently located close to Loop 1 (Mopac) and U.S. Hwy 183.

Financial Summary

Unit Mix Information

Actual
Scheduled Gross Income
$237,060
Effective Gross Income
$241,207
Operating Expenses
$135,000
Net Operating Income
$106,207

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
EFF.	1	$475	450
One BedRoom / One Bath	11	$580	660
Two Bedroom / Two Bath	9	$700	788
Two Bedroom / Two Bath	6	$725	810
Two Bedroom / Two Bath	3	$750	910

Map of 6408 Burns Street, Austin, TX 78752 (Travis County)

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Presented by

The Jones & Jones Company

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Contact Listing Broker

Stephen Frankel (512) 288-8522

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Created 8/13/2008

Additional Information for 6408 Burns Street, Austin, TX 78752

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Villages III Apartments

6408 Burns Street, Austin, TX, 78752