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

Multifamily Property For Sale

702 Lamar Place

702 Lamar Place, Austin, TX 78752

Price:
$1,825,000
No. Units:
38
Building Size:
21,575 SF
Price/Unit:
$48,026.32
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
No. Stories:
3
Year Built:
1972
Lot Size:
0.80 AC

Last Verified 5/28/2009 Listing ID 15848711

Highlights

15 MINUTES NORTH OF THE UNIVERSITY OF TEXAS
4 OTHER ADJACENT PROPERTIES ARE ALSO AVAILABLE FOR SALE

THE 5 ADJACENT SEPARATE PROPERTIES TOTAL 184 UNITS

Description

The Villages IV Apartments is a 38 unit apartment complex built in 1972 and is located in NC Austin. The 38 units are comprised of (5) EFFS. with sq. ft. around +/-385, (15) 1-1s with sq. ft. around +/-500, (6) 1-1s with sq. ft. around +/-575 and (12) 2-1 sq. ft. around +/-725. The property has a flat roof, stucco/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 IV Apartments are located at 702 Lamar Place 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

Proforma
Scheduled Gross Income
$261,600
Effective Gross Income
$265,520
Operating Expenses
$155,000
Net Operating Income
$110,520

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
EFF.	5	$475	385
One Bedroom / One Bath	15	$525	500
One Bedroom / One Bath	6	$575	575
Two Bedroom / One Bath	12	$675	725
(Proforma Rents Used Above)	12	$675	725

Map of 702 Lamar Place, 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 702 Lamar Place, 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 IV Apartments

702 Lamar Place, Austin, TX, 78752