1302 Parker Ln | Austin, TX 78741
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- LoopNet Team
1302 Parker Ln
Austin, TX 78741
Parker Heights & Flats · Multifamily Property For Sale
·
54 Units
INVESTMENT HIGHLIGHTS
- Exceptional Location – Less than 5 minutes to Downtown, South Congress, Travis Heights, East Austin, Rainey Street, ACC, and St. Edward’s University.
- Attractive Basis – Value-Add Opportunity priced accordingly. Competitive rents, well below the surrounding newer Class A Properties.
- Longterm Owner – Property has not changed hands in over 5 years creating possible creative tax structures.
- Average Home Price within 1 mile radius = $1.1M+ – Gentrifying area providing a more affordable option than home ownership and the surrounding areas.
- Desirable Unit Mix – Comprised of 24 Studios, 20 One-Bedroom and 10 Two-Bedroom Units catering to Austin’s younger and independent demographic.
- Future Optionality – Two adjacent parcels offering flexibility to sell separately, redevelop or potential candidate for condo conversion.
PROPERTY FACTS
| No. Units | 54 | Lot Size | 1.43 AC |
| Property Type | Multifamily | Building Size | 52,000 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1968 |
| Building Class | C | Parking Ratio | 1.25/1,000 SF |
| Zoning | ERC | ||
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.43 AC |
| Building Size | 52,000 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | ERC |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Ceiling Fans
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Walk-In Closets
- Carpet
- Pantry
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Pool
- Grill
- Gas Range
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 24 | - | 400 |
| 1+1 | 20 | - | 614 |
| 2+1 | 10 | - | 1,030 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,296,905 | |
| Land Assessment | $2,803,095 | Total Assessment | $6,100,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,803,095
Improvements Assessment
$3,296,905
Total Assessment
$6,100,000
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