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Barton Springs Apartments 1725 Toomey Rd 40 Unit Apartment Building For Sale Austin, TX 78704
INVESTMENT HIGHLIGHTS
- Quietly tucked off of Barton Springs Rd and South Lamar Blvd, while maintaining extremely close proximity to the shops and restaurants.
- Fully operational apartment complex with in-place income.
- Steps from water's edge.
- High density multifamily zoning.
EXECUTIVE SUMMARY
Unicorn redevelopment opportunity, walking distance from Austin's Barton Springs Pool, steps (literally) from the Hike & Bike trail at the water's edge, and a short stroll to restaurants and shopping on Barton Springs Road and South Lamar Blvd.
The property has recently been rezoned to MF-6, allowing up to 90' of height, securing views of Lady Bird Lake, the Downtown Austin skyline, and the Hill Country. Preliminary planning indicates ~150,000 net rentable/saleable SF by-right, with potential for an additional 25k net. Existing 40 unit complex is fully operational, providing an opportunity for cover on the land acquisition before breaking ground.
The property has recently been rezoned to MF-6, allowing up to 90' of height, securing views of Lady Bird Lake, the Downtown Austin skyline, and the Hill Country. Preliminary planning indicates ~150,000 net rentable/saleable SF by-right, with potential for an additional 25k net. Existing 40 unit complex is fully operational, providing an opportunity for cover on the land acquisition before breaking ground.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.90 AC |
| No. Units | 40 | Building Size | 35,712 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1967 |
| Building Class | C | Parking Ratio | 1.74/1,000 SF |
| Zoning | MF-6 - 90' multifamily | ||
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 35,712 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | MF-6 - 90' multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Fireplace
- Microwave
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Furnished Units Available
- Volleyball Court
- Walking/Biking Trails
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 600 |
| 2+1 | 20 | - | 850 |
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 104372 | Improvements Assessment | $319,975 |
| Land Assessment | $6,871,025 | Total Assessment | $7,191,000 |
PROPERTY TAXES
Parcel Number
104372
Land Assessment
$6,871,025
Improvements Assessment
$319,975
Total Assessment
$7,191,000
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Barton Springs Apartments | 1725 Toomey Rd
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