2201 W William Cannon Dr
Austin, TX 78745
Southland Apartments · Multifamily Property For Sale · 72 Units

Southland Apartments, a 72-unit multifamily asset, consists of 10 studio, 54 one-bedroom, and 8 two-bedroom floor plans. The current owner has maintained the property exceptionally, and begun renovating units as they become available. Interior improvements include new cabinets, counter tops, tile bathrooms, new fixtures, vinyl plank flooring, and stainless steel appliances. Rents range from 5 - 14% under market depending on floor plan and finish out, allowing a new owner to capture significant rent growth. Utilities are only being charged back at 41%, allowing a new owner to increase the RUBs system to the market average of 75%, adding $19,391 to the Net Operating Income. The laundry room was completely renovated this year and tenants we' re not charged for every use. Card readers we' re installed in November, and as of November 15th, 50 percent of the units have enrolled creating $650 in recurring laundry income monthly. Google Fiber has recently been fully installed. Do Not Contact the Management staff for information about the sale. All tours and site visits are to be scheduled with the Listing Broker. Please contact me for more details. Located in South Austin, Travis County, Texas, this infill complex was constructed in 1979 near the intersection William Cannon Drive and Manchaca Road. Situated 2 miles from both Loop 1 "MoPac" and Interstate 35, Austin's two largest thoroughfares, this favorable location gives residents access to major employment hubs, ample shopping and entertainment options, including walking distance to Sprouts Farmers Market and CVS.