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Southway Flats 78704 3802 Southway Dr 4 Unit Apartment Building $1,450,000 ($362,500/Unit) 6.22% Cap Rate Austin, TX 78704
Investment Highlights
- Exceptional opportunity in Austin's most coveted zip code -- 78704
- 4 townhome-style units, each 2 BD / 1.5 BA with in-unit stackable W/D and private fenced yard
- Fully leased 4-unit townhome portfolio generating $120,480 in gross annual income
- Unmatched demand drivers -- South Congress, Bouldin Creek, and Lady Bird Lake all within minutes
Executive Summary
Exceptional investment opportunity in Austin's most coveted zip code. This fully leased 4-unit townhome portfolio generates $119,460 in gross annual income at a 4.94% cap rate. 78704 offers unmatched demand drivers — South Congress, Bouldin Creek, and Lady Bird Lake are all within minutes. Low vacancy risk with strong rent growth fundamentals.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,450,000 | Property Subtype | Apartment |
| Price Per Unit | $362,500 | Apartment Style | Townhome |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.22% | Building Size | 5,536 SF |
| Gross Rent Multiplier | 12.03 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2024 |
| Price | $1,450,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 12.03 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Building Size | 5,536 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2024 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Walk-In Closets
- Yard
- Breakfast Nook
- Pantry
- Patio
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 4 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 310047 | Total Assessment | $823,109 |
| Land Assessment | $396,574 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $426,535 | Tax Year | 2025 |
Property Taxes
Parcel Number
310047
Land Assessment
$396,574
Improvements Assessment
$426,535
Total Assessment
$823,109
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
Southway Flats 78704 | 3802 Southway Dr