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Palm Gardens Apartments 4314 Gillis St 24 Unit Apartment Building $2,495,000 ($103,958/Unit) 5.50% Cap Rate Austin, TX 78745
INVESTMENT HIGHLIGHTS
- Value Add
- Great Walkability
- 10 minutes from downtown ATX.
- Highly Desirable Area
- Leasing new units monthly
EXECUTIVE SUMMARY
This investment presents a rare opportunity to acquire a 24-unit multifamily community in the highly sought-after 78745 submarket of South Austin.
The property delivers immediate in-place income with clear avenues to further drive revenue through operational improvements and strategic repositioning.
An assumable loan option provides incoming ownership with financial flexibility and favorable debt terms, lowering the barrier to entry and enhancing returns.
Located in one of Austin’s fastest-growing corridors, 78745 benefits from strong population growth, robust new development, and a thriving mix of residential, retail, and entertainment uses—making it a proven destination for both renters and investors.
The property delivers immediate in-place income with clear avenues to further drive revenue through operational improvements and strategic repositioning.
An assumable loan option provides incoming ownership with financial flexibility and favorable debt terms, lowering the barrier to entry and enhancing returns.
Located in one of Austin’s fastest-growing corridors, 78745 benefits from strong population growth, robust new development, and a thriving mix of residential, retail, and entertainment uses—making it a proven destination for both renters and investors.
PROPERTY FACTS
| Price | $2,495,000 | Apartment Style | Garden |
| Price Per Unit | $103,958 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 5.50% | Building Size | 12,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 85% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2025 |
| Property Subtype | Apartment | ||
| Zoning | GR, Austin - GR, Austin | ||
| Price | $2,495,000 |
| Price Per Unit | $103,958 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Sale Condition | 1031 Exchange |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2025 |
| Zoning | GR, Austin - GR, Austin |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Grill
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 500 |
1 1
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 312799 | Improvements Assessment | $2,433,390 |
| Land Assessment | $566,610 | Total Assessment | $3,000,000 |
PROPERTY TAXES
Parcel Number
312799
Land Assessment
$566,610
Improvements Assessment
$2,433,390
Total Assessment
$3,000,000
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Palm Gardens Apartments | 4314 Gillis St
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