TX > Austin > Oaklawn Add
Austin, TX 78751,516 E 40th ST
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Austin, TX 78751,516 E 40th ST
Austin, TX 78751,516 E 40th ST
Austin, TX 78751,516 E 40th ST
Austin, TX 78751,516 E 40th ST
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Andrew Corder

Andrew Corder

+1(830) 452-1300
$ 1,800,000
Est. payment /mo
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Price Dropped by $150K

516 E 40th ST Austin, TX 78751

3,960 SqFt

UPDATED:

11/22/2024 04:13 PM

Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,960 sqft

Price per Sqft $454

Subdivision Oaklawn Add

MLS Listing ID 2871159

Originating Board actris

Year Built 1972

Tax Year 2023

Lot Size 7,143 Sqft

Property Description

For Sale: "40 Hyde Park", a consistent money maker, 10 unit apt complex on 40th St, literally located a chip shot away from the 8th green at Hancock Golf Course. Professionally managed with 6 units as long term rentals and units 101,201,203,204 leased as licensed Short Terms Rentals (Air Bnb with excellent reviews!).units 101,201,204,205 have City of Austin STR licenses in place, a 2023 income statement is attached for these 4 Short Term Rental units, as well as a rent roll and 2023 income statement for the other 6 units that are under longterm (none longer than 1 year) leases.All units have separate electric meters. Many updates throughout the various units including several recent appliance replacements. Bldg has a common area washer/dryer lease in place that provides additional income (tenants pay by card or app and vendor collects/disburses to building owner quarterly). NOTE: 204 and 205 just leased on one year leases and 101 and 201 currently available for year long leases, Jan 1 availability.

Location

State TX

County Travis

Interior

Heating Central

Cooling Central Air

Flooring Laminate

Fireplace N

Exterior

Utilities Available Above Ground, Cable Connected, Electricity Connected, High Speed Internet, Natural Gas Connected

View None

Accessibility None

Total Parking Spaces 10

Building

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Structure Type Masonry – All Sides

New Construction No

Others

Restrictions City Restrictions

Acceptable Financing Cash, Conventional, 1031 Exchange

Tax Rate 1.98

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition See Remarks

Listed by Austin Home Source

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Andrew Corder

Agent | License ID: 0746652

+1(830) 452-1300

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516 E 40th ST