Under Contract

4127 E 12th ST

Austin TX, 78721

$5,400,000


$3,739.61 per sqft

Under Contract

1,444 sqft

Commercial

Built in 2023

Introducing an exciting investment opportunity in the up-and-coming East Austin area!
Springdale Commons is the latest development from Austin's premier green builder, Fortunate Foundations. Consisting of eight
units, this unique complex is perfectly positioned to capitalize on the area's growth and potential. Expected completion date August
2023.
Located in the heart of East Austin, this development offers a prime location that is attracting attention from investors and residents
alike. With its vibrant arts scene, trendy restaurants, and proximity to downtown, East Austin is quickly becoming one of the most
sought-after neighborhoods in the city.
The complex itself boasts 8 energy-efficient units across 3 buildings enveloped in continuous thermal and noise-insulating foam.
These modern, eco-friendly features not only provide residents with a comfortable and tranquil living experience but also contribute
to reduced energy costs and a smaller carbon footprint.
One of the unique advantages of this property is its commercial zoning, allowing for the allocation of two units specifically
designated for short-term rentals (STRs). With the increasing popularity of Austin as a tourist destination, STRs present an excellent
opportunity to maximize your investment returns. Buyer to verify.
As you evaluate the financials, rest assured that this property offers a competitive Cap Rate of 4.6% and an impressive ProForma Cap
Rate of 5.8%. Perform a thorough analysis of the projected rental income from long-term leases, as well as the potential income
from the designated STR units.
Don't miss your chance to be part of the East Austin growth story. This multi-family complex presents an ideal blend of location,
energy efficiency, and investment potential. Contact us today to secure your place in this thriving community and start reaping the
benefits of this exceptional opportunity.

9392592

MLS ID

July 12, 2023

Listed

March 1, 2024

Updated

Map

4127 E 12th ST
Austin TX, 78721

Interior Features

Floor Description

Carpet, Tile, Wood


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.57 Acres


Sewer

Public Sewer

Other Property Details

Area Name

5


Taxes

$56,029


Tax Frequency

Annually


Garage

No


Parking

Covered, Open


View

No


County

Travis


Water Source

Public


Pool

No


Buyer Agency Compensation

1.5%

Listing History

Date

Event

Price

3/1/2024

Under Contract

9/25/2023

Price Change

$5,400,000

-3%

8/31/2023

Price Change

$5,550,000

-6%

Courtesy of Keller Williams Realty

Listing Contact: (512) 439-8797

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Grimes Group Austin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Database last updated 10:16 PM UTC, 3/1/2024

 

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