Barton Springs Apartments 1725 Toomey Rd 40 Unit Apartment Building $19,000,000 ($475,000/Unit) Austin, TX 78704
INVESTMENT HIGHLIGHTS
- Steps from Hike and Bike Trail
- 170k SF redevelopment potential
- 90' Zoning in-place
EXECUTIVE SUMMARY
Prime located asset with 90' vertical potential.
Sitting at the corner of Sterzing St and Toomey Rd, this unicorn site is steps from the Butler Shores Hike and Bike Trail, Barton Springs Rd Restaurants, and Zilker Park. Built in 1967, the property remains fully operational, providing an opportunity to add value and increase rents in the near term, or tear down for a ~170k SF Class A apartment/condo development on one of the most sought after corners in Austin, TX
Sitting at the corner of Sterzing St and Toomey Rd, this unicorn site is steps from the Butler Shores Hike and Bike Trail, Barton Springs Rd Restaurants, and Zilker Park. Built in 1967, the property remains fully operational, providing an opportunity to add value and increase rents in the near term, or tear down for a ~170k SF Class A apartment/condo development on one of the most sought after corners in Austin, TX
PROPERTY FACTS
| Price | $19,000,000 |
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 35,712 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 1.74/1,000 SF |
| Zoning | MF-6 - 90' multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Fireplace
- Microwave
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Furnished Units Available
- Volleyball Court
- Walking/Biking Trails
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 600 |
| 2+1 | 20 | - | 850 |
Walk Score®
Very Walkable (71)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 104372 | Improvements Assessment | $319,975 |
| Land Assessment | $6,871,025 | Total Assessment | $7,191,000 |
