Four-plex – $359,000 – Unit Mix 1/1.5 & 2/1.5 – 4,048 sq ft – 2305 Mission Hill
*****Note: A similar four-plex in area recently sold for $369,900 or $102.41 per sq ft (3,612 sq ft). This property is being offered at $88.93 per sq ft. *****
This is a great opportunity to invest in a centrally-located Austin property with a great CAP rate. One-bedroom units are easily rented for $800 and two-bedrooms are currently at $900 (one unit set to increase to $950 on 2/1/15).
Unit 104 is vacant for showings and updated with new carpet & paint.
Other updates include:
– new low-flow toilets in all units
– bathtub refinished in 1 unit
– new sub-floor & vinyl in 2 units
– new countertops & backsplash in 2 units
– new water heaters in 2 units
– electrical outlets upgraded with COHLAR in 3 units
– new electrical panel for 1 unit
The roof is metal and pitched, not flat like many other fourplexes in the neighborhood.
Each unit has a fenced-in yard with a storage unit & washer/dryer hook-ups.
Lot could be fenced in for a private common area.