1010 Meadows DrAustin, TX 78758

Property Details for 1010 Meadows Dr

Year built

1969

Property size (Sq ft)

8,766 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 1010 N Meadows Dr, Austin, TX 78758, in Travis County. Built in 1969, this single-story Class B property boasts a total of 8,766 square feet, with 3,173 square feet of net rentable space. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $34,511, representing a 3.75% capitalization rate. Pro forma projections indicate a potential NOI of $40,000 and a 4.35% cap rate, suggesting significant upside potential. Each of the four units is priced at $230,000, with the entire property listed at $920,000, or $104.95 per square foot. This stabilized, owner-user investment is ideal for both seasoned investors and those seeking a hands-on approach to real estate ownership. The property's strong performance and location in the thriving Austin market make it a compelling investment prospect. The property's current condition and high occupancy rate offer immediate cash flow, while the pro forma projections suggest room for growth and increased profitability. This is a rare opportunity to acquire a well-positioned multifamily asset in a highly desirable Texas market.

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.3768

Longitude

-97.695

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