2606 Salado StAustin, TX 78705

Property Details for 2606 Salado St

Year built

2000

Construction

WOOD FRAME

Lot size

0.25 AC

Property size (Sq ft)

7,289 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

215020103

APU

215020103

Description

This exceptional 7,289 square foot property, situated on a 0.25-acre lot in Austin's coveted UNO overlay district of West Campus, presents a rare chance for high-density development. Located a short 10-minute walk from the University of Texas, this site offers unparalleled proximity to a vibrant student population and the university itself. Currently improved with a five-unit apartment complex, each unit boasts four bedrooms and two bathrooms. All units are currently leased, providing immediate cash flow with leases extending until July 31st, 2025. This represents a significant advantage for investors seeking both immediate return and long-term development potential. The property's zoning within the UNO overlay allows for the construction of a high-rise building, capitalizing on the area's high demand for housing and its strategic location near the university. This is one of the last remaining opportunities to develop a high-rise in this highly sought-after West Campus location. The asking price for this exceptional property is $7,000,000. An adjacent property, 2609 San Pedro, is also available for purchase, offering an additional 4,794 square feet of land for $3,000,000. The combined properties present an even more compelling opportunity for large-scale development.

• CAP approach

  CAP return

  Valuation

  6%

  $3,249,667

  6.5%

  $2,999,692

  7%

  $2,785,428

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,382,493

  Geo Method

  $3,382,493

• Alternative Use

  Use

  Valuation

  Residential

  $2,999,692

  Hospitality

  $2,747,702

  Educational

  $2,286,056

  Medical

  $2,364,677

  Retail

  $3,556,087

Location Insight

City

Austin

County

Travis

State

Texas

Latitude

30.2914

Longitude

-97.7456

CBSA code

12420

CBSA name

AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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