516 E 40th ST Active Save Request In-Person Tour Request Virtual Tour
Austin,TX 78751
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,960 sqft
Price per Sqft $454
Subdivision Oaklawn Add
MLS Listing ID 2871159
Originating Board actris
Year Built 1972
Tax Year 2023
Lot Size 7,143 Sqft
Property Description
For Sale: "40 Hyde Park", a consistent money maker, 10 unit apt complex on 40th St, literally located a chip shot away from the 8th green at Hancock Golf Course. Professionally managed with 6 units as long term rentals and units 101,201,203,204 leased as licensed Short Terms Rentals (Air Bnb with excellent reviews!).units 101,201,204,205 have City of Austin STR licenses in place, a 2023 income statement is attached for these 4 Short Term Rental units, as well as a rent roll and 2023 income statement for the other 6 units that are under longterm (none longer than 1 year) leases.All units have separate electric meters. Many updates throughout the various units including several recent appliance replacements. Bldg has a common area washer/dryer lease in place that provides additional income (tenants pay by card or app and vendor collects/disburses to building owner quarterly). NOTE: 204 and 205 just leased on one year leases and 101 and 201 currently available for year long leases, Jan 1 availability.
Location
State TX
County Travis
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplace N
Exterior
Utilities Available Above Ground,Cable Connected,Electricity Connected,High Speed Internet,Natural Gas Connected
View None
Accessibility None
Total Parking Spaces 10
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Masonry – All Sides
New Construction No
Others
Restrictions City Restrictions
Acceptable Financing Cash,Conventional,1031 Exchange
Tax Rate 1.98
Listing Terms Cash,Conventional,1031 Exchange
Special Listing Condition See Remarks