2201 Leon St - Campus Flats

OVERVIEW

Campus Flats is a 5-unit (plus garage) multifamily property located in the heart of West Campus just steps from all of UT’s main hot spots. Prime 78705 location just a short walk to UT Campus / The Drag. 5-10 minute drive (even during rush hour) to Downtown. Laundromat and grocery store within 3 blocks. Quiet street, only 4 units in the building, very private. Newly refurbished, open studio floor plan. Gas range in each unit. Large walk-in closets for residents. Street parking available with easy/inexpensive permit application process.

Colorful, active, dynamic, energetic, diverse – all of these apply to West Campus, and with its large amount of students in the neighborhood, it’s easy to see why. The brightly-painted buildings, the trendy little pizza joints, and even the amount of bicycles in the area help define this neighborhood as a haven for University of Texas-Austin students. But even if you aren’t a student, this neighborhood is terrific – there are plenty of apartments to choose from, the housing stock is diverse, and the location is ideal.

West Campus extends from Lamar Boulevard to “the Drag,” or Guadalupe Street. The Drag is where you’ll find a wide selection of shops, restaurants, and bars. These include local favorites like Cabo Bob’s, Halal Bros, the Spider House Café and Ballroom, and Kerbey Lane Café. On the west side, things are a little quieter with Pease Park and the Shoal Creek Greenbelt framing the area. No matter where in West Campus you choose to rent, you’ll be well within walking distance of campus, the Museum District, and Austin Community College.

FEATURES

  • Stable Cash Flow
  • Value Add With 6th Unit
  • Ideally Located
  • Alley Access
  • Huge Potential as a Residential Redevelopment
  • High Rental Renewal Rate

PROPERTY

Property Type

Multifamily

RBA (sf)

2800

Floors

2

Year Built

1956

Renovated

2017

Tenancy

Single

Class

C

Construction

Wood Frame

Parking Type

Surface

Land Area (ac)

0.15

Zoning

MF4

DETAILS

Campus Flats is a 5-unit (plus garage) multifamily property located in the heart of West Campus just steps from all of UT’s main hot spots. Prime 78705 location just a short walk to UT Campus / The Drag. 5-10 minute drive (even during rush hour) to Downtown. Laundromat and grocery store within 3 blocks. Quiet street, only 4 units in the building, very private. Newly refurbished, open studio floor plan. Gas range in each unit. Large walk-in closets for residents. Street parking available with easy/inexpensive permit application process.

Sale Type

Investment

Price

$1,300,000

Cap Rate

2.85

NOI

37092

Occupancy

100%

AGENTS

Tim Howard

Marketing Director/Associate
Email: [email protected]
Direct: 512.909.3590

DOCUMENTS

PHOTOS