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11409-11427 Ptarmigan St

Austin, TX 78758
  • $5,250,000
  • STATUS: Active
  • ID#: 6758787
UPDATED: 40 min ago
$5,250,000
  • 0
    BEDS
  • 1.66
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1981
County:
Area:

School Ratings & Info

Description

SVN | Angelic is pleased to present the exclusive offering of 11409-11427 Ptarmigan Drive (The "Property"), a unique, value add opportunity in Austin, TX. Constructed in 1987, the Property consists of twenty (20) total units comprised of ten (10) contiguous condo style duplex units averaging a spacious 1,002 square feet. There are several ways to add value to this property and capture extensive upside opportunity including but not limited to raising the majority of the rents to market in year one without improving the units, and/ or performing moderate interior renovations, to increase even rents even further, and/or selling off individually as four unit investments to take advantage of the residential price per units. The Average rents are $1,346/ unit, which are significantly less than comparable averages. The submarket has a strong occupancy rate of 93.2% and asking rents are up roughly 20% since the start of the pandemic, well above the national average (costar). The asset is in a prime location, situated less than 2 miles from the Domain, one of Austin's premier destinations for fashion, luxury, dining, and family fun with 100+ stores and restaurants, with plenty of nearby amenities including but not limited to Topgolf, Ascension Seton Northwest, and Dell Children's Medical Center of Central TX. Please email gabriel.silverstein@svn.com and alex.provost@svn.com for OM and additional info.

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© 2022 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-07-03T20:01:24.833.
www.livinaustin.com/homes/129153602
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11409-11427 Ptarmigan St Austin, TX 78758

  • Price: $5,250,000
  • Status: Active
  • On Site: Days
  • Updated: 40 min ago
  • ID#: 6758787
0
Beds
0
Baths
0
½ Baths
1.66
Acres
1981
Built
Neighborhood:
Quail Hollow
County:
Travis
Area:
Austin
Property Description
SVN | Angelic is pleased to present the exclusive offering of 11409-11427 Ptarmigan Drive (The "Property"), a unique, value add opportunity in Austin, TX. Constructed in 1987, the Property consists of twenty (20) total units comprised of ten (10) contiguous condo style duplex units averaging a spacious 1,002 square feet. There are several ways to add value to this property and capture extensive upside opportunity including but not limited to raising the majority of the rents to market in year one without improving the units, and/ or performing moderate interior renovations, to increase even rents even further, and/or selling off individually as four unit investments to take advantage of the residential price per units. The Average rents are $1,346/ unit, which are significantly less than comparable averages. The submarket has a strong occupancy rate of 93.2% and asking rents are up roughly 20% since the start of the pandemic, well above the national average (costar). The asset is in a prime location, situated less than 2 miles from the Domain, one of Austin's premier destinations for fashion, luxury, dining, and family fun with 100+ stores and restaurants, with plenty of nearby amenities including but not limited to Topgolf, Ascension Seton Northwest, and Dell Children's Medical Center of Central TX. Please email gabriel.silverstein@svn.com and alex.provost@svn.com for OM and additional info.
Exterior Features

Attached Garage YN No Bays 0 Construction Materials See Remarks Garage YN Yes Other Structures See Remarks Parking Features GarageOn Site Waterfront YN No

Interior Features

Building Area Total 20040 Cooling See Remarks Flooring See Remarks Heating See Remarks

Property Features

Accessibility Features See Remarks Additional Parcels YN Yes Building Features See Remarks Current Use Multi-Family Estimated Taxes 82206 Horse YN Yes Listing Terms See Remarks New Construction YN No Property Attached YN Yes Property Condition See Remarks Property Sub Type Apartment Sewer See Remarks Special Listing Conditions Standard Utilities See Remarks Water Source See Remarks

Property listed by Angelic Real Estate, Llc.


© 2022 Austin Board of REALTORS® (alternatively, from ACTRIS). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-07-03T20:01:24.833.
 
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Keller Williams Realty
1801 S. Mopac #100
Austin TX, 78746