Invest in the future of Austin in the coveted 78704 zip code. The property currently has 3 residences on it, and is zoned SF3. The oversized lot is .46 acres which is just over 20,000 square feet. Typical lots in this area vary between 6,000 and 7,800 square feet. While in process of development, the homes could be rented for $3400 per month. 2 renters are in place with month to month leases. This property is prime for a 1031 exchange.....invest in something tangible.

 

 

1. Divide property into 2 10,000+ sqare foot lots. This maintains the SF3 zoning.

1a. Survey with two lots shown: 610TerrellHillDrive2LotProposal.pdf

2. Develop two 2,000 sq. foot residences per lot, as residential condiminiums. (see rendering)

3. Sell or rent the individual units per investment needs.

4. A proposal of value is found at this link: 610TerrellHillSchematicRevised3312009.pdf

5. Follow this link to a topography map of the property:  610TerrellHillDriveTopography.pdf

There is a survey available at this link:  610TerrellHillSurvey.pdf

 

 

1. Each unit would generate between $2600 and $2850 per unit per month. Creating a monthly cash flow of between $10,400 and $11,400 per month.

2. Average time on the market is between 25 and 41 days.

3. The Austin Rental market is very strong, particularly in this zip code.