$2,295,000
Blanco, TX 78606
Description
CAP RATE OVER 10%!!! Live Oak Apartments- exclusive multifamily property investment opportunity. Fully renovated 15-unit apartment complex is complete, move-in-ready w/high demand. The first new apartment complex to be constructed in many years, the other two complexes in the area are income-restricted or dated, and all are consistently at or near full capacity with low turnover. This building was repurposed from a former nursing home, retaining only the slab, exterior brick walls, and roof trusses. Notable features: PEX plumbing, gravity-fed drain lines, spray-foam insulation, high-efficiency windows and doors, Carrier central air conditioning in each unit, butcher block countertops, and new SS kitchen appliances. The property incorporates geo-tagged 3D imaging of all infrastructure for easy maintenance and repairs. A top-level fire suppression system ensures resident safety, while newly paved parking areas and privately sub-metered utilities provide convenience and efficiency. The property also offers a laundry room contracted with CSC on a revenue-sharing basis. The unit mix includes a fully furnished 3-bedroom/2-bathroom unit, six 1-bedroom/1-bathroom units, four 2-bedroom/1-bathroom units, and four 2-bedroom/2-bathroom units. Blanco, conveniently located 49 miles from both Austin and San Antonio, sits on US Highway 281 near the intersection with US Highway 290, in the heart of the Texas Hill Country. This scenic town, certified as a Night Sky Friendly + Scenic City, is surrounded by wineries, breweries, distilleries, and the beautiful Blanco River with its State Park. It offers residents and visitors opportunities for recreation and relaxation. Live Oak Apartments presents an exclusive multifamily property investment opportunity in the flourishing town of Blanco, Texas. This all-new 15-unit complex with modern construction and desirable amenities is poised to meet the high demand for quality housing in the area. Financials available by request
Key Features
- Price $2,295,000
- Property Type Commercial Sale
- Acres 1 Acres
- Utilities Electricity Connected,Sewer Connected,Water Connected
- City Blanco
- Status Active
Improvements
- Heating: Central
- Permit internet: 1
Land Features
- Lotsize Source: Public Records
- Area: 1
Other
- City: Blanco
- County: Blanco
- State: TX
- Zipcode: 78606
- Year Built: 2020
- Floors: Vinyl
- Subdivision: Paradise Heights
Property Map
From the square in Blanco, head north on Main (Hwy 281) turn right onto 6th street, take left on Live Oak Street, property is on the corner of 6th and Live Oak.
©2024 Austin Board of REALTORS. All rights reserved. - Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, Austin Board of REALTORS. Listing #2302401 Courtesy of The Seely Group LLC. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Information is deemed reliable but is not guaranteed.
