1406 Summit Street

Austin, TX 78741
$1,150,000
2292 sqft | 0.26 acres | #9601441
For Sale

Description

Prime Investment Opportunity Minutes from Downtown Austin! Located just minutes from downtown Austin, this multi-unit income property offers outstanding rental revenue and future development potential. Currently generating over $10,000/month with 3 successful units and a 3-year proven income history, this property is a must-see for investors or buyers looking to offset mortgage costs! Key Features: -Total Property Size: 11,325 sq ft lot with 2,292 sq ft of living space and a view of downtown Austin. Walking distance to Lady Bird Lake and many restaurants. -Main House (1,522 sq ft): A charming 4-bed, 2-bath home featuring a cozy dining room, covered porch, and plenty of natural light. Perfect for comfortable living. -ADU #1 (385 sq ft): A stylish first-floor studio with its own entrance and a vibrant Austin-inspired mural. Ideal for guests or additional rental income. -ADU #2 (385 sq ft): A second-floor studio with a unique Willie Nelson mural, offering both charm and functionality. Great for short-term rentals or a private retreat. -High Income Potential: All three units are currently short-term rentals with top ratings (4.8+), providing a steady stream of income.With 3 years of proven revenue of $10k/month, this is an opportunity you can’t pass up! -Zoning & Future Potential: Zoned SF3/MF4, allowing for multi-family development with options to expand or build additional units—offering long-term growth potential. Feasibility study has been completed and can be shared with interested buyers. Whether you're looking for a high-performing rental property or a site for future multi-family development, this location offers both immediate returns and long-term potential. Don’t miss this rare opportunity – schedule a tour today!
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  • Property Details
      • Interior:Separate Formal Dining Room, EatInKitchen, High Speed Internet, Multiple Dining Areas, MainLevelPrimary, Storage
      • View:City
      • Lot description:Back Yard, Front Yard, Trees Large Size, Trees Medium Size
      • Exterior materials:Private Entrance, Private Yard, Rain Gutters
      • Acres:0.26
      • Square Feet:2292
      • Property type:Multi-Family
      • Year built:1938
      • Foundation:Pillar Post Pier, Slab
      • Sewer information:Public Sewer
      • Utility source:Public
      • Utility features:Electricity Connected, Natural Gas Connected, Phone Available
      • Subdivision:Elmhurst
      • School district:Austin ISD
      • Elementary School:Travis Heights
      • Middle School:Lively
      • High School:Travis
      • County:Travis
      • Original List Price:$1, 150, 000
      • Days on Market (Cumulative):16
      • Taxes annual:$9, 561
      • Pets:1
      • MLS #:9601441
      • Cost:1150000
      • Property subtype:Triplex
      • MLS #:9601441
      • Property condition:Resale

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Based on information submitted to the MLS GRID as of 2024-12-18 21:28:38 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


The information being 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. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

Last Updated: . Source: ACTRIS

Listing Courtesy
Listing Agent: Caitlin Sullivan
Listing Office: JBGoodwin REALTORS WL

Lana KoenigReal Estate Group
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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The information being provided by Houston Association of REALTORS, Inc. is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Houston Association of REALTORS, Inc. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Houston Realtors Information Service, Inc. and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright 2022 Houston Association of REALTORS, Inc. All rights reserved.

The information being 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. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

Information provided Courtesy of San Antonio Board of Realtors. IDX information is provided exclusively 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. Information is believed to be accurate but not guaranteed. Provided courtesy of the San Antonio Board of Realtors. Copyright 2022 San Antonio Board of Realtors, All Rights Reserved.