Description
Large 0.5ac in Clarksville which is impossible to come by. Alley access. MF3 zoned. Sits right outside the Clarksville historic district so no limits on Historical status or historical committee involvement in redevelopment. 6246 sqft rentable space, currently getting ~14k/month in rents for 2022 - 2023 year. Consists of: a. Main House that is a 6 bed 3 bath currently getting $6,500 per mo but would fetch $10,500 to $11,500/mo on Summer to Summer rotation. b. A Duplex consisting of two, 2 bed 1 bath units, unit D and unit C and a 3rd building that has another 2 bed 1 bath, Unit E, all of of them get about $2,495 per mo rent. Owner occupant, investment rental, or prime redevelopment opportunity. Could sell back half as condos and keep front half as a residence. Multiple options for breaking up the lot with multiple uses. On the Development side: Would be key for a developer as there are significant profits to be unlocked if everything is scraped and redeveloped into townhomes, housing communities etc (similar to the Westline and Blanco St developments, pretty much sold out at $1000+/sqft, see links here https://www.westlineaustin.com/ And https://www.zillow.com/homedetails/706-Blanco-St-Austin-TX-78703/2067694602_zpid/ ) . Sale prices for newly remodeled or new construction in Clarksville ranging from 1000 - >1200 per sq ft. Even if a buyer keeps it as is and just remodels the units nicely you're easily looking at $850+/sqft so there is still good large profit with just a remodel, but the real profit is in redevelopment.
-
0BEDS
-
0.46ACRES
-
0BATHS
-
01/2 BATHS
-
6,246SQFT
-
$640$/SQFT
School Information
Description
Large 0.5ac in Clarksville which is impossible to come by. Alley access. MF3 zoned. Sits right outside the Clarksville historic district so no limits on Historical status or historical committee involvement in redevelopment. 6246 sqft rentable space, currently getting ~14k/month in rents for 2022 - 2023 year. Consists of: a. Main House that is a 6 bed 3 bath currently getting $6,500 per mo but would fetch $10,500 to $11,500/mo on Summer to Summer rotation. b. A Duplex consisting of two, 2 bed 1 bath units, unit D and unit C and a 3rd building that has another 2 bed 1 bath, Unit E, all of of them get about $2,495 per mo rent. Owner occupant, investment rental, or prime redevelopment opportunity. Could sell back half as condos and keep front half as a residence. Multiple options for breaking up the lot with multiple uses. On the Development side: Would be key for a developer as there are significant profits to be unlocked if everything is scraped and redeveloped into townhomes, housing communities etc (similar to the Westline and Blanco St developments, pretty much sold out at $1000+/sqft, see links here https://www.westlineaustin.com/ And https://www.zillow.com/homedetails/706-Blanco-St-Austin-TX-78703/2067694602_zpid/ ) . Sale prices for newly remodeled or new construction in Clarksville ranging from 1000 - >1200 per sq ft. Even if a buyer keeps it as is and just remodels the units nicely you're easily looking at $850+/sqft so there is still good large profit with just a remodel, but the real profit is in redevelopment.
© 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: 2022-07-03T00:02:02.147.