Austin, TX 78741,1406 Summit Street
Austin, TX 78741,1406 Summit Street
Austin, TX 78741,1406 Summit Street
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Colbey Pfund

Colbey Pfund

Pure Realty

+1(310) 433-6017
$1,150,000
Est. payment /mo
2,292 SqFt
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UPDATED:

12/18/2024 10:28 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,292 sqft

Price per Sqft $501

Subdivision Elmhurst

MLS Listing ID 9601441

HOA Y/N No

Originating Board actris

Year Built 1938

Annual Tax Amount $9,561

Tax Year 2021

Lot Size 0.260 Acres

Acres 0.26

Property 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!

Location

State TX

County Travis

Interior

Interior Features Eat-in Kitchen, High Speed Internet, Multiple Dining Areas, Primary Bedroom on Main, Stackable W/D Connections

Heating Central, Varies by Unit

Cooling Central Air, Varies by Unit

Flooring Tile, Wood

Fireplace No

Appliance Dishwasher, Free-Standing Gas Range, Refrigerator, Washer/Dryer

Exterior

Exterior Feature Gutters Full, Private Entrance, Private Yard

Fence Back Yard, Wood, Wrought Iron

Pool None

Community Features None

Utilities Available Electricity Connected, Natural Gas Connected, Phone Available

Waterfront Description None

View Downtown

Roof Type Shingle

Porch Covered, Rear Porch

Total Parking Spaces 3

Building

Lot Description Back Yard, Front Yard, Trees-Large (Over 40 Ft), Trees-Medium (20 Ft - 40 Ft)

Faces East

Foundation Pillar/Post/Pier, Slab

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Masonry – Partial,Wood Siding

New Construction No

Schools

Elementary Schools Travis Hts

Middle Schools Lively

High Schools Travis

School District Austin Isd

Others

Pets Allowed All

Special Listing Condition Standard

Pets Allowed All


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Listed by JBGoodwin REALTORS WL

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Colbey Pfund

+1(310) 433-6017

Realtor | License ID: 741291

Realtor License ID: 741291

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