Sabinal Apartments | 1614 Wheless Ln
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Sabinal Apartments 1614 Wheless Ln
22 Unit Block of Flats £2,564,800 (£116,582/Unit) 5.73% Net Initial Yield Austin, TX 78723
Investment Highlights
- Prime Windsor Park Location
- Tremendous Upside Potential
- Nearly an Acre of Land
- 8 Vacant Units
Executive Summary
The subject property is a twenty-two-unit apartment complex built in 1970 and located in the prime, up and coming area of Windsor Park
in Austin Texas on an oversized, nearly 1 acre lot. Ideally situated on Wheless Lane, just off Berkman Drive and just south of the 290, this
walkup complex has undergone some renovations over the past 5 years but still has significant value add upside. The property boasts a diverse
unit mix with one single, seven 1 bedroom, 1-bathroom units and fourteen 2 bedroom, 1 bathroom units. The prime location allows occupants to
enjoy all of Austin’s world-famous entertainment, dining and culture, within the comfort of a quiet and luxurious home.
8 UNITS ARE CURRENTLY VACANT
The improvements are built on a 41,521 square foot lot with a total rentable square footage of 18,596.
There are 50 on-site garage parking spaces on this nearly 1 acre lot. Each well maintained unit is individually metered for gas and electricity.
in Austin Texas on an oversized, nearly 1 acre lot. Ideally situated on Wheless Lane, just off Berkman Drive and just south of the 290, this
walkup complex has undergone some renovations over the past 5 years but still has significant value add upside. The property boasts a diverse
unit mix with one single, seven 1 bedroom, 1-bathroom units and fourteen 2 bedroom, 1 bathroom units. The prime location allows occupants to
enjoy all of Austin’s world-famous entertainment, dining and culture, within the comfort of a quiet and luxurious home.
8 UNITS ARE CURRENTLY VACANT
The improvements are built on a 41,521 square foot lot with a total rentable square footage of 18,596.
There are 50 on-site garage parking spaces on this nearly 1 acre lot. Each well maintained unit is individually metered for gas and electricity.
Property Facts
| Price | £2,564,800 | Apartment Style | Low Rise |
| Price Per Unit | £116,582 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.95 AC |
| Net Initial Yield | 5.73% | Building Size | 24,850 SF |
| Gross Rent Multiplier | 10.03 | Average Occupancy | 77% |
| No. Units | 22 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1970/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.69/1,000 SF |
| Price | £2,564,800 |
| Price Per Unit | £116,582 |
| Sale Type | Investment |
| Net Initial Yield | 5.73% |
| Gross Rent Multiplier | 10.03 |
| No. Units | 22 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 24,850 SF |
| Average Occupancy | 77% |
| Number of Floors | 2 |
| Year Built/Renovated | 1970/2020 |
| Parking Ratio | 1.69/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 683 |
| 2+1 | 14 | - | 898 |
| Studios | 1 | - | 500 |
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Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 226773 | Improvements Assessment | £1,013,752 |
| Land Assessment | £998,382 | Total Assessment | £2,012,134 |
PROPERTY TAXES
Parcel Number
226773
Land Assessment
£998,382
Improvements Assessment
£1,013,752
Total Assessment
£2,012,134
zoning
| Zoning Code | MF-3 |
| MF-3 |
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Sabinal Apartments | 1614 Wheless Ln
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