Active
1406 Summit Street
Austin TX, 78741
$1,150,000
$501.75 per sqft
Active
2,292 sqft
Multi-family
Built in 1938
Prime Investment Opportunity Minutes from Downtown Austin! ALL FURNITURE CONVEYS!
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!
9601441
MLSⓇ ID
December 4, 2024
Listed
December 31, 2024
Updated
Map
1406 Summit Street
Austin TX, 78741
Interior Features
Total Stories
2
Interior Features
Eat-in Kitchen, High Speed Internet, Multiple Dining Areas, Primary Bedroom on Main, Stackable W/D Connections
Appliances
Dishwasher, Free-Standing Gas Range, Refrigerator, Washer/Dryer
Floor Description
Tile, Wood
Fireplace
No
Cooling
Yes
Cooling Description
Central Air, Varies by Unit
Heating
Yes
Heating Description
Central, Varies by Unit
Exterior/Building Features
Lot Size
0.26 Acres
Exterior Features
Gutters Full, Private Entrance, Private Yard
Lot Features
Back Yard, Front Yard, Trees-Large (Over 40 Ft), Trees-Medium (20 Ft - 40 Ft)
Roof
Shingle
Sewer
Public Sewer
School Information
School District
Austin ISD
High School
Travis
Elementary School
Travis Hts
Other Property Details
Area Name
9
Taxes
$9,561
Tax Frequency
Annually
Garage
No
Parking
Off Street
View
Yes
View Description
Downtown
County
Travis
Water Source
Public
Pool
No
Pool Features
None
Courtesy of JBGoodwin REALTORS WL
Listing Contact: (512) 502-7601
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Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2025 (date and time MLS GRID Data was obtained). 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
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Database last updated 8:48 PM UTC, 12/31/2024