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933 Park Plaza Drive, Austin, TX 78753 For Sale

SU
$900,000
59 days on market
Updated 14 days ago

4 2 bedroom 1 bath apts on 1.2 acres Austin Texas 78753

Details
Property Type Multifamily
Net Rentable (SqFt) 26,400
Units 3
Cap Rate 2.93%
NOI $26,400
Occupancy 90%
Tenancy Multi
Rent Bumps Yes
Year Built 1984
Year Renovated 2022
Buildings 5
Acreage 2 - 2.5
Zoning Multifamily
Sale Condition For sale by owner

Overlooking Little Walnut Creek -- The 5 separate properties at 905-933 Park Plaza Drive Austin, Tex

Marketing description

  • The 5 separate properties at 905-933 Park Plaza Drive Austin, Texas 78753 grouping of two (2) duplexes and three (3) fourplexes, collectively known as Park Plaza II, is comprised of 2-Bed | 1-Bath units with an average size of 803 ± SF. The five contiguous parcels are on Park Plaza Drive with some extra land on the east side backing up to Little Walnut Creek. All units have full-sized W/D connections. Each building has its own water meter. This offer has five properties from 905-933 Park Plaza Drive. These properties could be sold off individually or may benefit from creating a condo regime over time. This neighborhood between Austin Center and The Domain is 10 minutes from UT Austin and has great accessibility right off I-35 — to all of Austin's services and amenities — by all forms of transit. Nearby is Gustavo “Gus” Garcia District Park, a full-service outdoor recreation greenspace; and located across the street from the park is the Dobie Middle School (AISD). Harmony Science Academy, a PreK–8th grade public charter school, has a notable presence along E. Rundberg Lane as well.

The City of Austin recently did a $2.5m streambed beautification, erosion control, and stabilization project on Little Walnut Creek on this Park Plaza property.

The 5 separate properties at 905-933 Park Plaza Drive with 36 parking spaces between the Domain and Austin -- in Austin, Texas 78753 grouping of two (2) duplexes and three (3) fourplexes, collectively known as Park Plaza II, is comprised of 2-Bed | 1-Bath units with an average size of 803 ± SF. The five contiguous parcels are on Park Plaza Drive with some extra land on the east side with beautiful views of Little Walnut Creek and the Austin skyline. 933 Park PLaza Drive has 1.2 acres with an additional multifamily buildable lot with already completed survey, permit application, and site plan. View of Austin skyline and Creek with great birdwatching.

Welcome to Park Plaza Townhouses II on Park Plaza Drive in Heritage Hills, Austin, Texas

Park Plaza II Apartments is a 16-unit complex where your unit is like your own house! You have views of Little Walnut Creek and lawn area for BB-Ques and recreational activities. Park Plaza II residences, in North Central Austin offer great features and amenities like fireplaces, w/d hook-ups, and convenient on-site parking options. Write us an email to find out availability today. There is a $300 one-time pet fee and $25 fee for 2nd parking space. 1st space is free. Please send us an email with your name, phone number, requested move in date, and any other questions.

Park Plaza II residences have spacious 2-bedroom floor plans, tons of light windows on 4 sides and sliding glass doors to private decks with natural, quiet views of the creek, and fireplaces. Great birdwatching! Your views are of scenic Little Walnut Creek and outdoor areas allow you to feel the breeze and the quietness of a protected green area surrounding the Creek. Our on-site management take pride in ensuring every aspect of our property is functioning at high standards. 20 minutes from downtown, located in North Central Austin near Highway 183 and I-35, vibrant Austin life with shopping centers, restaurants, colleges and parks are a short walk away.

Right next door to North Acres Neighborhood Park that offers hiking and bike lanes and Gustavo "Gus" L. Garcia Recreation Center offers youth, teen, adult, and senior adult programs. Programs offered include: The After School Program, Youth Sports Leagues, Teen Programs, Youth and Teen Summer Camp, Adult Exercise Programs, and Senior Programs. The facility is approximately 20,000 square feet and consists of a gymnasium with six basketball goals and a climbing rock wall, a fitness center, public computers, an aerobic/dance room, three other multi-purpose rooms, and locker rooms with showers.

View of Austin from Park Plaza II Residences in Heritage Hills on Little Walnut Creek.

Investment highlights

Overlooking Little Walnut Creek -- The 5 separate properties at 905-933 Park Plaza Drive Austin, Texas 78753 grouping of two (2) duplexes and three (3) fourplexes, with 36 parking spaces, collectively known as Park Plaza II, is comprised of 2-Bed | 1-Bath units with an average size of 803 ± SF.

All 5 properties can be sold separately and 933 Park Plaza with 1.2 acres has an additional buildable lot where another single family or multiplex could be built.The 5 separate properties at 905-933 Park Plaza Drive with 36 parking spaces between the Domain and Austin -- in Austin, Texas 78753 grouping of two (2) duplexes and three (3) fourplexes, collectively known as Park Plaza II, is comprised of 2-Bed | 1-Bath units with an average size of 803 ± SF. The five contiguous parcels are on Park Plaza Drive with some extra land on the east side with beautiful views of Little Walnut Creek and the Austin skyline.

933 Park PLaza Drive has 1.2 acres with an additional multifamily buildable lot with already completed survey, permit application, and site plan. View of Austin skyline and Creek with great birdwatching.

Listing Contacts

SU

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Loan Amount
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Annual Cash Flow
$26,400.00
$2,200.00/mo

Valuation Metrics

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DSCR
2.93%
Cap Rate
2.93%
ROI

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Additional Information

Name
Stafford Ullrich
License
725404
Brokerage
Falaya LLC
Brokerage Phone
225-416-6130
Title
Real Estate Broker
Brokerage Address
4818 Tulane Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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