1915 E MLK
Retail | 5.80% CAP | 17,595 SqFt
Marketing description
This 24-Unit Mixed-Use Community was fully remodeled in 2023. 1915 E MLK consists of 18 residential units, 4 practitioner suites, a restaurant and a yoga studio. The property is designed to be a unique health & wellness hub, providing a true live, work and healthy lifestyle living experience.
1915 E. Martin Luther King Jr. Blvd is conveniently situated in the vibrant Chestnut neighborhood of East Austin. Interior features include wood-like flooring, spacious kitchens, and washer / dryer in each apartment. This property is only 1 mile east of the University of Texas at Austin Campus and offers exceptional walkability and bike ability with convenient access to nearby shops, restaurants, and entertainment along E 6th St, E 7th St, E 11th St, Manor Rd and E MLK Blvd. For transit, the property is less than a mile from the E MLK MetroRail Station, and provides quick access to the bus route along MLK running from the Expo Center, through Springdale to Downtown and then towards Lake Austin.
Investment highlights
- Strong In-Place Cap Rate of 5.8% and trending in a positive direction
- Consistently High Historical Occupancy (100% occupied as of 06/23/2026)
- Full Renovation Completed in 2023 with approximately $3.5M spent on new electric, plumbing, appliances, windows, TPO roof, gas lines, interior finish outs, etc.
- Diversified Reliable Income Stream between residential, commercial and medical office units with the ability to convert as needed
- A+ Central East Austin Location less than a one mile to UT and two miles to downtown. High walkability score of 84 surrounded by numerous hospitals, co-working spaces, Moody Center/Amphitheater and top tier eateries like Este, Sour Duck, Dai Due, Nixta and more
- Austin Beginning to Rebound – Multifamily construction starts at 10 -year low. Austin boasts the lowest Rent to Income Ratio in the country (18%), while ranking #1 in Job Growth
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