Listed by REspace LLC, Respace LLC
$600,000
208-210 N Vanderveer Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,944
Units 8
Cap Rate 8.00%
NOI $39,371
Occupancy 63%
Tenancy Multi
Pro-Forma NOI $48,093
Class C
Year Built 1977
Buildings 2
Acreage 0.340
Investment Type Stabilized
Sale Condition For sale by owner
Multifamily | 8.00% CAP | 8 Units
Marketing description
208-210 N Vanderveer is an eight-unit multifamily community comprising four two-bedroom and four one-bedroom residences. The property is currently owned by SANN Investments, Inc. and professionally managed by ManagePro LLC. Five units are occupied under leases extending into 2027, with three units in active lease-up. Owner-paid water and sewer service is partially recovered through tenant utility chargebacks; electricity is tenant-paid.
Investment highlights
- Priced at an 8% stabilized cap. Three vacant units in active lease-up offer immediate, quantifiable income upside.
- Diversified unit mix. Four 2BR/1BA and four 1BR/1BA units spread demand across two rent tiers.
- Leases running into 2027. Occupied units are secured on terms through 2027, anchoring in-place income.
- Turnkey, third-party managed. ManagePro LLC is in place — a passive option for an out-of-area investor.
- Growing Hill Country market. Burnet, the county seat ~54 mi NW of Austin, is up ~12% in population since 2020.
Listing Contacts
Listed by REspace LLC, Respace LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$39,371.00
$3,280.92/mo
Valuation Metrics
0
DSCR
6.56%
Cap Rate
6.56%
ROI
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