4314 Gillis, Austin, TX 78745

4314 Gillis Street presents a rare value-add multifamily opportunity in the heart of South Austin, just minutes from St. Elmo, South Congress, and Downtown Austin. Offered at $2,375,000 ($98,958 per unit and approximately $198 per square foot), the property is priced below the 2026 assessed value of $2,495,000 and includes an assumable Freddie Mac Small Balance Loan fixed at 3.57% through August 2030, subject to lender approval. In today’s financing environment, the ability to assume long-term agency debt at this rate provides a significant competitive advantage and meaningfully reduces the cost of capital.

The property consists of 24 identical one-bedroom, one-bathroom units, each approximately 500 square feet, creating a highly efficient operating model with a single floor plan, consistent maintenance requirements, and straightforward renovation execution. The community is currently 87.5% occupied, with the next lease already signed.

Current rents range from $750 to $895 per month while recent in-place leases have achieved $1,025 and $1,044, providing clear evidence of achievable market rents within the property itself. A modest cosmetic renovation program of approximately $5-10k per unit, combined with lease-up of the remaining vacancy and continued rent normalization, positions the asset for substantial NOI growth.

Based on the seller’s underwriting, stabilized NOI is projected at approximately $182,000, representing an estimated 7.3% yield on total project cost in a market where comparable assets continue to trade near 5.5% capitalization rates.

The existing loan balance of approximately $1.050 million represents roughly 43% leverage, requiring approximately $1.35 million of equity to complete the assumption. This structure is particularly attractive for 1031 exchange buyers, private investors seeking immediate financing certainty, and equity-rich operators looking to capitalize on below-market debt that is increasingly unavailable in today’s lending environment.

The Offering Memorandum, current rent roll, trailing financials, and loan assumption package are available upon execution of a Confidentiality Agreement. Property tours are available by appointment only. Offers will be reviewed as received.

Disclaimer: All information contained herein has been obtained from sources deemed reliable but has not been independently verified. Broker and Seller make no representations or warranties, express or implied, as to the accuracy or completeness of the information. Prospective purchasers are responsible for conducting their own independent investigations and due diligence regarding the property, including but not limited to physical condition, financial performance, leases, zoning, environmental matters, and all other material facts. Any financial projections, rent estimates, cap rates, or underwriting assumptions are provided for illustrative purposes only and are not guarantees of future performance. Any loan assumption is subject to lender approval and satisfaction of all applicable underwriting requirements. The property is offered subject to prior sale, price change, withdrawal from the market, or other changes without notice.