Active

1406 Summit Street

Austin TX, 78741

$999,000


$435.86 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!

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9601441

MLS ID

December 4, 2024

Listed

March 6, 2025

Updated

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


Patio And Porch

Covered, Rear Porch


Security

Prewired


Window

None

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


Days on Market

91


Accessibility

None


Garage

No


Parking

Off Street


Parking Total

3


View

Yes


View Description

Downtown


County

Travis


Water Source

Public


Pool Features

None


Waterfront Features

None


Utilities

Electricity Connected, Natural Gas Connected, Phone Available

Listing History

Date

Event

Price

3/5/2025

Price change

$999,000

-8%

2/2/2025

Price change

$1,075,000

-7%
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