7305 & 7307 Oak Meadow Dr. Austin Tx. 78736 Great investment opportunity to own two rare four-plexes, two side-by-side in a fast-growing part of South Austin, in the Oak Hill Area. Close to Dripping Springs, Lakeway, and downtown Austin, near the intersection of highway 290 and 71. All, but one unit are occupied. Please do not disturb tenants. Income-producing property! Will show all units with accepted contract. For a serious buyer, we will arrange for a showing of one typical unit. All units have the same floor plan. Must be sold as a package. Must close by December 1. Property Details: • Over half an acre of total land across both units. • Both properties back to the ACC campus. Very private wooded area. • Year built - 1983 • Off street parking, 2 spots per unit with the current striping. • 8 units total, 4 units per building • 2 bedrooms and 1.5 bathrooms per unit with great storage. • 6 of the 8 units are rented at below-market rent with the potential to raise the rents and increase income. • Possible opportunity for a condo conversion Unit information: • 2 Bedroom and 1 1/2 Bathroom - 1080 SqFt - large bedrooms with walk-in closets, open floor plan downstairs for entertaining by the working fireplaces. The kitchen has a refrigerator, dishwasher with a flat-top stove. Washer and dryer connections in the unit. • Most units have been updated with granite countertops in the kitchen & baths and vinyl plank floors. • Separate electric meters, common water, and trash. Tenants pay all utilities including prorated water and trash. • All appliances are electric. Rental Income information and cash flow: Current Rents: The owner paused rent increases during the pandemic. Recent actual & market rents indicate the potential for upside in income if rent is increased to the current rate of $1325+ per unit. 7305 Oak Meadow: A - $1325 - Just Moved in 2021 B - $1245 - Same tenant since 2015 C - Vacant - Left vacant to help show to investors D - $1175 - Same tenant since 2018 7307 Oak Meadow: A - $1245 - Same tenant since 2017 B - $1275 - Same tenant since 2018 C - $1245 - Same tenant since 2017 D - $1245 - Same tenant since 2017
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