One of the most prime if not the most prime locations in West Campus, Austin, Texas located on 25th St and Rio Grande in the University area of West Campus which is right by the University Of Texas. UT is one of the biggest universities nationwide, which is constantly growing. This area has hardly ever any vacancies due to the constant growth of the university and is perfect for those looking for constant income stream and consistent cashflow. This is located in University Neighborhood Outlay (UNO) which allows for much more significant heights to be developed at this same location thus there is huge opportunity to develop this and increase the cap rate. Parking requirements are also removed and set back requirements are also removed allowing for more maximizing of the land space to building something bigger and higher and newer. Perfect buy for those looking for consistent source of income or someone looking to tear down and redevelop. Ideal location for a fraternity/ sorority house. Commercial zoning on Rio Grande allows for even more possibilities. 145 ft maximum height restriction.
The Chimneys was originally built in 1979 by Dr. Robert Snider. It consists of six 1 bed/ 1 bath units and two 2 bedroom/ 2 bath units. All units were recently renovated. Dell Medical School, LBJ Library, St. Davids Hospital, UT fields and football stadium are an easy walk from here. Guadalupe, "The Drag" is just 2 blocks away which has a multitude of restaurants, shopping, hotels, grocery, live music, entertainment, and just about anything else you need.
Property Listed by: Compass RE Texas, LLC
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Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS) from November 29th, 2023 at 9:45pm CST. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
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