Investing in real estate has always been a popular choice for individuals looking to diversify their portfolios and generate passive income. With the real estate market in Austin, Texas, booming, there has never been a better time to consider purchasing an investment property in this vibrant city. One such property that catches the eye is an Austin investment property currently for sale.
This particular property is a completely remodeled 1,200-square-foot home with an additional 200-square-foot building in the backyard. The house has undergone a meticulous renovation, being stripped down to the studs and rebuilt to resemble a brand-new home. Situated on an oversized corner lot, this property offers both space and privacy, making it an ideal investment opportunity.
Location is key when it comes to real estate, and this property ticks all the boxes. It is conveniently located just 11 minutes away from the Apple campus, 14 minutes from Downtown Austin, 21 minutes from Tesla, and 17 minutes from Samsung. For sports enthusiasts, it is just a short 5-minute drive from The Domain and Q2 Soccer Stadium. This prime location ensures a steady stream of potential tenants, making it an attractive investment opportunity.
The interior of the property has been thoughtfully redesigned to offer an open floor plan that combines the family room and kitchen. This modern layout enhances the overall living experience and creates a seamless flow throughout the home. Additionally, the property boasts a private backyard with mature trees, providing a serene outdoor space for tenants to enjoy.
What sets this investment property apart is the extensive list of updates and replacements that have been made. The entire electrical system, HVAC, plumbing, windows, insulation, drywall, doors, paint, siding, roof, floors, bathroom, kitchen, porch, private fence, carport shade, and concrete driveway have all been replaced or upgraded. This attention to detail ensures that tenants will be living in a well-maintained and comfortable home.
Furthermore, all appliances come with a manufacturer’s warranty, providing peace of mind for both the landlord and tenants. The air conditioning system is covered for 10 years, and the water heater has a 5-year warranty, adding an extra layer of security to the investment.
Currently, the property is occupied by a tenant who is leasing the premises. This is a significant advantage for potential buyers as it means immediate income generation from day one of ownership. The tenant is currently paying $3,400 a month in rent, providing a steady and substantial cash flow.
It is worth noting that the lease agreement expires on 7/12/23, giving the new owner flexibility to either renew the lease or explore other options at the end of the term.
In conclusion, this Austin investment property for sale presents an incredible opportunity for individuals looking to invest in real estate. With its prime location, extensive renovations, and a tenant already in place, this property offers the potential for great returns. Whether you are a seasoned investor or looking to dip your toes into the world of real estate, this property is definitely worth considering. Don’t miss out on the chance to own an income-producing property in one of the hottest real estate markets in the country.
8516 Contour DR, Austin, TX 78757