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1300 & 1302 Norwalk Lane 1302 Norwalk Ln 12 Unit Apartment Building For Sale Austin, TX 78703
INVESTMENT HIGHLIGHTS
- High rental demand supported by proximity to top-rated Austin ISD schools and major employers in both downtown Austin (only 2 miles away).
- MF-3 zoning allows for a maximum density of 21 units (36 units per acre) on this lot.
- Recent sales of neighboring 1,500 sq ft condos range from $750K to $1M+, and avg. sale price of Single Family Homes within 1 mile is $1.9M.
- MF-3 zoning allows nearly 20,000 sq ft to be built on this ± 0.6 acre lot which also has dual street frontages.
- Preliminary drawings indicate 12 x 1,600 sq ft condominiums could be built with 2-car garages and private roof terraces.
EXECUTIVE SUMMARY
Seize a rare opportunity to own a multifamily property in the highly desirable Deep Eddy neighborhood of Inner-West Austin. 1300 & 1302 Norwalk Lane, Austin, Texas 78703, is a 0.6-acre site comprising two older-vintage buildings offering a balanced mix of 12 income-producing apartments. This property provides both immediate investment returns and significant future development potential in one of Austin’s most sought-after residential neighborhoods.
EXCEPTIONAL LOCATION
- Positioned just west of downtown Austin, off Exposition Boulevard, between Lake Austin Boulevard and Enfield Road
- Part of the well-established Tarrytown, Deep Eddy, and Old West Austin neighborhoods, celebrated for their blend of historic charm and convenient, modern living
- Easy access to downtown via Lake Austin Blvd, and MoPac Expressway (Loop 1) ensures convenient commutes to North and South Austin, the Domain, the airport and other major roadways
The current improvements provide holding income and / or the opportunity to remodel to increase rents. The large, rectangular, gently sloping site with dual street frontage provides attractive immediate or long-term redevelopment options.
EXCEPTIONAL LOCATION
- Positioned just west of downtown Austin, off Exposition Boulevard, between Lake Austin Boulevard and Enfield Road
- Part of the well-established Tarrytown, Deep Eddy, and Old West Austin neighborhoods, celebrated for their blend of historic charm and convenient, modern living
- Easy access to downtown via Lake Austin Blvd, and MoPac Expressway (Loop 1) ensures convenient commutes to North and South Austin, the Domain, the airport and other major roadways
The current improvements provide holding income and / or the opportunity to remodel to increase rents. The large, rectangular, gently sloping site with dual street frontage provides attractive immediate or long-term redevelopment options.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.60 AC |
| No. Units | 12 | Building Size | 8,842 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Low-Rise | Parking Ratio | 1.58/1,000 SF |
| Building Class | C | ||
| Zoning | MF-3 | ||
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 8,842 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | MF-3 |
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PROPERTY TAXES
| Parcel Number | 112976 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,819,229 CAD |
PROPERTY TAXES
Parcel Number
112976
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,819,229 CAD
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1300 & 1302 Norwalk Lane | 1302 Norwalk Ln
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