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Palm Gardens Apartments 4314 Gillis St 24 Unit Apartment Building $3,427,432 CAD ($142,810 CAD/Unit) 5.50% Cap Rate Austin, TX 78745
Investment Highlights
- Value Add
- Great Walkability
- 10 minutes from downtown ATX.
- Highly Desirable Area
- Leasing new units monthly
Executive Summary
This investment presents a rare opportunity to acquire a 24-unit multifamily community in the highly sought-after 78745 submarket of South Austin.
The property delivers immediate in-place income with clear avenues to further drive revenue through operational improvements and strategic repositioning.
An assumable loan option provides incoming ownership with financial flexibility and favorable debt terms, lowering the barrier to entry and enhancing returns.
Located in one of Austin’s fastest-growing corridors, 78745 benefits from strong population growth, robust new development, and a thriving mix of residential, retail, and entertainment uses—making it a proven destination for both renters and investors.
The property delivers immediate in-place income with clear avenues to further drive revenue through operational improvements and strategic repositioning.
An assumable loan option provides incoming ownership with financial flexibility and favorable debt terms, lowering the barrier to entry and enhancing returns.
Located in one of Austin’s fastest-growing corridors, 78745 benefits from strong population growth, robust new development, and a thriving mix of residential, retail, and entertainment uses—making it a proven destination for both renters and investors.
Property Facts
| Price | $3,427,432 CAD | Apartment Style | Garden |
| Price Per Unit | $142,810 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 5.50% | Building Size | 12,000 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 85% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2025 |
| Property Subtype | Apartment | ||
| Zoning | GR, Austin - GR, Austin | ||
| Price | $3,427,432 CAD |
| Price Per Unit | $142,810 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Sale Condition | 1031 Exchange |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2025 |
| Zoning | GR, Austin - GR, Austin |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Grill
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 500 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 312799 | Improvements Assessment | $3,302,110 CAD |
| Land Assessment | $768,890 CAD | Total Assessment | $4,071,000 CAD |
Property Taxes
Parcel Number
312799
Land Assessment
$768,890 CAD
Improvements Assessment
$3,302,110 CAD
Total Assessment
$4,071,000 CAD
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Palm Gardens Apartments | 4314 Gillis St
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