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Home > For Sale > Apartment Buildings(5+ Units)
Listing ID: 5039
raw land ready to built apartments on $960000 For Sale We can finance it! Property Description 10.001 ACRES OF LAND OUT OF THE GREENBURY GATES SURVEY NO 63, ABSTRACT NO 315 AND THE CALVIN BARKER SURVEY NO 38, ABSTRACT NO 58, BOTH IN TRAVIS COUNTY, TEXAS. The property has approximately an 11’ drop in elevation from the rear of the property to the street and is not located within a flood plain. The lot is currently in the City of Manor’s ETJ and CCN Territory. As part of the CCN Territory, the City of Manor is required to provide all necessary utility services including city power and city sewer. Manville will supply water. Time to complete construction on the 8-acre apartment project is 18 months. Time to complete construction on the 2-acre commercial retail center is 12 months. Costs are as follows: Estimated construction cost for the apartment community is $9 million. Estimated construction cost for the commercial retail center is $2 million. Carrying and Closing Costs: $2 million. The total project cost is $13 million. Based on a Market Analysis of the area: Estimated completed market value for the apartments at a CAP 10 will be $15 million. Estimated completed market value for the commercial retail center will be $4 million. Estimated completed project market value will be $19 million. We Contact Information Contact person: lauren 512-651-7008 Seller type: Developer Owner Finance: Yes MLS: Phone: Log in to view Address: Log in to view City: austin State/Province: Zip/Postal Code: Country: User Listings: Show All Ads by this member Listing Information Type: Land/Lot(s) Listing Status: For Sale Price: 960000 Bedrooms: Bathrooms: Stories: 3 Square Feet: 150 units Lot Size: 10 arecs Age of Home: new Additional Feature: Appliances: Built-in Microwave, Continuous Clean Oven, Dishwasher, Disposal, Exhaust Fan,Garborator, Gas Cooktop, Icemaker, Instant Hot Water Dispenser Benefits: Carport, Community Pool, Play Ground, Near School, Near Transit Planning to Sell or Buy a Home? Compare REALTORS® First. It's Fast and Free!