Austin SW - Hal Patterson
1/32
Courtesy of: JBGoodwin REALTORS WL, (512) 502-7601, Caitlin Sullivan
Local Realty Services Provided By: Keller Williams Realty
Overview
What It'll Cost
Neighborhood
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$999,000
1406 Summit Street, Austin, TX 78741
2,292 sq ft
.26 ac
$999,000

1406 Summit Street, Austin, TX 78741

Estimation provided by Keller Williams Realty Inc.
2,292 sq ft
.26 ac
Active
For Sale

Property Description

Prime Investment Opportunity Minutes from Downtown Austin! ALL FURNITURE CONVEYS!

Located just minutes from downtown Austin, this multi-unit income property offers outstanding rental revenue and future development potential. Currently generating over $10,000/month with 3 successful units and a 3-year proven income history, this property is a must-see for investors or buyers looking to offset mortgage costs!

Key Features:
-Total Property Size: 11,325 sq ft lot with 2,292 sq ft of living space and a view of downtown Austin. Walking distance to Lady Bird Lake and many restaurants.
-Main House (1,522 sq ft): A charming 4-bed, 2-bath home featuring a cozy dining room, covered porch, and plenty of natural light. Perfect for comfortable living.
-ADU #1 (385 sq ft): A stylish first-floor studio with its own entrance and a vibrant Austin-inspired mural. Ideal for guests or additional rental income.
-ADU #2 (385 sq ft): A second-floor studio with a unique Willie Nelson mural, offering both charm and functionality. Great for short-term rentals or a private retreat.
-High Income Potential: All three units are currently short-term rentals with top ratings (4.8+), providing a steady stream of income. With 3 years of proven revenue of $10k/month, this is an opportunity you can’t pass up!
-Zoning & Future Potential: Zoned SF3/MF4, allowing for multi-family development with options to expand or build additional units—offering long-term growth potential. Feasibility study has been completed and can be shared with interested buyers.

Whether you're looking for a high-performing rental property or a site for future multi-family development, this location offers both immediate returns and long-term potential. Don’t miss this rare opportunity – schedule a tour today!

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Property Details

Compare This Home
Overview
Property Type
Triplex
Property Size
2,292 sq ft
Year Built
1938
Days on Site
105 Days
HVAC
Central Air, Central, Varies by Unit
Parking
3 Parking Spaces
Your Agent
Austin SW
498794

Activity History

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SAVES
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SHARES
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Data provided by Keller Williams Realty, Inc.
Upcoming Open Houses
No open houses are currently scheduled for this property. Don't worry - you can always schedule a tour, or get additional help from your agent.

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Purchase Price: $999,000
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Price & Tax History

Date
Event
Price
03/05/2025
Price Decrease
$999,000
(-7.07%)
02/02/2025
Price Decrease
$1,075,000
(-6.52%)
12/04/2024
Listed
$1,150,000
Year
Property Tax
Assessed Value
Assessed Value is a combination of the land and additions.
2022
$14,994
(+26.77%)
$647,853
Land 420,000 + Additions 227,853
2021
$11,828
(+23.71%)
$562,309
Land 262,500 + Additions 299,809
2020
$9,561
(+0.39%)
$562,309
Land 262,500 + Additions 299,809
2019
$9,524
(+0.78%)
$433,600
Land 262,500 + Additions 171,100
2017
$9,450
$423,740
Land 262,500 + Additions 161,240
The Property History data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As kw.com cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your agent directly in order to obtain the most up-to-date information available.

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Transit & Commute

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Car-Dependent Walkable Very Walkable
Your Agent
Austin SW
498794

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