About 5542 West North Avenue
Investment opportunity -- 10.5% cap rate -- in North Austin provides reliable monthly income from two 3-bedroom apartments on Housing Choice Vouchers plus seller is operator of successful ground-level sandwich shop who would like a sale-leaseback. Separate HVAC setup, including individual central air. Tenants pay $1,600 each plus all utilities except water. Ground-level space rents for $1,000 but business and LLC that owns building is controlled by same person. Expenses do not include costs of restaurant operation as they are now paid by owner and would continue to be under sale-leaseback. Full basement. Frontage benefits from 23,100 cars per day per IDOT. Roof replaced two years ago. Brick building at less than $77 per sf! Building should produce 7.6% cash-on-cash return (based on 25% down, 8.5% interest, 25-year amortization).
