4314 Gillis St,Austin, TX 78745
Austin, TX 78745
Description
Gillis Place Apartments presents a rare value-add multifamily opportunity in the heart of South Austin, just minutes from St. Elmo, South Congress, and Downtown Austin. Offered at $98,958 per unit, the property is priced below the 2026 assessed value and includes an assumable fixed at 3.57% through August 2030, subject to lender approval. In today’s financing environment, the ability to assume long-term agency debt at this rate provides a significant competitive advantage and meaningfully reduces the cost of capital. The property consists of 24 identical one-bedroom, one-bathroom units, each approximately 500 square feet, creating a highly efficient operating model with a single floor plan, consistent maintenance requirements, and straightforward renovation execution. The community is currently 87.5% occupied, with the next lease already signed. Based on the seller’s underwriting, stabilized NOI is projected at approximately $182,000, representing an estimated 7.3% yield on total project cost in a market where comparable assets continue to trade near 5.5% capitalization rates. The existing loan balance of approximately $1.050 million represents roughly 43% leverage, requiring approximately $1.35 million of equity to complete the assumption. This structure is particularly attractive for 1031 exchange buyers, private investors seeking immediate financing certainty, and equity-rich operators looking to capitalize on below-market debt that is increasingly unavailable in today’s lending environment. The OM, current rent roll, trailing financials, and loan assumption package are available upon execution of a Confidentiality Agreement. Property tours are available by appointment only. Offers will be reviewed as received. All information contained herein has been obtained from sources deemed reliable but has not been independently verified.
Details
| MLS # | 7697685 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1973 |
| Days On Site | 47 |
| Listing Provided By | eXp Realty, LLC | Taylor Sherwood |
Features
| SQ Feet | 21,510 |
|---|---|
| Building(s) | 2 |
| Acreage | 0.43 |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Ductless, Electric |
| Flooring | Tile, Vinyl |
Exterior
| Foundation Details | Slab |
|---|---|
| Construction Materials | Hardi Plank Type, Stone |
| Security Features | Security Gate, Security Lights |
Parking
| Parking Features | Asphalt |
|---|
Utilities
| Utilities | Cable Available, Electricity Connected, High Speed Internet, Natural Gas Connected, Phone Available, Sewer Connected |
|---|---|
| Sewer | Public Sewer |
Other
| List Aor | Austin Board Of Realtors |
|---|
Taxes
| Property | 55000 |
|---|
Area Information
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78745 |
| Area | 10N |
| Community Name | Fritts Add |
| Listing VS Median (in Fritts Add) | |
Price: $2,375,000 low | high Med: $2,375,000 sqft: 21,510 low | high Med: 21,510 $ / sqft: $110 low | high Med: $110 On site: 47 low | high Med: 47 | |
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Listings courtesy of Austin Board of REALTORS® MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of August 28, 2026 at 5:29:02 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Learn More About This Property
| State | TX |
|---|---|
| County | Travis |
| City | Austin |
| Zip Code | 78745 |
| Area | 10N |
| Community Name | Fritts Add |
| Listing VS Median (in Fritts Add) | |
Price: $2,375,000 low | high Med: $2,375,000 sqft: 21,510 low | high Med: 21,510 $ / sqft: $110 low | high Med: $110 On site: 47 low | high Med: 47 | |