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Jeannette Spinelli

Broker Associate & Founder | Spinelli Residential Group | KW - Austin Portfolio Real Estate

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4314 Gillis St , Austin, TX 78745
$2,375,000
Est. Payment: $11,926.94/mo
0 Bed
0 Bath
21510 Sqft
Status: active | Days on site: 4
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Jeannette Spinelli
Broker Associate & Founder
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House 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.
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Highlights

Listed by Taylor Sherwood , (512) 661-3843 eXp Realty, LLC , (888) 519-7431. Austin MLS mls logo

Property Type

Commercial Sale
Lot/Acreage
0.43

Year Built

1973

County

Travis

Area

10N

 Neighborhood

Fritts Add

Listing ID

7697685

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Floor:Tile,Vinyl
Other:Public

Exterior Features

Others:Resale
Sewer:Public Sewer
Parking Features:Asphalt
Principal Interest
$11,927
Taxes
$4,583

Home Price

$2,375,000

Loan Details

30 yrs
6.434%

Down Payment

20%
$475,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$11,926.94

Principal

Taxes

Principal Taxes HOA Total
Monthly $11,926.94 $4,583.33 $0.00 $16,510.28
Yearly $143,123.30 $55,000.00 $0.00 $198,123.30
Total $4,293,699.13 $1,650,000.00 $0.00 $5,943,699.13

Today's Rates

30 Year

6.43%

20 Year

6.23%

15 Year

5.8%

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Market insight data is pulled from the same city as the listing being viewed (Austin, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. 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.
The data relating to real estate on this website derive in part from the Internet Data Exchange program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Spinelli Residential Group | KW - Austin Portfolio Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
Listings courtesy of Austin MLS as distributed by MLS GRID

IDX service by Blueroof 360

Data last updated: 2026-07-17T19:21:25.000Z

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