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Jeannette Spinelli

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

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2201 Leon St , Austin, TX 78705
$1,750,000
Est. Payment: $8,975.46/mo
4 Bed
5 Bath
2288 Sqft
Status: active | Days on site: 1
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VCR-C15903466 - VCR-C159091383,VCR-C159052275
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Jeannette Spinelli
Broker Associate & Founder

House Description

Rare opportunity to acquire a stabilized, income-producing multifamily property in the heart of West Campus, one of Austin's most dynamic and redevelopment-focused neighborhoods. Just minutes from The University of Texas, downtown Austin, Texas Capitol Building, and major medical centers, this unique investment features five furnished income-producing studio residences with multiple rental strategies, including mid-term, long-term, and short-term rental potential. The heavy lifting has already been done. Units A through D are fully furnished. Unit A is leased through the end of 2026, Units B and C are secured under a new two-year lease with an experienced furnished rental operator, and Unit G is leased to the property's on-site cleaner, providing immediate cash flow with minimal day-to-day management. The owner currently manages only one active Airbnb, while preserving significant future operational flexibility. Each studio offers private exterior access, modern finishes, updated kitchens and baths, mini-split HVAC systems, in-unit laundry, and private fenced patios. Four off-street parking spaces add significant value in one of Austin's most supply-constrained rental markets. Beyond today's income, the property offers exceptional long-term potential. West Campus has been the focus of Austin's planning efforts for more than two decades, with the City encouraging high-density, pedestrian-oriented redevelopment around the University of Texas through the University Neighborhood Overlay (UNO) and its ongoing updates. The area continues to be one of Austin's highest priorities for urban growth and increased housing capacity, making this an attractive long-term hold with future redevelopment and assemblage potential. Buyers may continue the current stabilized leasing strategy, expand furnished rental operations as leases expire (subject to applicable regulations), or position the property for future redevelopment as the neighborhood continues to evolve.

Highlights

Listed by Robert Lemon , (512) 921-4373 DEN Property Group , (512) 222-3364. Austin MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.16

Year Built

1956

County

Travis

Area

UT

Neighborhood

Peterson

School District

Austin ISD

Listing ID

6989655

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:5
  • Full Bathrooms:
Appliances:Built-In Gas Range, Cooktop, Dishwasher, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Cooktop, Gas Range, Microwave, Refrigerator, Range Hood, See Remarks, Stainless Steel Appliance(s)
Floor:Tile,Vinyl
Other:
  • Additional:Breakfast Bar, Open Floorplan, See Remarks, Pets Allowed
Water:Public

Exterior Features

Lot:Alley,Back Yard,Front Yard,Landscaped,Native Plants,See Remarks
Roof:Asbestos Shingle
Others:
  • Additional:Private Yard, Resale
Sewer:Public Sewer
Parking Features:See Remarks
Principal Interest
$8,975
Taxes
$1,766

Home Price

$1,750,000

Loan Details

30 yrs
6.637%

Down Payment

20%
$350,000
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:
$8,975.46

Principal

Taxes

Principal Taxes HOA Total
Monthly $8,975.46 $1,765.62 $0.00 $10,741.08
Yearly $107,705.58 $21,187.42 $0.00 $128,893.00
Total $3,231,167.27 $635,622.60 $0.00 $3,866,789.87

Today's Rates

30 Year

6.64%

20 Year

6.43%

15 Year

5.99%

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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.
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Listings courtesy of Austin MLS as distributed by MLS GRID

IDX service by Blueroof 360

Data last updated: 2026-09-03T04:25:04.000Z

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