WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
A rare full rehab opportunity four miles from downtown Austin. 2901 Sweeney Lane is a 10-unit, 7,796 SF apartment building on a 0.2314-acre corner lot in one of East Austin's most dynamic, fast-growing submarkets. Built in 1972 and positioned on the southeast corner of Sweeney Lane and Manor Road, the property is being offered as-is, where-is via a Lender Directed Auction– a unique opportunity to acquire a value-add multifamily asset at a basis well below replacement cost in a market anchored by Tesla, Samsung, Apple, and Oracle.
Property Highlights
• 10 units – 780 SF average unit size, two-story wood-and-masonry construction
• 7,796 SF building on a 0.2314-acre (10,080 SF) corner lot
• Individually metered electricity; parking lot plus on-street parking
• Zoned MF-3-NP (multifamily, neighborhood plan overlay)
• Outside the 100-year floodplain (Zone X500)
• Full renovation opportunity
• Offered as-is, where-is
• Free & Clear Title | No Back Taxes | No Liens | Title Insurance Available
• Subject to Sale Prior to the Auction without Notice – Pre-Auction Offers Welcomed – Brokers Protected
Location Advantages
• Approximately four miles northeast of downtown Austin
• Approximately two miles east of I-35, with easy access to major employment corridors
• Located in East Austin's 78723 zip code, near the Mueller redevelopment and Cameron Road corridor
• Within the broader Austin MSA, one of the fastest-growing major metros in the U.S.
• Proximity to major regional employers, including Tesla's Gigafactory Texas, Samsung's Taylor fabrication plant, and Apple's and Oracle's Austin campuses
• Served by City of Austin water, sewer, fire, and police
Tranzon Asset Advisors of Texas, LLC, # 9008058, Kelly D. Toney, TX Auctioneer #11818, Broker #0421809
10% Buyers Premium based on the high bid and other terms apply.
Property Inspection: Tues 11/10 at 1:00pm - 2:00pm CT
Bidding Closes: Tues 11/17 at 12:00pm CT
Contact Kelly Toney at 713-816-1123 or ktoney@tranzon.com
