— bed, — bath on 0.43 acres in Austin. Austin, TX 78745. $2,375,000.
About This Home
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.
- Property Type
- Commercial Sale
- Year Built
- 1973
- Lot Size
- 0.43 acres
Listing information last updated August 11, 2026.
Listed by eXp Realty, LLC
MLS# 7697685 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Highlights
Facts & Features
Interior
- Tile
- Vinyl
- Heating
- Ductless,Electric
- Cooling
- Wall/Window Unit(s)
Exterior & Lot
- Hardi
- Plank Type
- Stone
- Slab
- Lot Size
- 0.43 Acres
- Asphalt
Financial
- Original List Price
- $2,375,000
Utilities
- Cable Available
- Electricity Connected
- High Speed Internet
- Natural Gas Connected
- Phone Available
- Sewer Connected
- Water Source
- Public
- Sewer
- Public Sewer
Transaction History
2 records on file
Every recorded listing, sale, and lease at 4314 Gillis ST, whoever represented it.
- ActiveListed 2026Current price: $2,375,000Original list: $2,375,000MLS 7697685
- Listed · July 12, 2026$2,375,000
- ExpiredListed 2025Current price: $2,495,000Original list: $2,495,000MLS 6942708
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
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Price & Listing History
Listing timeline with current price, original ask, and market time.
- Current list
- $2,375,000
- Original list
- $2,375,000
- Price movement
- No verified reduction
- Listed / DOM
- Jul 12, 2026 · 96 days
Tax Record
Public record data from county appraisal records. Market value can differ from assessed value.
- Assessed Value
- $3,000,000
- Assessment Year
- 2025
- Year Built
- 1973
- Parcel ID
- 000000312799
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025+13.6% | — | $3,000,000 | $566,610 | $2,433,390 |
2024-9.0% | — | $2,640,000 | $566,610 | $2,503,390 |
2023+20.8% | — | $2,900,000 | $566,610 | $2,553,390 |
2022+2.6% | — | $2,400,000 | $566,610 | $2,333,390 |
2021 | — | $2,340,000 | $566,610 | $1,957,390 |
Virtual Tour
District Schools Nearby
Lasa High School
Bowie High School
McCallum High School
Garza Independence High School
Austin High School
Anderson High School
District context schools are shown because address-level assigned school fields are not available for this property. Contact the school district directly to verify current boundaries and enrollment eligibility.
Excluded from this estimate: property taxes, home insurance, and HOA dues. Each requires verified amount, cadence or unit, source, and as-of details.
20% ($475K)
Adjustable assumption - not a lending recommendation.
$2,375,000
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Keenan Market Position
A sourced read on Austin pricing, timing, and property scale. No automated valuation claim.
List price
$2,375,000
Price per sqft
Not available
Vs. Neighborhood guide reference price
Not available
Days on market
96 days
Original to current
No verified reduction
$2.4M original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Oct 15, 2026.
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