INVESTMENT SUMMARY

Property Type: Single-Family
Subtype: Siding
Address: 4604 Stearns Lane
County: Travis
   
Square Feet: 1,471 SF
Lot Size: 131,551 SF (3.02 Acres)
No. of Buildings: 1
Occupancy: 100%
Year Built: 1952
Investment: Value-added Land Opportunity  

 

Property Description:
4604 Stearns is located on the West side of Stearns Lane, just North of US 290 between Loop 360 and MoPac Expressway. Inner city Sunset Valley location is an area known for its rural/country atmosphere residential properties. The neighborhood is bounded by U.S. 290 on the south and Barton Creek Green belt on all three other sides. The neighborhood consists of 8 streets and approximately 100 homes with an average construction age of 1984. The major North/South thoroughfares within the neighborhood are Stearns Lane and Dudmar Drive.

The property is a 3.04 acre parcel divided into two legal lots; a 1.0 acre lot with improvements of a 1452 SF house constructed in 1952, and a 2.04 acre unimproved lot. The site is one lot from the frontage of US 290, so the adjacent residential lot can be rezoned for neighborhood office in the future. There is a 100’ setback from the southern property line for any new commercial construction on the adjacent lot. There is a wastewater easement along the property line between to two parcels marked by two 60d nails on both sides of the lot. This allows for easy access to city water/wastewater services for future new construction on the back lot.

The property requires some repairs from deferred maintenance on the property. The garage structure will be repaired and re-stabilized within the first 30 days, both for safety and insurance coverage. The entire site requires yard maintenance from overgrown shrubs and repairs to the site drainage. Removal of the overgrown plants will increase the street appeal and long term view corridors within the property. The entire roof line, exterior siding, and interior walls require a coat of paint. Replacing the electrical line tie-ins and increasing the overhead line heights. The house is in rentable condition with these mild improvements. The house has a pier and beam system that has been updated to have concrete support beams. There is a 350’ water well, originally drilled in 1951 and re-drilled deeper in 1981, that provides water to the house, and it is connected to city waste-water services. The house is heated by proppane natural gas, there is a 250 gallon tank buried adjacent to the house.

 

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.