Projects / Austin, TX
Fix up 12 workforce apartments in Montopolis without pushing tenants out
Community proposal. An idea from a member. Nobody has agreed to buy, sell or fund anything.
Overview
A development idea, not an investment. It shows the proposer's sources, assumptions and open questions. Investing is not available on Realtix.
A 1972, 12-unit building near the airport and East Riverside listed at $895K, about $75K per unit. The idea: renovate units only as they turn over, move month-to-month tenants to annual leases and keep rents at workforce levels.
The proposer does not own or control this property. It is listed for sale by its owner through their own brokerage, and the owner is not part of this proposal.
Proposer does not own or control this property and has not contacted the seller.
The plan
6300 Monsanto Dr is a two-story, 12-unit building in Montopolis listed for $895,000, which works out to roughly $75,000 per unit, very low for Austin. The listing describes long-term tenants on month-to-month leases at an assumed average of $800 a month. The plan is deliberately slow: no mass renovation and no forced move-outs. Units get updated (flooring, fixtures, paint, kitchens where needed) only when a tenant leaves on their own. Existing tenants are offered annual leases so income becomes more predictable. Rents stay workforce-level, which is what this neighborhood needs and what the building's small units can support. The first questions to answer: is it legally 12 units (the listing says '12 units assumed'), what condition are the roof, plumbing and foundation in, and what does the actual rent roll show?
Key assumptions
Purchase at the $895,000 asking price. About $15,000 of work per unit as units turn over, which is a Realtix assumption, not a bid. Rents near the listing's assumed $800 average. Closing and carrying costs about 3% of price. The building is legally 12 units, which still needs confirming.
Risks
Unit count is not confirmed. Building is over 50 years old. Month-to-month tenants can leave quickly, and income can drop. Renovating workforce housing can displace people if done carelessly, so the plan only renovates on natural turnover. City map facts: zoned MF-2-NP (multifamily, Montopolis neighborhood plan), not in a mapped floodplain, inside the Airport Overlay (Controlled Compatible Land Use Area). The mapped lot is only about 9,060 sq ft (0.21 acres), which looks small for 12 units under MF-2, so the building may be legally nonconforming or the parcel may include more land. Legal unit count and any neighborhood plan conditions need a zoning verification letter.
Open questions
Is the building legally 12 units, or legally nonconforming, on a mapped lot of about 9,060 sq ft? Does the parcel include more land than the mapped lot? What does the actual rent roll show? Roof, plumbing, electrical and foundation condition. Any conditions in the Montopolis neighborhood plan zoning. Seller has not been contacted, so price and terms are unknown beyond the listing.
Operator wanted
This plan needs an experienced, accountable operator: the person or company that would buy the property, run the work, manage it and answer for the results.
- What the role involves: confirming the numbers, negotiating with the seller, arranging financing, hiring contractors, getting permits and managing the property.
- Experience that fits: completed projects of a similar type and size in Austin, the right licenses for the work, and references.
- What happens next: Realtix reads every note, asks for your track record and checks references before any introduction. Raising your hand does not create a role, fee or agreement.
Numbers
These are the proposer's own estimates. They are not a valuation, an appraisal or offering terms.
| Purchase | $895,000 | Proposer estimate |
| Work and repairs | $180,000 | Proposer estimate |
| Reserves | $60,000 | Proposer estimate |
| Other costs | $27,000 | Proposer estimate |
| Total project budget | $1,162,000 | Calculated |
Realtix does not show projected returns on proposals.
Evidence
- Comparable sales or rents · not yet
- Contractor bid or written estimate · not yet
- Zoning or permit check with the city · not yet
- Inspection or condition report · not yet
- Financing quote or lender conversation · not yet
- Contact with the owner or listing agent · not yet
Sources
- Listing: cityfeet.com (Christie's International Real Estate, checked Oct 8, 2026).
- Realtix analysis of the same property on realtix.us.
- Zoning and overlays: City of Austin GIS (maps.austintexas.gov: COA address locator, zoning, floodplain, environmental and lot line layers), checked Oct 8, 2026.
- Map data is not a zoning verification letter or a survey; lot area is measured from the mapped lot line and is approximate.
Evidence is self-reported by the proposer unless a Realtix reviewer notes otherwise. Supporting documents stay private to the project team.
Proposed by
Published by its proposer, a Realtix founder. It was self-reviewed against Realtix's proposal rules, not reviewed by an independent second person.
Founder of Realtix
Profile details are self-reported. Nothing has been verified by Realtix yet.
Project group
A private group chat for people who want to work on this project. The proposer decides who joins. Messages are visible only to members. Discuss the plan, costs and risks; no fundraising or promises of returns. Realtix staff see a message only if a member reports it.
1 member in this group.
Funding
There is no offering for this project and no way to invest. Projects only become investable after Realtix selects them, an accountable operator and acquisition path are in place, the legal structure and offering documents are complete, and a registered partner runs the offering. Follow the project to hear about every step.