Executive Waterfront Living

Executive Waterfront Living
Enter the gated/guarded community of The Island on Lake Travis and the never ending pleasure of living ON-THE-WATER. If you are a water sport enthusiast, an outdoorsman or just want a place for R&R and are looking for a primary residence, an executive getaway, or an investment/vacation rental this 3 bedroom/ 2 baths north facing villa will surpass your most demanding needs. Enjoy watching water skiing, sailboats and powerboat racing from the wrap around balcony. Lounge at either of the two outdoor pools or the indoor pool all with hot tubs. Enjoy pin drop quiet sleep in the Master Bedroom with an occasional distant hoot owl/coyote howl and wake up each morning to the ever changing, mystic serenity of the mists rising from the lake. Villa 1206 is one of only six north facing 3 BR/2BR units (balcony is in the shade all day except for sunrise and sunset). All six of these north facing 3 BR units are still in the hands of the original owners. This is the first villa of these select six to be offered for sale at this low price. This one of a kind villa is on the second floor. One of these six north end units sold for $730,000 in February 2006.
Asking $249,000
You can own this property near cost free by renting the unit when you are not using it. There are several rental agencies who handle Island rentals. Many of the condo owners cover their monthly condo fees and loan payments by renting and still have the use of the unit. 1206 rents for $500-$600 per night and more on holidays. It is estimated that net income from rental should average from $1800 to $2500 per month. Do not overlook the benefits of treating this as a business with commensurate tax advantages so please check with your tax advisor to verify the advantages of treating this as a business.
Right now prices are depressed. You are buying at a depressed price. My wife is 90 and I am 87 which has forced us to move near our children.
Remember it will not always be this way. The real estate market will someday turn around and this unit will double in value.
2192 Total Sq ft
Living 1762 Sq Ft & Covered wraparound Balcony 430 Sq Ft (Approx 40 Feet long)
Kitchen with walk-in pantry & breakfast bar
Living room, dining room, kitchen and master bedroom overlook the lake
Living Rm 20 x 16, Dinning Rm 11 x 13, Master BR 13 x 22, Two Rear BRs 11 x 13 each
2 New Heat/AC Pumps, 2 Wood burning fireplaces (LR & Master BR)
Separate washer and dryer room with new units used less than one year, dishwasher less than one year old and refrigerator near new
Covered parking garage for two cars which is close to the elevator
Separate dedicated storage room with locked door near the parking spaces
Two Outdoor Pools and one Indoor Pool all with whirlpool
Lighted Tennis Courts, BBQ/Picnic area
Onsite - Courtyards with fountains, Day Spa, Fitness Center, Brizos Bar & Restaurant, Sundry Shop, Billiards
40 slip Marina and Boat ramp
ACTIVITIES GALORE
Boating Lake Travis (67 miles long, 270 miles shoreline, limestone bottom results in crystal clear water), Boat rafting parties - Cow Creek, Jet-ski/Water ski (jff.net/Austin), Island fishing guide onsite , Biking, Camping, Sailing, (austinyachtclub.org), Golf, Scuba (laketravisscuba.com), Parasail (airscapeparasail.com), Waterside fine, casual dining sites (cafebluetx.com, oasis-austin.com, johnnyfins.com, cncaustin.com), Kayaking (mockayaks.com), Boat/Houseboat rentals (lwmarina.biz), Hill Country hiking, Animal/Bird Watching, Flat Creek winery (flatcreekestate.com), Villa Antonia (villaantonia.com), Rusty Allen airport, Volente Beach (volentebeach.com), Austin The Music Capital of the World