Beautiful Estate Home in Historic Georgetown TX
Online Auction: Auction Closes August 23rd!
1008 E University Ave,Georgetown
Beautiful Bed and Breakfast in Olive Street Historic area of Georgetown TX
Starting Bid: $250,000
Online Auction Opens: Friday August 10th at 10AM
Auction Closes: Thursday August 23rd at 7PM
This is an amazing property with so much potential.
This home has been loved and cared for and is in beautiful condition.
Presenting for Auction 1008 E. University Ave also known as "the San Gabriel House Bed and Breakfast"
This auction is for the real estate, the business can be purchased as an ongoing business for an additional amount in addition to the real estate. Please contact us if you are interested in the ongoing business and to review financials.
This beautiful estate home is located in quaint Texas hill country town of Georgetown. The mansion was built in 1914 by the Belford Lumber Company and boasts 5,318 square feet of charm and elegance with amazing woodwork and beautiful authentic craftsmanship. The home features 6 bedrooms, 6.5 bathrooms, formal living, formal dining, multiple sitting areas, formal library, and picturesque gardens for pure relaxation and peace. This circa 1914 home remains remarkably original, with a floor plan that is very practical for modern-day use. Located directly across from Southwestern University in the highly desirable Olive Street Historic District, the home rests on a 2/3 acre lot (half block), well-shaded with a dozen mature pecan trees. Plenty of natural light throughout the property (nearly every room having 3 walls of windows), original doors, floors and cabinets, with a recently renovated kitchen that keeps with the historic charm. The property includes a carriage house that has two 1 bedroom apartments totaling an additional 1200 SF.
Click for full picture gallery and to BID ONLINE NOW.
Co- Brokering Agent:
Keller Williams Realty | Ben Kinney Real Estate Team
c: 512-730-1225 | Email: Eryn@benkinneyteam.com
||Historic District Georgetown TX
||Six and One Half
|Heating and Cooling
||Central Heat and Air
||Brick/ Cypress wood shiplap
||Pier and Beam 30 Inch Crawlspace
||Two Stall Detached|
- 2 Additional Apartments, 600 SF Each
- Full Library in Home
- Located on 1/2 City Block, 3/4 Acre
- Can be operated as Bed and Breakfast / Air B&B
- Located in Olive Street Historic District
Some additional info:
The carriage house is 2 beds/2 baths, 1200 sqft (600 up, 600 down) - it has its own water heater and it's own electric meters, as well as window AC units on each level. The water in the carriage house is tied with the rest of the property. The entire property was built circa 1914 according to a historian. The siding is all cypress wood shiplap, and the pillars out front around the porch are solid brick. The roof is composition shingle (15 yrs old), but the section over the porch is metal. The home was built by Belford Lumber Company and is located in the Olive Street Historic District. It's foundation is pier and beam with the duct work under the house - 30" of crawl space. It is zoned single family residential with a special use permit for B&B. The floors are long leaf pine upstairs, oak downstairs. The doors are mahogany. All original doors, floors, cabinets. Ceilings are 12' downstairs, 10' upstairs. Nearly every room has 3 walls with windows. There are 12 mature pecan trees on the lot in addition to the various other trees/plants. There is a 21-zone sprinkler system and LOTS of square footage of porch space (1100 sqft +- in the wraparound alone). The AC and Heat are located outside, and the AC units were replaced 2 and 5 yrs ago. There is Central AC and heat, in addition to window units in each guest room upstairs so they can control their own temp. The water heater consists of 2 redundant systems - keeps 100 gallons of hot water at a time. For the insulation, there is a radiant barrier and Dee & Neil have added additional insulation since they've owned the property. There are 55 interior storm windows (temp, UV, sound, and bug protection).
||City of Georgetown
|Sewer and Waste
||City of Georgetown
Residential with Special Use Permit for Bed and Breakfast
For Real Estate Agents
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Here is a brief overview of how a Caprock Auction works.
- Familiarize yourself with the property being auctioned.
Get all the necessary information you need to get become comfortable with the property being auctioned. We provide all the information known to us about the property for the auction. You can schedule a private showing by calling 806 410 0644
- Ensure you have the means to pay the earnest money deposit of $25,000 at the auction and close on the property within 30 days of the auction.
If you are the high bidder at the auction you will be required to put down $25,000 earnest money and sign the purchase contract immediately following the auction. You will only need to pay the $25,000 earnest money the day of the sale, not the full amount. You can use the financing of your choice and have up to 30 day from the auction to close with the full amount owed. This sale is NOT contingent on financing so make absolutely sure that you only bid up to the amount that you are pre-approved for.
- Registering to bid onsite at the auction, registration opens 2 hrs prior to the auction.
The auction process is a fast process of bidding. The auction will typically take only about 3 minutes to complete. You have to be onsite to bid unless you have made arrangements with Caprock Auctions to be able to bid by proxy.
Immediately following the auction the high bidder will deposit $25,000 earnest money and sign the purchase agreement. The high bidder must then take the necessary steps to close on the property within 30 days of the auction.
The property is being sold "AS IS, WHERE IS" with no contingencies.
Good Luck and let us know if you have any questions! 806 410 0644