Edge on South Congress - Austin, TX

DESCRIPTION & STRATEGY:

The Edge on South Congress is a boutique 35-unit apartment community that is located in South Austin with excellent visibility from South Congress Avenue. The property is 100% occupied and has been owned and self-managed by an individual investor for 22 years. It is significantly under managed with unrealized embedded equity.

There is significant upside with new ownership and active management to implement a new strategy that will reposition the property to create new a product to capture market rents and maximize value.

A pre-emptive offer was made and the property was put under contract before it was marketed for sale.

This underperforming asset was acquired with private capital and fixed rate financing from Fannie Mae.

ADDRESS:

6812 S Congress Ave,
Austin, TX

PROPERTY TYPE:

Multifamily

SIZE:

35 Units