Spring Valley Apartments - Austin, TX

DESCRIPTION & STRATEGY:

Spring Valley Apartments is a 230 unit apartment complex located in South Austin. The property was built in 2001 and has large units averaging 1,000 square feet with 2×2, 3×2 and 4×2 floor plans.  It had been self-managed for 17 years and offers significant management and repositioning opportunities. A land use restriction agreement was recently terminated and rents are significantly below market. The business plan will include re-branding, enhancing the property’s curb appeal, interior unit renovations, LED lighting to reduce utilities, and implementing professional property management.

The property was not actively marketed for sale. This undermanaged asset was acquired with a private equity partner and a balance sheet bridge lender.

 

ADDRESS:

2302 E. William Cannon Dr.,
Austin, TX

PROPERTY TYPE:

Multifamily

SIZE:

230 Units