512-343-2700
1007 E Rundberg Ln, Austin, TX for Sale
Apartments - FOR SALE
1/22
null | Request Cap Rate

1007 E Rundberg Ln
Austin, TX 78753
Heritage Hills


HIGHLIGHTS

  • Favorable Financing – Opportunity to leverage an assumable loan near the current balance.
  • Diverse Product Mix – Larger units with 2- and 3-bedroom floor plans, including single-story residences with private yards.
  • Strategic Value-Add – Positioned to capture upside through strengthening market fundamentals and projected rent increases.
  • Prime Connectivity – Situated in a high-demand pocket with immediate access to parks, education, and transit.
  • Portfolio Flexibility – Two distinct assets located within walking distance, allowing for versatile management or individual exit strategies.
  • The Domain & Q2 Stadium – Just 2.7 miles from Austin’s “Second Downtown” and premier entertainment district.

OVERVIEW

Alma North Plaza I is a 112-unit apartment community located at 1007 East Rundberg Lane in Austin. The property features spacious residences with an average unit size of approximately 989 square feet and is composed primarily of two- and three-bedroom floorplans, with full-size washer and dryer connections available in most units. Community amenities include a centrally located grilling and gazebo area and an on-site management and leasing office. Interiors are designed with functional layouts that include separate dining areas, extra-large patios, and cast iron tubs with ceramic tile surrounds. Alma North Plaza II is a 91-unit apartment community located at 9121 North Plaza. The property is a low-density community at 23.7 units per acre and features amenities such as perimeter fencing, BBQ grilling and pet areas, an on-site resident business center with internet access, and AISD school bus pickup and drop-off. It includes 24 one-story cottage units with private backyards, along with elevator access to upper-floor units and sprinklered buildings for safety. Apartment interiors offer spacious layouts with features like full-size washer/dryer connections in select units, solid wood cabinetry, walk-in closets, breakfast bars, and modern appliances, with residents individually metered for electricity and billed for water through a RUBS system.

FOR SALE DETAILS

PRICE

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# OF UNITS

203

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alma North Plaza I & II

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

235

LAND DETAILS

LAND ACRES

8.74 AC

LAND SF

380,714 SF

ZONING

-

APN/PARCEL ID

243473

ASK ABOUT THIS PROPERTY

Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

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Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.