512-343-2700
5606 N Lamar Blvd, Austin, TX for Sale
Apartments - FOR SALE
1/22
null | Request Cap Rate

5606 N Lamar Blvd
Austin, TX 78751
Brentwood


HIGHLIGHTS

  • Value-Add Opportunity- Centrally Located, Under Performing Asset
  • Out-of-State Owner Since 2019 With Recent Management Change
  • Rent in the Central Submarket are on Average 43% Higher Than Rents at Hidden Gardens
  • Low Basis – asking only ~ $110K per unit
  • Low Density, providing Upside With Favorable Zoning for Redevelopment

OVERVIEW

Hidden Gardens is being offered together or individually with Park Plaza (829 Park Plaza Dr in Austin, Texas). Hidden Gardens Apartments is a 71 unit property located at 5606 N Lamar Blvd in Austin, Texas, with a large average unit size of 769 square feet. This 2.12 acre site with favorable zoning features a swimming pool, on-site laundry, and 108 parking spaces. Select unit interiors are finished with stainless steel appli-ances, gas stoves, silestone countertops, matte black fixtures, and luxury vinyl plank flooring. The property is uniquely positioned in a central well established neighborhood and is walking distance to McCallum High School. Convenient access to major roadways, local retail along N. Lamar Blvd and Koenig Ln, and nearby employment hubs at The Domain, The Triangle, numerous medical centers, and Downtown. This exceptional location is a prime candidate for value-add or future redevelopment.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

71

CAP RATE

Request Cap Rate

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hidden Gardens

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

108

LAND DETAILS

LAND ACRES

2.12 AC

LAND SF

92,347 SF

ZONING

-

APN/PARCEL ID

228895

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.