512-343-2700
829 Park Plz, Austin, TX for Sale
Apartments - FOR SALE
1/23
null | Request Cap Rate

829 Park Plz
Austin, TX 78753
Heritage Hills


HIGHLIGHTS

  • Value-Add Opportunity - Centrally Located, Under Performing Asset
  • Out-of-State Owner Since 2019 With Recent Management Change
  • Occupancy in the Northeast Submarket is 92% vs Park Plaza’s Occupancy of around 73%
  • Low Basis – asking only ~ $110K per unit
  • Low Density, providing Upside With Favorable Zoning for Redevelopment

OVERVIEW

Park Plaza is being offered together or individually with Hidden Gardens (5606 N Lamar Blvd in Austin, Texas). Park Plaza consists of 62 units and is located at 829 Park Plaza Dr in Austin, Texas, on a large, low density site just over 3 acres. Community amenities include a swimming pool, on-site laundry, park and playground with BBQ & picnic area, and ample surface parking. Units feature gas stoves, walk-in closets, and vaulted ceilings. Park Plaza is located in North Austin with convenient access to I-35, as well as nearby schools, parks, and employers in the Domain and North East Austin. The property has been well maintained and can continue to provide much needed workforce housing for years to come.

FOR SALE DETAILS

PRICE

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# OF UNITS

62

CAP RATE

Request Cap Rate

% LEASED

76%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Plaza Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

124

LAND DETAILS

LAND ACRES

3.02 AC

LAND SF

131,451 SF

ZONING

GR

APN/PARCEL ID

239727

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.