5020 Manor Road, Austin, TX

Multi-family for Sale - 2.09 acres

Longbow Real Estate Group

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Agent Info

NameNick Nelson, CCIM
CompanyLongbow Real Estate Group

Property Info

CIMLS #1027168
Location5020 Manor Road
Austin TX 78723
Last UpdatedSeptember 24th, 2018
Land2.09 acres
DemographicsView data


Property Description

Mueller Gardens is a 62 unit townhome style apartment community.

Extensive renovation of the interior, exterior, and overall site is near completion. 20 units have obtained a temporary certificate of occupancy from the City of Austin. Construction is on schedule to complete the remaining 42 units in November 2018.

Convenient access to many of the major employers in Austin, entertainment, and active nightlife.

3 minutes to Mueller

12-15 minutes to The Domain

15 minutes to downtown Austin

Based on research, this area experienced an average annual rent growth of 6% over the last 10 years.

The discounted cash flow analysis indicates a 16.3% IRR after tax based on a 10 year holding period.

View the flyer here: http://longbowre.com/wp-content/uploads/2018/09/Mueller%20Gardens%20Offering%20Memorandum.pdf