Garden Path Apartments For Sale in North Austin

The James-Myers Multifamily Team of Marcus & Millichap Announces the Offering of Recently Upgraded North Austin Apartments

Garden-Path-Apartments-for-sale-james-myers-multifamily_4589-800

Garden Path, a recently upgraded infill asset off of Research Boulevard (Highway 183) in north Austin, Texas, is available on a cash to existing note basis.

AUSTIN, TEXAS – Garden Path is an excellently maintained 44-unit apartment building located right off of Highway 183 in north Austin. The property offers 30 one-bedroom and 14 two-bedroom units. Residents of Garden Path enjoy access to a nicely maintained swimming pool, onsite laundry facilities, and a central courtyard equipped with barbecue pits and a playground. The property was constructed in 1984 and has a two-story brick/wood siding exterior and pitched roofs. Historically, Garden Path has maintained a strong occupancy rate, at 95% and above.

The North Central Austin apartment submarket showed a six percent growth through 2014. This growth is evident in several surrounding properties which have been upgraded and have achieved substantial increases in rents. Overall effective rents in Austin are projected to grow by another six percent in 2015.

Convenient Access to Major Highways: Garden Path is located just one block north of Highway 183 and one block west of Interstate 35, two major traffic arteries that provide excellent mobility throughout Austin. This convenient location allows residents easy access to Austin’s various employment centers, shopping, schools, and restaurants. Garden Path is located within close proximity to the Arboretum and Arboretum Market, the Domain, Gateway Shopping Center, and Arbor Walk, as well as a number of movie theaters.

Convenient Location for Commuters: Nearby employers include but are not limited to Dell Computers, Seton Hospital Northwest, North Austin Diagnostic Center, IBM, Balcones Research Center, MCC, Time Warner, Freescale, National Instruments, State Farm Insurance, HEB Grocery, Walmart, Sears, Lowe’s, Home Depot, Costco, Sam’s Wholesale Club, Super Target, and Whole Foods. Residents of Garden Path benefit from the property’s convenient location offering mobility through nearby access to Highway 183, Mopac, Interstate 35, and Capital of Texas Highway (Loop 360).

Cash to Existing Note: This investment opportunity is being offered on a cash to existing note basis.

For the complete Offering Memorandum, please sign the Garden Path  Confidentiality Agreement, or read more at our website.

Joe James | jjames@marcusmillichap.com | 512-338-7852

Kent Myers | kmyers@marcusmillichap.com | 512-338-7853

J.R. Ellis | j.r.ellis@marcusmillichap.com | 512-338-7832

Follow us on Twitter @JamesMyersMF for the latest market news and activity.

The James-Myers Multifamily Team of Marcus & Millichap has participated in the sale of more than 63 transactions since 2007 totaling over 13,000 units and more than $730 Million in sales across Texas.  Contact us for acquisitions, dispositions, property evaluations or market information for your Texas apartments.

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