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31390992
31391152

2 Locations

DE
TX 616676
Muskin | Elam Group
Listed by Muskin | Elam Group
Unpriced
68 days on market
Updated 30 days ago

Alma North Plaza I & II

Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 167,148
Units 203
Year Built 1985 / 1972
Acreage 8.740

Multifamily | 203 Units

Marketing description

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.

Investment 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.

  • Downtown Reach, Only 6.3 miles from the Austin CBD, offering seamless commutes via major regional arteries.

Listing Contacts

DE
TX 616676
Muskin | Elam Group
Listed by Muskin | Elam Group

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