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Hidden Gardens 5606 N Lamar Blvd 71 Unit Apartment Building For Sale Austin, TX 78751
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity- Centrally Located, Under Performing Asset
- Rent in the Central Submarket are on Average 43% Higher Than Rents at Hidden Gardens
- Low Density, providing Upside With Favorable Zoning for Redevelopment
- Out-of-State Owner Since 2019 With Recent Management Change
- Low Basis – asking only ~ $110K per unit
- Option to Buy Individually or Together with Park Plaza Apartments (829 Park Plaza Dr, 78753)
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 2.12 AC |
| No. Units | 71 | Building Size | 53,440 SF |
| Property Type | Multifamily | Average Occupancy | 80% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1972 |
| Building Class | C | Parking Ratio | 2.19/1,000 SF |
| Sale Type | Investment |
| No. Units | 71 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.12 AC |
| Building Size | 53,440 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2.19/1,000 SF |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Laundry Service
- Maintenance on site
- Individual Leases Available
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Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 228895 | Improvements Assessment | $3,558,668 CAD |
| Land Assessment | $8,314,374 CAD | Total Assessment | $11,873,042 CAD |
PROPERTY TAXES
Parcel Number
228895
Land Assessment
$8,314,374 CAD
Improvements Assessment
$3,558,668 CAD
Total Assessment
$11,873,042 CAD
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Hidden Gardens | 5606 N Lamar Blvd
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