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Park Plaza Apartments 829 Park Plz 62 Unit Apartment Building For Sale Austin, TX 78753
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity - Centrally Located, Under Performing Asset
- Occupancy in the Northeast Submarket is 92% vs Park Plaza’s Occupancy of around 73%
- 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 Hidden Gardens (5606 N Lamar Blvd, 78751)
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 3.02 AC |
| No. Units | 62 | Building Size | 39,455 SF |
| Property Type | Multifamily | Average Occupancy | 76% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1982 |
| Building Class | C | Parking Ratio | 3.05/1,000 SF |
| Zoning | GR | ||
| Sale Type | Investment |
| No. Units | 62 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.02 AC |
| Building Size | 39,455 SF |
| Average Occupancy | 76% |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 3.05/1,000 SF |
| Zoning | GR |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Disposal
- Fireplace
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Grill
- Maintenance on site
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PROPERTY TAXES
| Parcel Number | 239727 | Improvements Assessment | $7,549,013 CAD |
| Land Assessment | $1,327,167 CAD | Total Assessment | $8,876,179 CAD |
PROPERTY TAXES
Parcel Number
239727
Land Assessment
$1,327,167 CAD
Improvements Assessment
$7,549,013 CAD
Total Assessment
$8,876,179 CAD
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Park Plaza Apartments | 829 Park Plz
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