Property Overview - The Rail is a 113 unit apartment property located just 1 block from the beautiful San Gabriel river. The property is located just outside of Austin, Texas. There is easy access to Austin and Round Rock via I-45. The asset was built in 1986. The property has undergone an interior and exterior rehab. The Rail at Georgetown is next to beautiful Kelley Park and just blocks from the town square, grocery stores, shopping and entertainment. The property consists of one and two bedroom apartment homes with unique floor plans designed to provide easy living through maximum efficiency, and small building groups make parking that's just steps to the front door. Residents benefit from options like valet trash, and in-unit washer/dryer. Pets are welcome and there is a Rail Yard Bark Park! The community is within close proximity to a GoGeo transit stop, 1.3 miles from Southwestern University and St. David's Georgetown Hospital, with easy access to Interstate 35, Round Rock, The Domain, and Downtown Austin.
- The property sits on 3 tracts of land. Each tract has its own address per the county appraisal district. Tract one located on 15th street has 66 rental units and the office and laudry room are located on this tract, tract two has 32 units and is located on 13th street, tract three has 13 units and is located on 14th street.
Offered "All Cash" Buyer to obtain new financing. There is no assumable debt in place, allowing for unrestricted financing options to a buyer.
Upside Potentital - Per owner, 54 units have received a total rehab, of which 41 are 1 BR-1 BA and 13 are 2 BR-1 Ba. Several buildings have also received new siding and paint. A new owner could complete the interior Rehab for additional upside. Also there are two units of the 113 units that are being used as administrative units. A new owner could move the office unit to the Rail Car and the laundry room unit to the storage area for additional rental income.