Essex Realty Group Acquires Multifamily Property In Austin For $1.04M

A multifamily property in Austin has been sold for $1,040,000. The property, located at 516-518 Mayfield Ave & 5901-03 Race Ave, consists of 11 units with a price per unit of $94,545. The total square footage of the property is 26,256, resulting in a price per square foot of $40.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,040,000
• Units: 11
• Price Per Unit: $94,545
• Square Footage: 26,256
• Price Per Square Foot: $40

The sale was facilitated by Derek Kaptanoglu and Abe Eilian of Essex Realty Group, Inc. They represented the buyer and seller in the transaction, serving as the brokers.