Vista Investment Group Purchases Property At 6300 S Congress Ave Austin Represented By Kent Myers
6300 S Congress Ave, Austin, TX, 78745
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
Vista Investment Group has acquired SoCo Apartments, a multifamily property located at 6300 S Congress Ave, Austin, TX, 78745. This property consists of 122 units built in 2004, featuring one, two, and three-bedroom layouts situated across 16 two-story buildings. Amenities at the site include a pool, clubhouse, fitness center, coffee bar, and picnic and grilling areas. The new ownership intends to invest in capital improvements to enhance unit interiors, building exteriors, and amenity spaces.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 6300 S Congress Ave, Austin, TX, 78745
- Market: Austin
- Seller's Representative: Kent Myers (Marcus & Millichap)
- Buyer: Vista Investment Group
Will Balthrope and Jordan Featherston, along with Kent Myers, played key roles in representing the undisclosed seller in this transaction through Institutional Property Advisors, a division of Marcus & Millichap.
Players
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93