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6300 S Congress Ave, Austin...

Vista Investment Group Purchases Property At 6300 S Congress Ave Austin Represented By Kent Myers
SOLDMultiFamily

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

Will Balthrope

Institutional Property Advisors

Broker

$503.3M

vol

89 deals

Broker
Vista Investment Group
Vista Investment GroupBuyer

Austin MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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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