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9900 McNeil Dr, Austin, TX,...

American Landmark Sells Property At 9900 McNeil Dr Austin With Seller's Rep Kent Myers
SOLDMultiFamily

American Landmark Sells Property At 9900 McNeil Dr Austin With Seller's Rep Kent Myers

9900 McNeil Dr, Austin, TX, 78750

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The property asset involved in the transaction is Asten at Ribelin Ranch, a 350-unit apartment community located at 9900 McNeil Dr, Austin, TX, 78750. The property spans 17.5 acres and was built in 2008. It offers one-, two-, and three-bedroom units with an average size of 979 square feet. Amenities include multiple pools and a 24-hour convenience mart.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: Unknown
  • Address: 9900 McNeil Dr, Austin, TX, 78750
  • Market: Austin
  • Seller: American Landmark
  • Seller's Representative: Kent Myers - Marcus & Millichap
  • Buyer: Unknown
  • Square Footage: 0

The deal involved Will Balthrope and Jordan Featherston from Institutional Property Advisors (IPA), a division of Marcus & Millichap, who, alongside Kent Myers, represented the seller in the transaction. The buyer remains undisclosed, as does the purchase price in this deal.

Players

Kent Myers

Marcus & Millichap

Broker

$19M

vol

13 deals

Broker
American Landmark Apartments
American Landmark ApartmentsSeller

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