American Landmark Sells Property At 9900 McNeil Dr Austin With Seller's Rep Kent Myers
9900 McNeil Dr, Austin, TX, 78750
Units
350
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.
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