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.
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