512-343-2700
1101 Rutland Dr, Austin, TX for Sale
Apartments - FOR SALE
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1101 Rutland Dr
Austin, TX 78758
North Austin


HIGHLIGHTS

  • Historical Occupancy around 99% with a Waitlist
  • 15+ years Continuous Ownership (good candidate to continue CHDO program)
  • Rare LIHTC Deal providing affordability in North Austin
  • New Roof (~$1M) in 2024, consistent capital improvements, and meticulously maintained
  • Low Basis and Attractive Yield investment opportunity
  • Long-term Tenants & Staff providing a genuine sense of community

OVERVIEW

Call For Offers - March 4th, 2025 Runnymede Apartments (252 units) offers a prime investment opportunity in North Austin, one of the city’s most dynamic and rapidly growing areas, and is located only 8.6± miles north of downtown. The property is meticulously maintained with its 252 units spread across twenty-four (24) two-story walk-up buildings, and offers an attractive mix of amenities including one large swimming pool, playground, 5 laundry rooms and BBQ areas. The community includes a dedicated leasing office, ensuring convenience for both residents and management. Originally built in 1972 and occupying ~14.5 acres, Runnymede offers four floorplans, including 1B/1Ba (600± SF), 2B/1Ba (767± SF), 2B/1.5Ba (775± SF), and 3B/2Ba (956± SF), with 108 of those units including patios or balconies. The affordable rent covers all utilities, ensuring one simple monthly payment. Pride of ownership is evident with the pristine landscaping and well kept grounds, which is complemented by newly replaced pitched roofs as of 2024. Each unit is equipped with individual HVAC systems, while 5 centralized boilers are located in the laundry facilities. The property uses copper wiring and PVC plumbing to minimize maintenance concerns. Additionally, the parking lot was resurfaced and restriped in 2024, with an impressive 513 spaces (more than 2 spaces per unit).

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

252

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Runnymede

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

513

LAND DETAILS

LAND ACRES

14.51 AC

LAND SF

632,056 SF

ZONING

MF2

APN/PARCEL ID

247380

ASK ABOUT THIS PROPERTY

Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

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Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.