512-343-2700
, Austin, TX for Sale
Multi-Family - FOR SALE
1/40
null | Request Cap Rate

Cheshire Gardens & Lynridge Apartments
Austin, TX
Cherry Creek


HIGHLIGHTS

  • Strong Value-Add Opportunity to enhance NOI through a unit rehab program, including bringing in additional income from 3 employee occupied units
  • CHDO Eligible due to long-term owner, who has been self-managing from out of state
  • Tremendous Visibility along W. William Cannon Dr (30,091 +/- cars per day) and on Hwy 183 (101,658 +/- cars per day) according to TxDOT
  • Convenient Access to Public Transportation with adjacent Bus Stops and New Toll Roads
  • Onsite Leasing Office, Swimming Pool, Laundry Rooms, Dog Stations and Picnic/Grill Areas

OVERVIEW

Cheshire Gardens is a 58-unit garden-style apartment community located in South Austin. It is situated just west of Manchaca Road, and conveniently located between Interstate Highway-35 and MoPac Expressway. William Cannon Drive is an East/West thoroughfare and well known as one of the more popular submarkets in the Austin MSA. The property boasts spacious units including Studio (400 +/- SF), 1 Bed / 1 Bath (633 +/- SF), and 2 Bed / 1 Bath (851 +/- SF) floorplans. A recently renovated laundry facility is located on-site and is owner operated. Lynridge Apartments is a 22-unit complex located in the University Hills neighborhood in Northeast Austin just inside Highway 183 and has easy access to Interstate Highway 35, Highway 290, and the 130 Toll Road. This area benefits from the Mueller development, which is only 3 miles south of the property. This complex consists of a single two-story building with twenty-two 1 Bed / 1 Bath units (488 +/- SF), and an on-site laundry facility. Residents live comfortably surrounded by mature trees and bushes, as well as a privacy fence and sound retaining wall separating the property from the frontage road.

ASK ABOUT THIS PROPERTY

Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

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

Daniel ElamMuskin | Elam GroupMore Info
512-343-2700

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