Multifamily
Ektom Apartments
2604 Ektom Dr, Austin, TX 78745
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is please to present the exclusive listing of Ektom Apartments.
Built in 1974 and 1982, Ektom Apartments sits on 0.47 acres, and is conveniently located near the intersection of Highway 290, Loop 360, and Mopac Expressway in Austin, Texas.
The property is only six miles of Downtown, and within walking distance to assigned public schools and major retailers including Central Market, Home Depot,
The 12-unit community offers affordable living in one of Texas’ fastest growing regions. The Austin MSA is expected to grow an 8.5% over the next five years, and the median home value has risen to $355,224 in 2023.
Ektom Apartments presents the opportunity to create significant value with modern upgrades, continuation of utility reimbursement, implementation of cable / internet services, and creation of laundry facility.
Ektom Apartments is offered ‘free and clear’ which provides an excellent opportunity to take advantage of historically low rates.
Ektom Apartments
Investment Highlights
- INFILL LOCATION & CONVENIENT ACCESSIBILITY Located along one of the fastest-growing economic corridors in Texas, Ektom Apartments is located just six miles south of Downtown Austin. The property is co
- STRONG DEMOGRAPHICS & MARKET FUNDAMENTALS Since 2000, the population has grown 35.5 percent and is expected to grow an additional 8.5 percent over the next five years. The average household income wit
- WATER CONSERVATION & RATIO UTILITY BILLING SYSTEM (RUBS) New ownership can realize substantial savings (30 percent or greater) through the reduction of utility expenses. By continuing to implement the
- LEASING & MANAGEMENT UPSIDE New ownership has the opportunity to realize immediate gains through professional marketing, management, and leasing to increase value and investment returns. Additionally, the opportunity exists to raise rents to market levels and create significant value with unit upgrades.
- NEW REVENUE STREAMS & AMENITIES Ektom Apartments offers substantial opportunities to generate additional income and value by offering bundled cable/internet services at a net monthly income of $40 per unit. Additionally, new ownership has the opportunity to convert the building storage into an on-site laundry facility for increased revenue.
- DISCOUNT TO REPLACEMENT COST & SALES COMPS Ektom Apartments is offered at a significant discount to replacement costs and recent sales comparables. Over the last twelve months, land values and building costs have increased dramatically, and overall market sales have averaged approximately $200,000 per unit.
Exclusively Listed By
Investment Highlights
- INFILL LOCATION & CONVENIENT ACCESSIBILITY Located along one of the fastest-growing economic corridors in Texas, Ektom Apartments is located just six miles south of Downtown Austin. The property is co
- STRONG DEMOGRAPHICS & MARKET FUNDAMENTALS Since 2000, the population has grown 35.5 percent and is expected to grow an additional 8.5 percent over the next five years. The average household income wit
- WATER CONSERVATION & RATIO UTILITY BILLING SYSTEM (RUBS) New ownership can realize substantial savings (30 percent or greater) through the reduction of utility expenses. By continuing to implement the
- LEASING & MANAGEMENT UPSIDE New ownership has the opportunity to realize immediate gains through professional marketing, management, and leasing to increase value and investment returns. Additionally, the opportunity exists to raise rents to market levels and create significant value with unit upgrades.
- NEW REVENUE STREAMS & AMENITIES Ektom Apartments offers substantial opportunities to generate additional income and value by offering bundled cable/internet services at a net monthly income of $40 per unit. Additionally, new ownership has the opportunity to convert the building storage into an on-site laundry facility for increased revenue.
- DISCOUNT TO REPLACEMENT COST & SALES COMPS Ektom Apartments is offered at a significant discount to replacement costs and recent sales comparables. Over the last twelve months, land values and building costs have increased dramatically, and overall market sales have averaged approximately $200,000 per unit.
Investment Overview
Marcus & Millichap is please to present the exclusive listing of Ektom Apartments. Built in 1974 and 1982, Ektom Apartments sits on 0.47 acres, and is conveniently located near the intersection of Highway 290, Loop 360, and Mopac Expressway in Austin, Texas. The property is only six miles of Downtown, and within walking distance to assigned public schools and major retailers including Central Market, Home Depot, The 12-unit community offers affordable living in one of Texas’ fastest growing regions. The Austin MSA is expected to grow an 8.5% over the next five years, and the median home value has risen to $355,224 in 2023. Ektom Apartments presents the opportunity to create significant value with modern upgrades, continuation of utility reimbursement, implementation of cable / internet services, and creation of laundry facility. Ektom Apartments is offered ‘free and clear’ which provides an excellent opportunity to take advantage of historically low rates.
Exclusively Listed By
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