GALEWOOD VILLAGE APARTMENTS. ASKING PRICE Market Pricing ±1.17 ACRES ±22,328 SF TOTAL

Transcription

1 GALEWOOD VILLAGE APARTMENTS ASKING PRICE Market Pricing ±1.17 ACRES ±22,328 SF TOTAL 1

2 CONTENTS OVERVIEW PROPERTY PHOTOS UNIT PROFILES AERIAL MAP STREET MAP FINANCIAL SUMMARY RENT ROLL COMMUNITY OVERVIEW COMPANY SUMMARY

3 OVERVIEW Galewood Village is located in Austin, TX, one of the fastest growing population and employment sectors in the nation. This offering is the perfect opportunity to invest in a wellappointed multifamily asset which benefits from convenient access to all Austin has to offer via IH35. This couple with its excellent location, makes Galewood Village a premiere choice for residents to live, work, and play in this thriving community of North Austin. PROPERTY HIGHLIGHTS 48-1 Bedroom units Amenities - Clubhouse, Onsite Laundry, Limited Access Units - VPF, updated layouts/appliances 54 Parking Spaces PROPERTY SUMMARY Asking Price: Market Pricing Year Built: 1980 Lot Size: 1.17 Acres Total SF: 22,328 SF 3

4 PROPERTY PHOTOS 4

5 UNIT PROFILES Updated kitchens Tile backsplash Full size stoves (in select units) Updated Living spaces New VPF Flooring Ceiling popcorn removed Most units have updated Appliances Dishwashers, refrigerators, etc. All units have outside patio Additional storage Plenty of light through sliding glass doors and windows 5

6 AERIAL MAP 6

7 STREET MAP 7

8 FINANCIAL SUMMARY PROFORMA Current Proforma Monthly Income $32,128 $35,952 Annualized Income $385,536 $431,424 Less Vacancy (2%) <7,711> <8,628> Effective al Income $377,825 $422,796 RUBS & Other Income $40,958 $54,400 Effective Gross Income $418,783 $491,596 EXPENSES Real Estate Taxes $63,000 $65,000 Insurance $23,238 $24,000 Utilities - Electric $8,932 $10,000 Utilities - Water $41,118 $40,000 Trash, Pest, Other $10,942 $8,500 Admin / Staff $28,588 $30,000 Repairs and Maint $19,200 $20,000 Landscaping $1,200 $1,200 Management Fee $12,252 $14,747 Total Expenses $208,470 $213,447 NET INCOME $210,313 $278,149 8

9 RENT ROLL Unit # Unit Type Current Proforma Unit # Unit Type Current Proforma Unit # Unit Type Current Proforma Unit # Unit Type Current Proforma Bed $709 $ Studio $709 $ Bed $689 $ Bed $650 $ Bed $719 $ Bed $669 $ Bed $629 $ Bed $719 $ Bed $629 $ Bed $629 $ Bed $649 $ Bed $679 $ Bed $649 $ Bed $719 $ Bed $699 $ Bed $719 $ Bed $649 $ Bed $660 $ Bed $689 $ Bed $689 $ Bed $689 $ Bed $719 $ Bed $629 $ Bed $639 $ Bed $699 $ Bed $669 $ Bed $689 $ Bed $669 $ Bed $689 $ Bed $649 $ Bed $709 $ Bed $649 $ Bed $650 $ Bed $629 $ Bed $629 $ Bed $629 $ Bed $699 $ Bed $709 $ Bed $709 $ Bed $679 $ Bed $629 $ Bed $699 $ Bed $699 $ Bed $649 $ Bed $659 $ Bed $699 $ Bed $650 $ Bed $629 $749 9

10 COMMUNITY OVERVIEW Galewood Village s strategic location provides immediate access to the entire Austin Metro. Fairfield Village offers residents quick and easy commutes to the University of Texas and top Austin employers such as Dell, Apple, IBM, City of Austin, Samsung, and AT&T. Galewood Village is situated in the middle of one of Austin s most dynamic submarkets, North Austin. This convenient location also provides tenants excellent access to retail and entertainment venues located at The Domain, a 300 acre retail and entertainment development located just minutes away from the asset. Given the property s location within the rapidly growing Austin market, as well as the new renovations and outstanding amenities, Galewood Village represents one of the most attractive multifamily investment opportunities currently available in the North Austin market. DEMOGRAPHICS 1 MILE 3 MILES 5 MILES POPULATION MEDIAN HH INCOME $42,238 $53,330 $64,614 MEDIAN AGE HOUSEHOLDS 9,848 62, ,454 DAILY TRAFFIC 17,568 CARS PER DAY ON STREET 10

11 FOURTH DIMENSION GROUP SUMMARY The old saying goes: "Time is money." If you've ever managed your own investment properties, you have a first-hand insight into what that one little statement means. Not only must you work to improve your profitability, you must oversee all the day-to-day contacts with tenants and vendors. In today's fast-changing markets, it takes quick action to get the most profit from potential investments and opportunities. (FDG) has experience managing single family, multi family, apartment complexes, and commercial property. We can save you time to do what you do best make money. Experienced Texas Real Estate. 30+ years in real estate. Primarily property management and investment sales. As an independent, I service a niche market in property management. I'm the person who is personally looking after your property. I'm the one who meets and qualifies all prospective tenants for your property. I'm the one who handles all the maintenance requests using other independent vendors. I find this philosophy helps to minimize costs while maximizing income and equity. 11

12 GALEWOOD VILLAGE APARTMENTS FOURTH DIMENSION GROUP 815-A BRAZOS ST. SUITE #503 AUSTIN, TX