This 16 unit apartment complex is located in South Austin, TX. Manchaca Road in the “78704” zip code is known for being the most desired street and zip code in the Austin apartment market. The face of this area has changed from lower income family to upscale and young/artistic community, most of which has occurred within the past 1-2 years. Close to Zilker Park and 5 miles from the University of Texas, the property sits on .75 gross acres and is comprised of four separate buildings. It was acquired in 2006 as an underutilized property and the objective was to utilize our management team, change the tenancy by increasing the rents, and change the look and feel of the property by making capital improvements to the structure and landscape areas. The property is currently 100% leased, a first in its 30-year history. In addition, there are roughly four condo conversion projects within a two-mile radius of our subject property that have been selling for roughly $200 psf.