Residences at the Triangle-2023 Sale_Property for Sale

4600 W Guadalupe St, Austin, TX, 78751, US

Residences at the Triangle-2023 Sale

Asset Description

Residences at The Triangle is a six-building, 529-unit

urban community which anchors the thriving 23.15-acre, Triangle mixed-use development. Situated just north of Downtown at the confluence of Austin’s two main north-south roadways, Lamar Boulevard and Guadalupe Street, The Triangle is an Austin staple and provides an irreplaceable infill location with direct access to the city’s key business centers and main economic drivers. Constructed in three phases from 2006 to 2008, the spacious apartments are complemented by a best-in-class amenity set and 111,000 SF of ground floor retail that feature a variety of popular local and national retailers.

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Attributes

Number of units

529 units

Occupancy

93.00%

Year built

2006

Building area Gross

51,164 m²

Media

Investment Highlights

PREMIER LIVE WORK PLAY ECOSYSTEM

The Triangle mixed-use development has joined the Domain, Mueller, and Seaholm as a popular destination for Austinites, visitors, and Millennials as the “live, work, play” spirit continues to permeate the city. Centrally located between the Domain, Highland, and Downtown, the Triangle is situated at the epicenter of growth in the top 18-hour city in the U.S.

PROVEN VALUE-ADD OPPORTUNITY OF SCALE

Constructed in three phases from 2006 to 2008, the Triangle presents investors an intriguing value-add opportunity. Current ownership has proven out a value-add program, renovating 64 of 529 units which are garnering healthy premiums. These upgraded units include stainless steel appliances, Nest thermostats, updated fixtures, new paint, tile backsplashes, LED lightbulbs and restaurant-style undermount sinks. With 465 units left to renovate, the Triangle leaves new investors plenty of “meat-on-the-bone”, with a potential 10-15% rent increases across many floorplans.