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Northgate Terrace Apartments (48 Units) in Austin, TX Closed Feb. 12, 2016

AUSTIN, TX – A California investor purchased Northgate Terrace Apartments Feb. 12th. The property traded at an undisclosed price. Ellen Muskin and Daniel Elam of Muskin Commercial, LLC represented the Austin Sellers in this transaction.

Northgate Terrace is located at 1814 Colony Creek Drive, in North Central Austin. The property is in very close proximity to three major highways (Hwy 183, IH-35 and MoPac), primary employers and national retailers. It is seven miles north of downtown Austin and close to Dell, IBM, National Instruments and Samsung, with two bus lines providing easy access to all parts of Austin. Northgate Terrace features attractive architectural styling, red brick veneer exterior, wrought iron perimeter fencing, swimming pool, native Texas landscaping, creekside settings and picnic / bar-b-que area for the enjoyment of tenants. Other amenities include private patios, small bar areas in the kitchens, built-in bookshelves and ceiling fans in bedrooms. The property is close to Quail Creek Park which is a wonderful outdoor space for residents. It is about one mile away from the newly built North Austin YMCA and the recently constructed, state-of-the-art Padron Elementary School. The Buyer has retained Arbor Property Management of Austin for management.

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"I have always enjoyed working with Ellen on past transactions and hope to do so again. In fact, in the 30+ years of my property management career, I have found Ellen to be the most experienced broker in multifamily investments in town and certainly the most amicable."