The Place at West Village Apartments (255 Units) in Austin, TX Closed Oct. 28, 2016
AUSTIN, TX – 739 W. William Cannon, LLC purchased The Place at West Village Apartments Oct. 28, 2016 from Cooper’s Hill Apartments, LLLP. The property traded at an undisclosed price. Ellen Muskin and Daniel Elam of Muskin Commercial, LLC represented the Sellers in this transaction.
Located at 739 W. William Cannon Drive, The Place at West Village is situated in the South submarket, one of the most exciting submarkets in the Austin MSA. This area benefits greatly from the new developments to the north in the eclectic 78704 zip code, and from the south, home of South Park Meadows retail development, the Wildflower and numerous new SF developments. The property is at the quadrant of West William Cannon Dr. and South First Street, conveniently situated between IH-35 and Mopac. Downtown is approximately 5 miles to the north, which can easily be accessed without highway use. The University of Texas, one of the largest campuses in the nation with 50,000+ students, is located about 7 miles north, and St. Edward’s University only 3.8 miles away.
This 255-unit community has an average unit size of 699+/- square feet, with a wide variety of 1BR and 2BR units. The roofs are pitched composition shingle. The exteriors are a combination of brick, hardiboard and wood exteriors. Located on 8.7820+/- acres, the community consists of 16 two-story buildings with individual HVAC and two central gas boilers. All units enjoy wood-look plank flooring throughout the kitchens and bathrooms, with the first floor offering additional faux flooring in the living rooms. Kitchens feature mainly black appliance packages, breakfast bars, updated lighting and hardware, pantries and some upgraded with modern painted kitchen cabinetry. Leasing efforts are enhanced by a fitness center, elegant swimming pool, two clothes care facilities, some units with W / D connections and a dog park. Google fiber cable will soon be available at the property for residents. Major recent renovations included some new roofs, full exterior painting and Hardiboard siding and the parking lot was surface coated and striped.
Financing for the purchase was provided by IBC Bank, of Austin, Texas.Posted on Friday, November 18, 2016