A 195-Unit Value-Add Opportunity Minutes From

Major Employment, Retail, and Entertainment

6 2 5 E. STASSNEY LN | AUSTIN, TX 78745

Site Information Investment Highlights
Number of Units 195
Year Built 2009 – Value-add opportunity located off South Congress, one of
Land Size 8.65 acres (22.55 units/acre) the most famous corridors in the country - vibrant nightlife, retail
NRA 182,165± SF boutiques, and live music venues
Occupancy 95.4% (as of Aug ‘21) – Situated along the booming IH-35 growth corridor; 4.7 million
Terms All Cash people live and work in the Austin/San Antonio metro area and the
nearby IH-35 has drive-by traffic of over 220,000 vehicles
Mechanical Systems – Agave at South Congress appeals to the “luxury on a budget”
Electrical Individually metered (resident pays) renter – convenient location gives tenants access to all of central
HVAC Individual climate controlled units (resident pays) Austin’s amenities, but at more affordable rental rates compared to
Hot Water Individual heaters (resident pays) the CBD and South Central Austin submarkets
Water/Sewer Master-metered (resident pays) – Favorable fundamentals: South Austin submarket rental rates and
occupancy grew 11.2% and 3.2%, respectively, in the last quarter,
Construction driving a strong submarket resurgence after the unprecedented
global pandemic (Austin Investor Interests, 2Q21)
Style Garden
Foundation Concrete post tension slab – Incredible recent leasing trend: average recent lease trade out
increases are 20%+
Exterior Hardi-plank, brick, stone
Roof Pitched – Outstanding 2009 vintage Value-add Opportunity:
Floor Covering Carpet and vinyl tile » Interior upgrade opportunities (100% of units are original
Paving Asphalt vintage) may include quartz countertops, white/gray cabinets,
Wiring Copper kitchen fixtures, designer backsplash, undermount sinks, vinyl
plank or wood flooring throughout in remaining units, upgraded
bathroom/shower fixtures and framed mirrors, home tech
Parking package, lighting package, etc.
Detached Garages 10
» Amenity enhancements may include adding pet yards and
Covered Spaces 94
electric vehicle charging stations
Surface Spaces 228
Total Spaces 344 (includes 12 handicap)

Community Features

– Luxury community offering residents a sophisticated, yet

casual atmosphere
– Swimming pool with sunbathing ledge, loungers, and
poolside cabanas
– Resort-class amenities include a courtyard with fire pit,
gas grilling stations, outdoor dining areas, bocce ball, and
beautifully landscaped grounds
– Elegant clubhouse with resident lounge and
demonstration kitchen, iCafe with Wifi and coffee bar, Interior Features
community lounge with billiards, package lockers, and
co-working spaces – Open-concept one-, two- and three-bedroom floorplans with
– 24-hour athletic center with fitness on-demand, cardio expansive 9’ ceilings and large windows
machines, free weights, individual weight machines, and – Designer carpet and vinyl plank flooring*
flat screen TVs
– Gourmet kitchens include stainless steel appliances, granite
– Pet friendly community with two on-site dog parks, dog countertops, wood cabinetry, modern hardware, and islands*
grooming station, and pet spa
– Spa-like bathrooms feature granite countertops, garden soaking
– On-site bike storage tubs, modern hardware, designer light fixtures, glass-enclosed
– Detached garages and covered parking available showers*, and dual vanities*
– Controlled access community – Full size washer/dryer sets in 100% of units
– Walkable to several nearby retailers including Chipotle, – Abundant storage space with oversized walk-in closets and private
Regal Metropolitan Theater, Fiesta Mart, Lowe’s, and patios, balconies, or yards*
Chili’s, to name a few *in select units
Area Highlights Proforma
INCOME Totals Per Unit
– Only 4.5 miles to Austin’s CBD and live music capital of the world GROSS SCHEDULED RENT1 $3,569,436 $18,305
– Strong demographics in the immediate area: Less: (Gain)/Loss-to-Lease 53,542 275
» Average household income of $96,635 within a five-mile radius GROSS POTENTIAL INCOME $3,515,894 $18,030
(U.S. Census Bureau, Aug ‘21) Less: Vacancy 178,472 915
» Single-family home prices nearby range from approximately $300K Less: Non-Revenue Units 17,847 92
to $3.8M (Redfin, Aug ‘21) Less: Collection Loss 35,694 183
» Employment base of 203,500 jobs within a five-mile radius (U.S. Less: Concessions 17,847 92
Census Bureau, Aug ‘21) TOTAL RENTAL INCOME $3,266,034 $16,749
Plus: RUBS Income2 $117,642 $603
– Minutes from popular entertainment and retail destinations:
Plus: Other Income2 153,646 788
» South Congress (SoCo) and South First (SoFi) – nationally
Plus: Garage & Carport Income3 27,921 143
known shopping and cultural districts featuring an array of eclectic
Plus: Net Cable Income4 66,690 342
shops, restaurants, boutiques, music venues, and food trucks
Plus: Trash Income3 79,947 410
» Music Lane – unique cultural destination located along SoCo TOTAL OTHER INCOME $445,846 $2,286
just 3.8 miles from Agave at South Congress; home to a diverse EFFECTIVE GROSS INCOME $3,711,880 $19,035
collection of high-end boutiques, restaurants, and hotels
» Only 2.4 miles from the brand-new 130,000 SF H-E-B Grocery EXPENSES Totals Per Unit
down the street at South Congress and Slaughter Repairs and Maintenance 175,500 900
» Southpark Meadows, 2.6 miles away from Agave at South Payroll 302,250 1,550
Congress, is South Austin’s premier destination shopping center Administrative 53,625 275
featuring 100+ stores including big box retailers, a diverse array of Marketing 97,500 500
both local and chain restaurants, ample parking, and a 14-screen Trash Removal 43,875 225
Cinemark theater; major anchor stores include Super Target, Utilities5 178,769 917
Walmart Supercenter, Sam’s Club, Best Buy, to name a few TOTAL VARIABLE EXPENSES $851,519 $4,367
– Universities within close proximity include St. Edwards (~4,000 Taxes6 901,799 4,625
enrolled), The University of Texas at Austin (50,500 enrolled), and the Insurance 68,250 350
exclusive Acton MBA School Management Fee 92,797 476
TOTAL OPERATING EXPENSES $1,914,365 $9,817
– Proximity to major employment and anticipated projects:
Plus: Capital Reserves7 39,000 200
» Nearby employers include the IRS, Deloitte, OJO Labs, St. TOTAL EXPENSES $1,953,365 $10,017
Edward’s University, AMD, Yeti, SolarWinds, Facebook, Google,
NET OPERATING INCOME $1,758,515 $9,018
the State of Texas government, among others
1. Gross Scheduled Rent grown 0% from in-place market rents as of 8/4/21 rent roll
» Approximately 1 mile from St. Elmo’s Market, a $250M mixed- 2. RUBS & Other Income grown 3% from Jul’21 T12 Actuals
3. Garage & Carport and Trash Income grown 3% from Jul’21 T12 Actuals
use project spanning 12 acres currently under construction; plans 4. Net Cable Income assumes $30/month net income at 95% occupancy
call for an indoor-outdoor market and ~225,000 SF of creative 5.
6.
Adjusted Utilities grown 3% from Jul’21 T12 Actuals
Taxes based off of the 2021 mill rate of $2.226665 per $100
office, hotel, and multifamily 7. Numbers do not reflect actual expense

» Located 4 miles from Oracle’s Waterfront campus (~1M SF);

±10,000 employees in the future
» River Park is a 109-acre master-planned community 3.8 miles
from Agave at South Congress; the 10M SF transit-oriented
development (T.O.D.) will span over 24 urban blocks that will
include office, retail, and 30+ acres of greenspace
» Approximately 4 miles from Garza Ranch, a 34-acre mixed-use
development to include an Aloft boutique hotel, residential space,
400,000 SF of office space, and a two-acre public commons;
home of global technology company SHI International
» Tesla’s $1.1B gigafactory is under construction roughly 9 miles
from Agave at South Congress; the manufacturing facility has
potential to employ up to 15,000 people
» Project Connect’s planned light rail Orange Line will connect
north and south Austin; the south section will run down South
Congress from Oltorf Ln to Slaughter Ln, with a station proposed
at Stassney Ln (walking distance of Agave at South Congress)
» Outdoor recreation nearby includes Williamson Creek # of Size Mkt Mkt
Greenbelt, Roy Kizer Golf Course, Onion Creek Metropolitan Park, Unit Type Units (SF) Rent/Unit Rent/SF
McKinney Falls State Park, Barton Creek Greenbelt, Zilker Park, 1BR / 1 BA (ps.a1) 24 700 $1,245 $1.78
Auditorium Shores, and Lady Bird Lake
1BR / 1 BA (ps.a2) 49 789 $1,367 $1.73
– Over the past five years, Austin’s trailing 12-month employment
growth has seen an annual average increase of 2.80% per year 1BR / 1 BA (ps.a3) 12 898 $1,589 $1.77
(USBLS, May ‘21) 2BR / 2 BA (ps.b1) 60 980 $1,577 $1.61
– Austin MSA in-migration of 67,197 from Jul ’19 to Jul ’20 – the fastest 2BR / 2 BA (ps.b2) 38 1,084 $1,628 $1.50
growth of any metro with at least 1M residents (U.S. Census Bureau,
3BR / 2 BA (ps.c1) 12 1,328 $2,084 $1.57
May ’21)
– Austin ranked top 5 “Best City to Live in the U.S.” for the fifth AVG. / TOTAL 195 934 $1,525 $1.63
consecutive year (U.S. World & News Report, Apr ‘21) Owner and Broker make no representation as to the actual square footage of any units.
Prospective purchasers are encouraged to independently confirm the measurement of all units.
 The University of
Texas at Austin
H ST
Lost Creek 2244 E 12T
Country Club 969
Barton Creek Square Mall Zilker
Park DOWNTOWN AUSTIN
360 1 Employment base of 105,000+
Auditorium jobs; population of approx
Barton Creek Shores 11,000; ranked #1 “Best City to
Greenbelt 35 Live in U.S.” 183 John Trevino Jr.
Metro Park

Brodie Oaks
VD
SO
UT BL SOLA, SOFI, AND SOCO ORACLE HEADQUARTERS
A R
HW
ES AM DISTRICTS 560,000 SF, Ph I campus on 27-acres is
TP
KW SL now complete; employs 3,000 with
Nationally known shopping and
Y room for up to 10,000 at full build out
cultural districts featuring an array of
Shops at Arbor Trails eclectic shops, restaurants, boutiques,
music venues, and food trucks 973
ER
Sunset Valley Retail EO IVE
LT RS
St. Edward’s O RF ID TESLA GIGAFACTORY
290 ED
University ST R
$1.1B gigafactory under

VE
construction on 2,500+ acres

SA
owned by Tesla; the initial 8M SF

ST

ES
GARZA RANCH manufacturing facility will have the

GR
capacity to employ up to 10,000 at

ST
34-acre planned mixed-use
SAINT ELMO MARKET DISTRICT 71 completion; estimated that 15,000

S1

ON
project to include an Aloft
12-acre planned mixed-use development to jobs could be created in the region

SC
hotel, residential space,
include: a 40,000 SF renovated warehouse as a result of this expansion
400,000 SF of office space,
and a 2-acre public commons re-envisioned as public market with retail,
WW creative office space, condos, and hotel
I LL
IAM
CA 71
WY
LN

NN
PK
RD

ON AUSTIN-BERGSTROM
DR LS
IE

1 E STASSN AL INTERNATIONAL AIRPORT

CA
OD

EY LN YF
NE
HA
BR

KIN
MC
NC

W
ME

SL
AU
GH
Lady Bird Johnson TE Southpark Meadows
Wildflower Center RL
N Roy Kizer
McKinney Falls BU
Golf Course RE
State Park LS
183 ON PE
RD AR
130
CE
Onion Creek LN
Onion Creek
Metro Park Greenbelt
Bauerle
Ranch Park 812

RD
AM
Mary Moore 35
45 Searight Metro Park CIRCUIT OF THE AMERICAS

LL
KE
Planned 1,155-acre mixed-use development
to include an 11-story hotel, a 100,000 SF
OL

indoor water park, children’s amusement

DL

Onion Creek park; future plans to create indoor and

OC

1626 Club outdoor sports complexes, condos, retail

KH

space and a private motorsports club

AR

Circuit of
TR

The Americas
D

973
ESTANCIA HILL COUNTRY
1625
600-acre planned mixed-use
development featuring retail, dining,
35 45
entertainment, recreation, 130 acres of
parks and greenspace, and 3.4M SF of 1327 Texas Disposal Systems
office space, a hospital, and a hotel Exotic Game Ranch
Please visit our website for more information: V I R TUAL TOU RS
183 AVA I L A B L E
http://arausa.listinglab.com/AgaveatSouthCongress
BUDA AMAZON DELIVERY CENTER
18-acre site of future delivery center, a
Population of nearly 305,000 SF facility in Buda; expected to
1626 17,000, a 132% generate hundreds of jobs
increase from 2010 45
For information, please contact:
Baylor Scott & White
Investment Sales Medical Center

Patton Jones Andrew Dickson Jim Young Matt Michelson

Vice Chairman Managing Director Senior Managing Director Managing Director
t 512-637-1213 t 512-637-1237 t 512-637-1265 t 512-635-0420
patton.jones@nmrk.com andrew.dickson@nmrk.com jim.young@nmrk.com matt.michelson@nmrk.com

Debt & Structured Finance

Matt Greer
Vice Chairman
t 512-637-1236
matt.greer@nmrk.com
nmrk.com

This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is
made as to the accuracy. Further, no warranties or representation shall be made by Newmark and/or its agents, representatives or affiliates regarding oral statements
which have been made in the discussion of the above property. This presentation, prepared by Newmark was sent to the recipient under the assumption that s/ he is
a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined
by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.