Article by Gina Relva
AUSTIN, Texas – Marcus & Millichap Real EstateServices, the nation’s largest real estate investment services firm, has been awarded the exclusive listing to market for sale Lotus Village, a 222-unit apartment complex in Austin. The property is being offered on a cash-to-existing-note basis.
Joe James and Kent Myers, senior associates in Marcus & Millichap’s Austin office, are representing the seller, adeveloper.
“Constructed in 2012, Lotus Village has experienced an impressive-up and is currently at 98 percent occupancy,” says James.
“This infill asset is the premier apartment community in its submarket and features an upscale urban atmosphere,” adds Myers.
Thelocated on 8.1 acres at 300 Ferguson Drive in north central Austin.
Unit interiors at Lotus Village feature faux-wood flooring, built-in computer desks, black appliances, nine-foot ceilings, linen closets, private patios/balconies and under-kitchen-cabinet lighting packages. Every unit has a full-size washer and dryer.
Community amenities include elevators, a swimming pool, a clubhouse with business center, controlled access security gates, a hot tub, a 24-hour fitness center, detached garages and covered parking. WiFi is provided in the clubhouse and pool area.