Courtyard Condos
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Property Overview
The Opportunity
Conversion of a 67-unit multifamily complex to condominiums. The process included full interior and minor exterior renovations. Sales velocity in condominium sales is paramount. Units were priced below market resulting in all 67 units being placed under contract in 6 months.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
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Related Articles
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Investment Summary
Property Type:
Multifamily
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Strategy:
Multifamily to Condo Conversion
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Address:
300 Crockett St #221, Austin, TX 78704
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Investment Date:
March 1, 2006
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Est. Hold Period:
1.3 Years
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Total Capitalization:
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Loan To Cost Ratio:
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Est. Exit Cap Rate:
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Investor Preferred Return:
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Property Type:
Multifamily
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Strategy:
Multifamily to Condo Conversion
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Address:
300 Crockett St #221, Austin, TX 78704
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Investment Date:
March 1, 2006
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Disposition Date:
July 1, 2007
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Hold Period:
1.3 Years
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Realized IRR:
182.70%
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Equity Multiple:
2.94 X
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Total Capitalization:
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Loan To Cost Ratio:
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Exit Cap Rate:
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Realized Investor Return:
N/A
Property Type:
Multifamily
N/A
Strategy:
Multifamily to Condo Conversion
N/A
Address:
300 Crockett St #221, Austin, TX 78704
N/A
Investment Date:
March 1, 2006
N/A
Disposition Date:
July 1, 2007
N/A
Hold Period:
1.3 Years
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Cap Rate at Close:
N/A
Realized Investor Return:
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