Austin, Texas, August 30, 2025
News Summary
Continental Realty Group has acquired the Wildcreek Apartments in South Central Austin for $21.25 million. This multifamily community spans 14.2 acres with 232 units, currently reporting a 63% occupancy rate. The investment offers significant potential for growth through strategic improvements, positioning it as a promising opportunity within Austin’s real estate market.
Austin, Texas – Continental Realty Group, a real estate investment firm based in Colorado, has successfully acquired the Wildcreek Apartments in South Central Austin for a total of $21.25 million. The transaction was facilitated by JLL Capital Markets, which represented the seller, Bob Reeve.
Wildcreek Apartments is situated at 1511 Faro Dr. and spans 14.2 acres of land. The multifamily community comprises 232 units and offers a total area of 153,120 square feet. The properties are 1984-vintage garden-style apartments with an average unit size of 660 square feet. The available units include a mix of one- and two-bedroom layouts.
Currently, the property reports an occupancy rate of 63%, indicating potential for increased cash flow through strategic improvements. All units remain unrenovated, which presents considerable value-add opportunities for future development.
Property Features and Community Amenities
The Wildcreek Apartments community features several amenities aimed at enhancing the living experience of its residents. Notable amenities include:
- Two swimming pools
- On-site laundry facilities
- Expansive green spaces
Unit interiors currently feature open floor plans that include carpet and vinyl plank flooring, electric appliances, and individual HVAC systems. These aspects make it possible for the new owners to enhance property value through strategic renovations in unit interiors, common areas, and the implementation of improved management practices.
Investment Potential
Experts have identified Wildcreek Apartments as a unique investment opportunity within Austin’s vibrant real estate market. The property’s location places it near major employers like Oracle’s headquarters, Tesla’s Gigafactory, and Austin-Bergstrom International Airport. The introduction of nearby developments, such as River Park, is also anticipated to contribute to the property’s appreciation potential.
The investment sales and advisory team that engineered this transaction at JLL included Managing Director Ryan McBride, Senior Managing Director Robert Wooten, and Managing Director Robert Arzola. The team emphasized that Wildcreek Apartments represented a rare opportunity, given its strategic location and the strong demand for housing in the area.
About JLL Capital Markets
JLL Capital Markets operates globally, providing capital solutions for real estate investors across the world, employing over 3,000 specialists in various capacities. Their extensive expertise in the real estate sector bolsters their ability to connect buyers and sellers, ensuring transactions like that of Wildcreek Apartments proceed smoothly.
Conclusion
The acquisition of Wildcreek Apartments marks a notable transaction in Austin’s real estate landscape, highlighting opportunities for investors to leverage enhancing property values in an expanding market. This property serves as a testament to the vitality of the Austin housing market and sets the stage for potential growth in the coming years.
FAQs
What is the sale price of Wildcreek Apartments?
The Wildcreek Apartments were sold for $21.25 million.
How many units does Wildcreek Apartments have?
The property consists of 232 units.
What is the current occupancy rate of Wildcreek Apartments?
The current occupancy rate is 63%.
What amenities are offered at Wildcreek Apartments?
Amenities include two swimming pools, on-site laundry facilities, and expansive green spaces.
Who facilitated the sale of Wildcreek Apartments?
The sale was facilitated by JLL Capital Markets.
Key Features of Wildcreek Apartments
| Feature | Details |
|---|---|
| Sale Price | $21.25 million |
| Total Units | 232 |
| Acreage | 14.2 acres |
| Current Occupancy Rate | 63% |
| Average Unit Size | 660 square feet |
| Building vintage | 1984 |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- CoStar: Apartment Complex with Taste of London Trades in Austin, Texas
- Wikipedia: Austin, Texas
- Yield Pro: Wildcreek Apartments
- Google Search: Wildcreek Apartments
- IREI: Continental Realty Group Acquires Multifamily Value-Add Opportunity in South Central Austin
- Google Scholar: Continental Realty Group
- RE Journals: JLL Capital Markets Closes Sale of 232-Unit Apartment Community in Austin
- Encyclopedia Britannica: JLL Capital Markets
- Yield Pro: Tredici at Central Park
- Google News: Tredici at Central Park
Author: STAFF HERE AUSTIN WRITER
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