A new apartment complex has been put on the market as exclusive listing for Marcus & Millichap on a cash-to-existing-note basis. Lotus Village, built on 8.1 acres at 300 Ferguson Drive in north central Austin in 2012, has 222 units and is currently at 98 percent occupancy.
“This infill asset is the premier apartment community in its submarket and features an upscale urban atmosphere,” said Kent Myers in a press release. Myers and Joe James are senior associates in the Austin office of Marcus & Millichap representing the seller.
Lotus Village offers apartments of one, two, and three bedrooms, ranging in size from 700 square feet to 1,239 square feet. Unit amenities feature faux-wood flooring, built-in computer desks and built-in microwave, black appliances, nine-foot ceilings, linen closets, private patios and balconies, and under-kitchen cabinet lighting packages. Detached garages and covered parking are also available in select homes, and all units have full-size washer and dryers.
Community amenities include resort style swimming pool with hot tub/spa and Wi-Fi that serves the clubhouse and the business center, outdoor barbecue grills, elevators, 24-hour fitness center, and controlled access security gates.
Photo courtesy of Lotus Village