Georgetown Duplexes | Value-Add Multifamily in Austin MSA

Starting Bid $450,000

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.

Auctioneer License: 10344

• America's #1 Boomtown — Georgetown, TX: Georgetown ranks No. 1 nationally with 7.65% annual population growth and a 67.46% increase since 2020.
• 14-Unit Classic Multifamily, All 2BD/1BA: Eight single-story buildings on 0.96 acres deliver a uniform 840 SF, 2-bed/1-bath unit mix built in 1974.
• Rents $100+ Below Market with Upside to $1,250: Current scheduled rents average $1,157/unit versus a market potential of $1,250, per the proforma.
• Year 1 NOI of $108,637 with 91% Occupancy: Stabilized proforma projects $193,712 EGI and a net operating income of $108,637 at market rents.
• Adjacent to Commons at Rivery Mixed-Use Project: Neighboring development will deliver 300 luxury apartments and 45,000 SF of retail with an open plaza.
• Multiple Untapped Revenue Streams Available: Laundry facility, pet policy, and cable/internet packages represent immediate, low-cost income additions.

RealINSIGHT Marketplace, in partnership with Marcus & Millichap, is pleased to present 1500 Park Lane, a 14-unit garden-style multifamily property in Georgetown, Texas — recently ranked America's #1 Boomtown. Built in 1974, the property consists of eight single-story buildings on 0.96 acres, comprising an all-2-bedroom/1-bathroom unit mix averaging 840 SF each. All units are in classic, unrenovated condition, with current rents averaging $1,157/month — more than $100 below comparable properties — presenting a clear value-add opportunity through interior upgrades, implementation of a pet policy, on-site laundry, and cable/internet packages. Recent capital improvements include new roofs, electrical panels, and parking areas. The property is directly adjacent to The Commons at Rivery, a mixed-use development delivering 300 luxury units and 45,000 SF of retail. Located one mile from Downtown Georgetown and 1.7 miles from Southwestern University, with immediate access to I-35 and Williams Drive (27,000+ VPD), the asset sits in the heart of one of Central Texas' most dynamic growth corridors. The property is offered free and clear of existing financing.