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Alma North Plaza I & II 1007 E Rundberg Ln 203 Unit Apartment Building For Sale Austin, TX 78753
Investment Highlights
- Favorable Financing – Opportunity to leverage an assumable loan near the current balance.
- Strategic Value-Add – Positioned to capture upside through strengthening market fundamentals and projected rent increases.
- Portfolio Flexibility – Two distinct assets located within walking distance, allowing for versatile management or individual exit strategies.
- Diverse Product Mix – Larger units with 2- and 3-bedroom floor plans, including single-story residences with private yards.
- Prime Connectivity – Situated in a high-demand pocket with immediate access to parks, education, and transit.
- The Domain & Q2 Stadium – Just 2.7 miles from Austin’s “Second Downtown” and premier entertainment district.
Executive Summary
Alma North Plaza I is a 112-unit apartment community located at 1007 East Rundberg Lane in Austin. The
property features spacious residences with an average unit size of approximately 989 square feet and is
composed primarily of two- and three-bedroom floorplans, with full-size washer and dryer connections
available in most units. Community amenities include a centrally located grilling and gazebo area and
an on-site management and leasing office. Interiors are designed with functional layouts that include
separate dining areas, extra-large patios, and cast iron tubs with ceramic tile surrounds.
Alma North Plaza II is a 91-unit apartment community located at 9121 North Plaza. The property is a
low-density community at 23.7 units per acre and features amenities such as perimeter fencing, BBQ
grilling and pet areas, an on-site resident business center with internet access, and AISD school bus pickup
and drop-off. It includes 24 one-story cottage units with private backyards, along with elevator access
to upper-floor units and sprinklered buildings for safety. Apartment interiors offer spacious layouts with
features like full-size washer/dryer connections in select units, solid wood cabinetry, walk-in closets,
breakfast bars, and modern appliances, with residents individually metered for electricity and billed for
water through a RUBS system.
property features spacious residences with an average unit size of approximately 989 square feet and is
composed primarily of two- and three-bedroom floorplans, with full-size washer and dryer connections
available in most units. Community amenities include a centrally located grilling and gazebo area and
an on-site management and leasing office. Interiors are designed with functional layouts that include
separate dining areas, extra-large patios, and cast iron tubs with ceramic tile surrounds.
Alma North Plaza II is a 91-unit apartment community located at 9121 North Plaza. The property is a
low-density community at 23.7 units per acre and features amenities such as perimeter fencing, BBQ
grilling and pet areas, an on-site resident business center with internet access, and AISD school bus pickup
and drop-off. It includes 24 one-story cottage units with private backyards, along with elevator access
to upper-floor units and sprinklered buildings for safety. Apartment interiors offer spacious layouts with
features like full-size washer/dryer connections in select units, solid wood cabinetry, walk-in closets,
breakfast bars, and modern appliances, with residents individually metered for electricity and billed for
water through a RUBS system.
Property Facts
| Sale Type | Investment | Lot Size | 8.74 AC |
| No. Units | 203 | Building Size | 166,742 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | B | Parking Ratio | 1.41/1,000 SF |
| Sale Type | Investment |
| No. Units | 203 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 8.74 AC |
| Building Size | 166,742 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 1.41/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Patio
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Grill
- Maintenance on site
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 243473 | Improvements Assessment | $14,664,070 |
| Land Assessment | $1,075,930 | Total Assessment | $15,740,000 |
Property Taxes
Parcel Number
243473
Land Assessment
$1,075,930
Improvements Assessment
$14,664,070
Total Assessment
$15,740,000
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Alma North Plaza I & II | 1007 E Rundberg Ln
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