In The News | Austin Multifamily/Retail Building Sells At Near-Record Price

Lucas Fryman

The property, at 5550 West North Ave., has 31 multifamily units and four retail spaces. The residential portion was nearly 100% occupied at the time of sale, and three of the four retail blocks are leased. The building was recently improved with updated electrical and plumbing.

Interra Realty Director Lucas Fryman brokered the sale.

“The sale at 5550 West North Ave. is a great example of continued investor demand for economies of scale through the acquisition of larger apartment buildings with upgraded finishes and stable operations,” Fryman said

Read Article: Bisnow