Austin Multifamily Real Estate Offering Now Live With 15.9% Target Annual Returns

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The real estate crowdfunding platform (click here to view more real estate crowdfunding offerings) RealtyMogul recently launched a new offering for Citizen House Decker, a brand new, Class A multifamily property located near the new Tesla Inc. TSLA gigafactory in Austin, Texas.

The deal sponsor is looking to raise $77.1 million in equity to purchase the multifamily property that was built in 2021. The brand new estate has an occupancy rate of 61.3% and a year one cap rate expected at 3.71%, which is 20 basis points more promising than the market cap rates in Austin for Class A residences currently. The target return is an attractive 15.9%.

Investment Highlights: The property is located at a 4-mile drive from the brand new Tesla gigafactory and is the nearest Class A apartment rental property to it. The estate offers amenities like a resort-style pool, poolside grills and eating area, a resident lounge with kitchen and arcade, coworking space and a fitness facility.

The deal sponsor intends to keep the property stable at market rents by leasing it with concessions at reduced costs. Rents are currently about $500/month less on average than high-end properties a few miles west of the city. In addition, the buyer intends to capitalize on the Austin market's rapid expansion.

  • Minimum investment: $35,000
  • Target IRR: 15.9%
  • Target annual cash yield: 6.6%
  • Target equity multiple: 1.89x
  • Target investment term: 5 years

Visit RealtyMogul for more details on this offering

Deal Sponsor: Prism Multi Family Group is a real estate investment and asset management firm established in Canada specializing in buying high-value multifamily properties in the United States. The company only employs top management firms to work with, reducing high costs and maximizing potential market rent. The group has $230 million in assets under management, with properties all over Florida, Arizona, Texas, Nevada and California.

Want to be the first to know about new investment opportunities? While real estate crowdfunding is giving individual investors access to private deals that have historically been out of reach, many of the most lucrative deals are fully funded before the average investor ever has a chance to get involved.

Gain access to the same investment offerings on which institutions and billionaire investors are earning 20% to 30% or higher annual returns by signing up here for free alerts to find out about new offerings before they go live.

Photo: Courtesy of RealtyMogul
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Posted In: Real EstateAlternative investmentscrowdfundingPrism Multi Family GroupRealtyMogulTesla
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