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1200 Broadmoor Dr. | Austin, TX | 78723 286 UNITS SHOWN BY ELLEN MUSKIN DANIEL ELAM VIEW 512.343.2700 x3 512.343.2700 x4 PROPERTY APPOINTMENT ONLY [email protected] [email protected] WEBSITE: WITH LISTING AGENTS AERIAL VIEW HERITAGE AT HILLCREST Austin (CBD) | 3.5 ± Miles MUELLER - Medical District | 0.4 ± Miles University of Texas | 2.0 ± Miles MUELLER - Retail District | 0.3 ± Miles Interstate Highway - 35 Cameron Rd. Looking SOUTH AERIAL VIEW HERITAGE AT HILLCREST Austin Community College - Highland | 1.1 ± Miles E. Highway 290 35 y - Capital Plaza Shopping Mall | 0.1 ± Miles wa igh te H rsta Inte WINDSOR PARK NEIGHBORHOOD Cameron Rd. Broadmoor Dr. Looking NORTHWEST INVESTMENT OVERVIEW HERITAGE AT HILLCREST SALIENT FACTS Heritage at Hillcrest Apartments Price: Market Pricing 286-Unit Multifamily Community in Central NE Austin Terms: All Cash or 3rd Party Financed # of Units: 286 Total # of Buildings: 25 Total The Heritage at Hillcrest (286 units) is located in central northeast Austin, just south of the convergence of Highways 183 / 290 and IH-35 and only 3 ± miles to downtown. The property, originally built in two separate phases located directly across # of Floors: 2 or 3 Floors the street from one another, is comprised of 31 individual buildings on 9.6128 ± acres with an average unit size of 892 ± SF Avg. Unit Size: 892 ± SF and 928 ± surface parking spots. Year Built: 1969 (Major Renovation 2009) Well located in the heart of Austin, The Heritage at Hillcrest Apartments is positioned to BENEFIT GREATLY from the Mueller Total NRSF: 255,140 ± (TCAD) mixed-use development and all its related businesses/residences, medical facilities, and amenities. This redevelopment was the regional Robert Mueller Airport, which is now Austin’s largest mixed-use development from a private-public partnership Land Area: 9.6128 ± ACRES (TCAD) between Catellus Development Corp. and the City of Austin which broke ground 20 years ago. Residential home prices have Zoning: GR-MU-CO-NP soared in this submarket since its inception, with an average sold price of $874,622 and $386 PSF (per MLS). This develop- ment includes four major hospitals/medical facilities, large to medium-sized offices, multifamily developments (on long-term Exterior: Brick / Hardiboard Siding Veneer land leases), cinemas, boutique hotels, restaurants and big box retailers like Home Depot, Target, and more. The property is Roofs: Pitched, Composition Shingle located on multiple bus routes and abuts the Windsor Park single-family neighborhood. HVAC: 1.5 – 2.5-ton Condensing Units Water Heater: 30-gal. Individual Wiring: Copper Laundry Room: Four (4) On-Site (16W/20D) 68 Units W/D Connects. (24 completed, 44 due by 10/2021) Parking: 456 ± Surface Spaces Less than a mile from Heritage at Hillcrest, these notable medical facilities can be found at Mueller: Ì Ascension Dell Children's Medical Center Ì U.T. Dell Pediatric Research Institute Ì Strictly Pediatrics Subspecialty Center Ì Ascension Seton - Texas Admin. Offices INVESTMENT OVERVIEW HERITAGE AT HILLCREST Mueller Community Highlights n The Regional Retail District includes approximately 400,000 ± SF of retail shops and serves as the economic engine for the area. Major retailers include Home Depot, Target, Bed Bath and Beyond, Marriott Hotel, PetSmart, Staples, Alamo Drafthouse Cinema, and Total Wines. n Mueller is home to two corporate headquarters (Austin Energy and Texas Mutual), and over 150,000 SF of medical office space: Seton Family of Hospitals - 155,000 SF & 650 employees, SEDL - 55,000 SF & 100 employees, Texas Health Research - 14-acre campus for Medical Research - 300 employees, Strictly Pediatrics - 127,000 SF building with an 18,000 SF Surgery Center. n Overall, Mueller will have around 30 Million SF of amenities, apartments, condos, banking, cultural, schools, laboratories, workplaces, restaurants and entertainment. Mueller is approved for over 3.5 Million SF of commercial office development. The 1401 Philomena Office Complex is also breaking ground in Aug. 2021. n H-E-B Muller Grocery (83,000 ± SF) is the city's largest grocery store and the Texas giant’s most sustainable store to date. It serves as a testing ground for sustainable design strategies with a dramatic reduction in energy and water usage. Only a few blocks south of Heritage at Hillcrest n Pecan Street Inc. Project – conducts ground-breaking data research and product testing in energy, water and transportation. PS’s database grows by 2.5 Billion records a day and is used by more than 2,000 university-sponsored Mueller Master-Planned Community researchers from 60 countries. 710+ Acres | Mixed-Use and Mixed Income Design n The Town Center District (“Aldrich Street”) is located on 42-acres ± in the heart of the Mueller, and is planned to be a 1.2 Million ± SF mixed-use lifestyle district. The Mueller Master Planned Community is a public-private partnership created between the City of Austin and Catellus Development Corp. on the 710-acre ± site previously home to the Robert Mueller Airport. This n Housing in Mueller consists of single-family homes and condos (1,800+ as of innovative design is the City’s most “Green Community” and a transit-oriented district envisioned to combine Feb. 2020 and 2,600+ upon completion) and apartments (2,100+ as of Feb. 2020 market rate conventional housing, affordable, and senior housing. Mueller will eventually include 6,200 homes, and 3,650+ upon completion). apartments, large-scale office buildings, four major medical facilities, a new AISD middle school, boutique hotels and more. Unique Lifestyle attractions include: The Thinkery Science Museum, Texas Farmers’ Market at Mueller, “Trailer” Eateries, multiple community swimming pools, eight (8) parks, two (2) ponds, and the 6.5-acre ± Mueller Lake. The Mueller neighborhood project was one of the first to achieve Other places to note: AISD Performing Arts Center, Austin Film Studios, Troublemaker Film Studios, the SAFE LEED for Neighborhood Development certification. With the SITES Children’s Shelter, the Rise School of Austin preschool, Austin Energy Headquarters and the Big Brothers/Big certification for Mary Elizabeth Branch Park, Mueller is now the Sisters Central Texas office. first project to combine these two rating systems in the world. PROPERTY DETAILS HERITAGE AT HILLCREST INTERIOR FEATURES Spacious Floor Plans (Avg. 892 ± SF) Fully Equipped Kitchens w/ Stainless / Black Appliances Double-Pane Energy-Efficient Windows Dishwasher and Garbage Disposals Wooden Cabinetry and Modern Pulls Dining Areas Private Patios or Balconies * Built-In Vented Microwaves Upgraded Faucets - Kitchens and Baths Wood-look Hardwood Floors * Three Closets in Living Rooms * Crown Molding and Designer Paint Colors Pass-Through Kitchen Bar Areas Add’l Exits to outside on Balconies (via Kitchens) 2" Wooden Blinds Washer / Dryer Connections = 68 Units (24 completed, 44 due by 10/2021) * in select units Among the top 50 U.S. metros, Austin is the most recovered from the COVID-19 crisis and is best positioned for robust employment growth in 2021. – Economic Innovation Group PROPERTY DETAILS HERITAGE AT HILLCREST COMMUNITY FEATURES Massive Renovations to the Community, both Interior and Exterior (as of 2009) "Green", Energy-Efficient Apartments Uber Convenient Location | Walkable and Bikeable Three Swimming Pools 24-Hour Fitness Center with Two-Story Ceiling Heights Large Fenced-in Dog Park Professional Business Center w/ Free Wi-Fi Beautiful Treed Courtyards Four Convenient Clothes Care Centers Google Fiber | Cable & High-Speed Internet Ready Minutes from Downtown Austin On Capital Metro and UT Shuttle Routes Ample Parking with 456 ± Parking Spaces Convenient to I-35, Hwy 290, & Hwy 183 Offers Affordable Liability Renters Insurance Program UNIT MIX HERITAGE AT HILLCREST UNIT MIX Unit Total Average Monthly Annual Rent Units Type SF± SF± Actual Rent Mkt. Rent Mkt. Rent / SF 9 1 Bed / 1 Bath 627± 5,643± $950 $8,552 $102,624 $1.52 17 1 Bed / 1 Bath - PU 627± 10,659± $972 $16,526 $198,312 $1.55 2 1 Bed / 1 Bath - SS 627± 1,254± $1,003 $2,006 $24,072 $1.60 13 1 Bed / 1 Bath 694± 9,022± $1,008 $13,099 $157,189 $1.45 18 1 Bed / 1 Bath - PU 694± 12,492± $1,045 $18,814 $225,768 $1.51 5 1 Bed / 1 Bath - SS 694± 3,470± $1,048 $5,240 $62,880 $1.51 16 2 Bed / 1 Bath 801± 12,816± $978 $15,647 $187,764 $1.22 31 2 Bed / 1 Bath - PU 801± 24,831± $1,033 $32,022 $384,265 $1.29 4 2 Bed / 1 Bath - SS 801± 3,204± $1,073 $4,293 $51,516 $1.34 15 2 Bed / 1 Bath 889± 13,335± $1,091 $16,365 $196,380 $1.23 29 2 Bed / 1 Bath - PU 889± 25,781± $1,118 $32,432 $389,182 $1.26 8 2 Bed / 1 Bath - SS 889± 7,112± $1,191 $9,529 $114,348 $1.34 7 2 Bed / 2 Bath 1,016± 7,112± $1,217 $8,516 $102,192 $1.20 22 2 Bed / 2 Bath - PU 1,016± 22,352± $1,204 $26,486 $317,832 $1.18 9 2 Bed / 2 Bath - SS 1,016± 9,144± $1,214 $10,922 $131,064 $1.19 26 2 Bed / 2 Bath 1,073± 27,898± $1,116 $29,023 $348,276 $1.04 42 2 Bed / 2 Bath - PU 1,073± 45,066± $1,176 $49,371 $592,452 $1.10 13 2 Bed / 2 Bath - SS 1,073± 13,949± $1,223 $15,899 $190,788 $1.14 286 892± 255,140± $1,100 $314,742 $3,776,905 $1.23 “Market Rent” changes daily due to LRO Software W/D connections in 68 units (24 completed, 44 due by 10/2021) 200 Units have been upgraded (159 Partial & 41 Signature) UPGRADE LEVEL UPGRADE DESCRIPTIONS Partial Upgrades (PU) include either one Signature Series Upgrades (SS) or a combination of the following: include the following items: * • Flooring • Hardware • Flooring • Lighting Fixtures UNIT MIX