Park Plaza Ii

16 UNITS • 2 DUPLEXES + 3 FOURPLEXES

NORTHEAST AUSTIN SUBMARKET

933 Park Plaza sits on HENNA 1.1928 ± Acres of Land Park Plaza Drive CHEVROLET 919 Park Plaza

915 Park Plaza

909 Park Plaza

Park Plaza Drive

905 Park Plaza

5 Total Buildings | ALL CONTIGUOUS PROPERTIES 905, 909, 915, 919, 933 Park Plaza Drive | Austin, Texas 78753

ELLEN MUSKIN DANIEL ELAM VIEW SHOWN BY 512.343.2700 x3 512.343.2700 x4 PROPERTY APPOINTMENT ONLY [email protected] [email protected] WEBSITE: WITH LISTING AGENTS AERIAL VIEW PARK PLAZA II

and NorthviewHenna Business Chevrolet Center

Park Plaza Drive

905

909

915 Park Plaza Drive 919

933

North Plaza Park Plaza Drive

Park Plaza II

(FOR ILLUSTRATION PURPOSES ONLY) AERIAL VIEW PARK PLAZA II

HARMONY SCIENCE 35 ACADEMY

E. Rundberg Lane

Interstate Highway

DOBIE MIDDLE SCHOOL

35 NORTHVIEW BUSINESS CENTER E. Rundberg Lane

GUSTAVO "GUS" L. GARCIA DISTRICT PARK

Interstate Highway HENNA CHEVEROLET

Park Plaza II - 905, 909, 915, 919, 933 Park Plaza Drive INVESTMENT OVERVIEW PARK PLAZA II

Park Plaza II SALIENT FACTS 16-Units | 5 Total Duplex and Fourplex Residential Multifamily Homes NEW PRICE: $3,000,000 Terms: All Cash / Third-Party Financed These five (5) contiguous properties offer great efficiencies and economies of scale in this well-located sector Northeastin # of Units: 16 Total Austin. Residents of Park Plaza II benefit from convenient access to major highways (IH-35 & Hwy 183), public transit and walking distance to other amenities like neighborhood parks and schools (both public and private). This opportunity is well Year Built: 1984 positioned amongst Austin’s booming Northeast Austin submarket offering major employers nearby as well as being situated in between Austin’s vibrant CBD and the tech corridor stretching up to Round Rock (e.g. Dell’s World Headquarters). Total NRSF: 12,848 ± (TCAD)

Other exciting area highlights include the nearly completed 20,500-seat soccer stadium, which will be home to Austin’s first Land Area: 2.6284 ± ACRES (TCAD) Major League sports team — Austin FC — whose games will be played approximately 3 ± miles from the subject property. The new Stadium borders The Domain, a major “live, work, play” lifestyle hub often referred to as Austin's Second Downtown — Zoning: GR-MU-NP home to various commercial/office facilities, and retail amenities. Roughly 4 ± miles north ofPark Plaza II lies Tech Ridge Center and Parmer Business Park, and the new Amazon Fulfillment Center will be about 8 ± miles to the north in Pflugerville. Exterior: Hardieboard, Siding, Stone The desirability of this product type has been an increasing trend as we move into a new era of socially distancing and lower Roofs: Pitched Composition Shingle density due to the COVID-19 pandemic protocols and lifestyles. HVAC: Individual Central Air

Fireplaces: All Units

Water Heater: Individual / Electric 30-Gallon

Water/Wastewater: 1 Meter per Building

W/D Connections: 100% of All Units

Parking: Off-Street

A new 3.8M ± SF Amazon Fulfill- Parmer is a 225 ± acre premier busi- Founded in Austin, the computer ment Center is under construction in ness park with over 671K ± SF of tech and equipment manufacturer, Pflugerville, TX. Once completed, this commercial, retail and office space. Dell Technologies, is anchored in four-and-a-half story, $250M, logistics Tenants include 3M, Home Depot Round Rock, TX, and is the Central and distribution facility will employ up Tech Center, BAE Systems, Infosys, Texas region's largest private com- to 1,000 ± people. and GM Innovation Center. pany with 14,000 ± employees. (8 ± miles north of Park Plaza II) (4 ± miles north of Park Plaza II) (9 ± miles north of Park Plaza II) INVESTMENT OVERVIEW PARK PLAZA II

INVESTMENT HIGHLIGHTS

Æ Northeast Austin location with easy access and visibility from Interstate Highway 35

Æ 6 ± miles to the Austin CBD, on Metro Bus Routes and walking distance to area schools Property Character Æ 4 ± miles south of the Parmer Business Park (3M Science Center, BAE Systems, Infosys, Home Depot Tech Center, and GM Innovation Center) This grouping of two (2) duplexes and three (3) fourplexes, collectively known as Park Plaza II, is comprised of 2-Bed | 1-Bath units with an average size of 803 ± SF. The five contiguous parcels are on Park Plaza Drive with Æ Only 3 ± miles to the new Austin FC Major League some extra land on the east side backing up to Little Walnut Creek. Two of those units have been extensively remodeled and are notated as PMR on the unit mix. Soccer Stadium ($242 million | 20,500-seats), and 4 ± miles to the Austin FC Training Facility The current Owner has operated these properties long-term and there is pride of ownership with recent enhancements like new pitched, composition shingle roofs (installed spring 2020) and full exterior painting Æ Less than 5 ± miles south of the Samsung Austin (summer 2020). However, interior updates have varied over time and could be upgraded with further renova- Semiconductor campus (8,000 ± employees) tions. The property currently does not charge back for utilities and all units have full-sized W/D connections. Each building is on its own water meter so they should be easy to adapt. It is also possible these properties could be sold off individually or may benefit from creating a condo regime over time. Æ 9 ± miles south of the Dell Technologies Headquarters in Round Rock, TX (14,000 ± employees) This neighborhood pocket in Northeast Austin has a quiet feel and great accessibility — to all of Austin's services and amenities — by all forms of transit. To its benefit,Park Plaza II is just around the block from Æ Abundant Greenspace | Direct access to scenic Gustavo “Gus” Garcia District Park, an amazing outdoor recreation greenspace; and located across the street from the park is the Dobie Middle School (AISD). Harmony Science Academy, a PreK–8th grade public charter Little Walnut Creek school, has a notable presence along E. Rundberg Lane as well. There is a sense of community here amongst residents who have called this area home for years.

AUSTIN is the Best Place to Live in the U.S.

- U.S. News & World Report — FINANCIAL ANALYSIS PARK PLAZA II

UNIT MIX Unit Total Market Monthly Annual Rent Units Type SF± SF± Rent Mkt. Rent Mkt. Rent / SF 4 2 Bed / 1 Bath (905 PP Dr.) 814± 3,256± $1,375 $5,500 $66,000 $1.69 4 2 Bed / 1 Bath (909 PP Dr.) 814± 3,256± $1,375 $5,500 $66,000 $1.69 2 2 Bed / 1 Bath (915 PP Dr.) 792± 1,584± $1,375 $2,750 $33,000 $1.74 2 2 Bed / 1 Bath (919 PP Dr.) 792± 1,584± $1,375 $2,750 $33,000 $1.74 2 2 Bed / 1 Bath (933 PP Dr.) 792± 1,584± $1,375 $2,750 $33,000 $1.74 2 2 Bed / 1 Bath (933 PP Dr.) PMR 792± 1,584± $1,500 $3,000 $36,000 $1.89 16 803± 12,848± $1,391 $22,250 $267,000 $1.73

3 Fourplexes and 2 Duplexes - 100% Occupied Square Footage based on Living Area shown on TCAD records

INCOME 2019 Pro Forma Actuals Scheduled Market Rent $267,000 — Less: Loss to Lease 1.00% ($2,670) — Less: Vacancy 4.00% ($10,680) — Less: Concessions 0.50% ($1,335) — Less: Non-Revenue Units & Bad Debt 0.25% ($668) — Net Rental Income $251,648 $198,604

Plus: Fee Income $2,000 — Plus: RUBS Income $5,000 — Plus: Other Income $3,000 — Total Operating Income (EGI) $261,648 $198,604

EXPENSES Per Unit Administrative $47 $750 $445 Advertising & Promotion / Locators $94 $1,500 — Repairs & Maintenance $500 $8,000 $9,494 Management Fee 6.00% $981 $15,699 — Utilities $750 $12,000 $12,083 Real Estate Taxes 85% of ask price 2.226665% $3,549 $56,780 $28,767 Insurance $450 $7,200 $6,963 Total Expenses $101,929 $57,753

Per Unit: $6,371 $3,610 Per SF: $7.93 $4.50

Net Operating Income $159,719 $140,852

All buildings were reroofed and received full exterior painting in 2020 PROPERTY DETAILS PARK PLAZA II

INTERIOR FEATURES Individual HVAC in Units

Ceiling Fans

Spacious Bedrooms

Refrigerators, Disposals, Dishwashers

Ceramic Tile Bathroom Surrounds

Individual Patios, Balconies or Yards

Fireplaces in All Units

Vaulted Ceilings*

Walk-in Closets

Flooring — Faux Wood Vinyl and 8″ x 8″ Ceramic Tile

* in select units

COMMUNITY FEATURES New Roof (spring 2020) and Exterior Paint (summer 2020)

Fresh Texas Native Landscaping

100% W/D Connections

Barbecue and Picnic Areas

Abuts Little Walnut Creek

Close Proximity to Three Major Highways

Near Austin Metro Bus Stops

Convenient to Schools and Parks nearby

Close to CBD and Major Employers INVESTMENT LOCATION PARK PLAZA II

Lifestyle Center Fulfillment Center St. David's Performance Center

An “upscale” lifestyle center with high-density Amazon recently announced a four-and-a- The new state-of-the-art training facility for the business, retail, and residential is within 3.8 ± half-story, 7.9 ± million SF fulfillment centerin "Austin FC" will consist of four full-size soccer miles of Park Plaza II. Retailers include Austin’s Pflugerville, TX — just 8.5 ± miles northeast of fields, spectator stands, a kitchen serving meals firstNeiman-Marcus, Macy’s, Apple Store, Tesla, Park Plaza II. Expected to be completed in July to staff and players, and cutting-edge tech- Aloft Hotel, Design Within Reach, Anthropologie, 2021, this facility will consist of approximately nology provided by St. David’s Healthcare, the Coach, Tiffany & Co. and H&M. Office tenants 780,000 SF of warehouse space, 43,000 SF of team’s first founding partner. The 23-acre site in now include: Facebook, Fidelity Investments, office space, 3 million SF of robotics space, and the Parmer Pond district will have a $45 million Amazon, and Vrbo/HomeAway. 1,000 new full-time jobs. price tag, be privately funded, and located only 4.6 ± miles from Park Plaza II.

Austin Community College (ACC) Northridge, home The University of Texas main campus is about 4.8 to creative design technologies, radio-television- ± miles to the south of Park Plaza II. With current film, and technical communications programs, is enrollment of 51,800 ± students, U.T. is consis- about 3.5 ± miles west of Park Plaza II. tently ranked one of the best public universities in the country, with top ranked programs in Business, Highland (formerly Highland Mall)—Austin’s new Engineering, Law, and Medicine. Education-hub—consists of housing, diverse retail shops, offices, residential space, and a new high- The U.T. Pickle Research Campus, a satellite tech campus for the Austin Community College research facility part of the University of Texas, is (ACC). Only 2 ± miles southwest of Park Plaza II. only 3.3 ± miles northwest of Park Plaza II. INVESTMENT LOCATION PARK PLAZA II

Location Amenities AUSTIN AREA EMPLOYERS FOOD & DRINK RETAIL / SHOPPING n Dell n Whole Foods Market n The Domain Northeast Submarket n Samsung n H-E-B Grocery n Whole Foods Market Performance n 3M Science Center n Wingstop n Walmart Super Center n BAE Systems n Applebee’s Grill + Bar n H-E-B Grocery n GM Innovation Center n Buffalo Wild Wings n Target n Home Depot Tech Center n Free Birds World Burrito n Costco Average Occ. n Apple n Ken’s Tacos n Dillard’s for Stabilized n Oracle n Ramen Tatsuya n H&M Apartments: n IBM n Mod’s Pizza n Neiman Marcus n Microsoft n The Rolling Rooster n Nordstrom 95% n Hewlett-Packard n O’daku Sushi n Macy’s n Blue Apron n Spice Fine Indian Cuisine n Academy Sports + Outdoors n National Instruments n Oakwood BBQ & Beer Garden n Best Buy n Texas State Capitol n In-N-Out Burger n DSW Designer Shoe Warehouse n St. David’s Medical Center n The Original Pancake House n Marshalls Average Two n Seton Family of Hospitals n Crawfish Shack and Oyster Bar n Home Depot Bedroom Rents: n UT Dell Medical School n Papadeaux Seafood n Dick’s Sporting Goods $1,344

OUTDOORS EASY ACCESS DISTANCES n Gus Garcia District Park n Interstate Highway 35 n 2.0 ± mi. to ACC - Highland Campus Rent PSF has n Walnut Creek Metro Park n Highway 183 n 3.5 ± mi. to Mueller Community increased over n Walnut Creek Greenbelt n Highway 290 n 3.8 ± mi. to The Domain the last 24 months: n Walter E. Long Metro Park n Loop 1 (MoPac Expwy) n 4.1 ± St. David’s Medical Center n Quail Creek Neighborhood Park n Texas State Highway 45 n 4.8 ± mi. to U.T. (Main Campus) n Brownie Neighborhood Park n Rundberg Lane n 6.8 ± mi to Austin CBD 7.14% n Cook School Park n Parmer Lane n 8.9 ± mi. to Austin-Bergstrom Interna- n Woolridge School Park n North Lamar tional Airport (ABIA) AUSTIN INVESTOR INTERESTS 4th Quarter 2020 Trend Report 183 Round Rock 130

Park Plaza II 35 45 45 Proximity Map 1 620

INNOVATION DISTANCES CENTER

from Park Plaza II Miles ± 183 TECH 1 CENTER Gus Garcia District Park 0.1 620 35 ACC Highland Campus 2.0 130 Austin FC Stadium 3.0 Dell Children’s Medical Center 3.1 IBM Campus 620 3.4 Indeed (Domain) 3.4 ACC Northridge Campus 3.5 Mueller Development 3.5 North Austin

Samsung Austin Semiconductor 3.6 183 290 Amazon (Domain) 3.8 360 1 The Domain 3.8 West Austin 71 35 Facebook (Domain) 3.9 Eastside St. David’s Medical Center 4.1 UNIVERSITY of TEXAS Austin FC Training Facility 4.6 DOWNTOWN Texas State Capital 4.8 CBD 183 University of Texas 4.8 General Motors Tech Center 4.9 130 Oracle Campus (south) 6.1 1 Apple Campus 6.3

Austin CBD 6.8 71 Apple Campus (future) 7.6 290 290 Amazon Fulfillment Center 7.9 35 Tesla Gigafactory (future) 8.0 71 Austin-Bergstrom Int'l Airport 8.9 71 Dell Headquarters Campus 9.0 South Austin 290 183 AUSTIN- BERGSTROM 71 INT’L AIRPORT 130 Disclaimer: Information shown on this map is compiled from numerous sources and may not be complete or accurate. Muskin Commercial, LLC provides this map without any warranty of any kind whatsoever, either express or implied. Information About Brokerage Services

TYPES OF REAL ESTATE LICENSE HOLDERS: y A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. y A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Texas law requires all real estate y Put the interests of the client above all others, including the broker’s own interests; licensees to give the following y Inform the client of any material information about the property or transaction received by the broker; information about brokerage y Answer the client’s questions and present any offer to or counter-offer from the client; and services to prospective buyers, y Treat all parties to a real estate transaction honestly and fairly. tenants, sellers and landlords. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: y Must treat all parties to the transaction impartially and fairly; y May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. y Must not, unless specifically authorized in writing to do so by the party, disclose: - that the owner will accept a price less than the written asking price; - that the buyer/tenant will pay a price greater than the price submitted in a written offer; and - any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: y The broker’s duties and responsibilities to you, and your obligations under the representation agreement. y Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Muskin Commercial, LLC 9000275 [email protected] (512) 343-2700 Licensed Broker / Broker Firm Name or Primary Assumed Business Name License No. Email Phone Ellen Muskin 334236 [email protected] (512) 343-2700 Designated Broker of Firm License No. Email Phone Ellen Muskin 334236 [email protected] (512) 343-2700 Licensed Supervisor of Sales Agent / Associate License No. Email Phone Daniel Elam 616676 [email protected] (512) 343-2700 Sales Agent / Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission Buyer / Tenant / Seller / Landlord Initials Date Information available at www.trec.texas.gov 183

290 360 AUSTIN 1 35 183 130 290

For information on Multifamily Properties in Austin, Texas —please contact:

ELLEN MUSKIN DANIEL ELAM 512.343.2700 x3 512.343.2700 x4 [email protected] [email protected]

4601 Spicewood Springs Road Building 4, Suite 101 Muskin Commercial, LLC has prepared this brochure to provide summary information to prospective purchasers and makes no warranty or representation about the content. While this Austin, TX 78759 WWW.MUSKINCOMMERCIAL.COM information has been obtained from sources believed to be reliable; Muskin Commercial, LLC has not conducted any investigation regarding these matters and prospective purchasers should independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are examples only and do not necessarily represent the current or future performance of the property. This brochure does not constitute an offer of sale, but is merely an invitation to bid.