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Red River Apartments Sold – Capital Improvements Made

Red River Apartments, Austin Multifamily Complex, Fannie Mae Acquisition Loan, Capital Improvements

Smart Austin Concierge

March 7, 2023

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Content: Red River Apartments, a 30-unit multifamily complex located at 3301 Red River Street in Austin, Texas, has recently sold. The property was built in 1963 and renovated in phases from 2017-2022. Capital improvements made included new bathrooms, flooring, countertops, backsplashes, and exterior upgrades. Northmarq brokered the sale and provided a five-year, fixed-rate Fannie Mae acquisition loan. At the time of sale, Red River Apartments was fully leased.

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