The Hedge II (Red Roof Inn & Budget Lodge) – Accept Waiting List
the second phase of The Hedge apartment
INVESTMENT PROJECT INTRO
Red Roof Inn located in the dynamic north central Austin submarket, just north of two of the area’s major mixed-use developments (Highland Mall and Mueller), and only 15 minutes from Austin’s top economic engines, Downtown and The Domain. With immediate access to Austin’s major transportation arteries, I-35, US 183 and Hwy 290, this infill location provides residents unlimited entertaining options and retail destinations.Red Roof Inn and the Budget Lodge are currently zoned commercial, the City of Austin has laid out a plan that allows for conversion.
Red Roof Inn belongs to the second phase of The Hedge apartment. Real International invested in Austin Suites, the first phase of The Hedge, in March 2020. After the conversion, the Red Roof Inn will share the same property management team with Austin Suites, and the subsequent management costs of the two properties will be significantly reduced, thus increasing the return of investors. Here are the details of the property：
- Total Units: 143
- Year of Construction: 1981
- Price/unit: $47,000,00
- Area/average unit: 295 SF
*Nearly 50% below the average market price.
Budget Lodge is located within 0.5 miles of Red Roof Inn. The property will be converted in accordance with the interior design of The Hedge. The following is the specific information of the property:
- Total Units: 150
- Year of Construction: 1974
- Price/unit: $33,000,00
- Area/average unit: 250 SF
*Nearly 70% below the average market price.
DETAILS ABOUT PROJECT
- Address：1990 N I-35, Round Rock, TX
- PROPERTY TYPE: Apartment
- INVESTMENT PROFILE:
- INVESTMENT CATEGORY: Private Equity
- TARGETED INVESTMENT PERIOD: 3 years
- MINIMUM INVESTMENT: Contact us for more info