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1700 S Austin Ave, Georgetown, TX, 78626

The Georgian
$3,750,000

Key Information

Cap Rate
5.82%
$ per SF
$145
Tot. SF
25,700
Units
41
Year Built
1968
Type
Apartments
NOI
$218,267

Highlights

  • Explosive Population Growth in Georgetown – Georgetown ranks as one of the fastest growing U.S. cities and has seen population growth exceed 50% since 2020. The market is further supported by average household incomes above $122,000 (U.S. Census Bureau).
  • Infill Location Walkable to Downtown – The Georgian is strategically positioned just 0.5 miles from Downtown Georgetown and the historic Georgetown Square, offering residents walkable access to dining, retail, and entertainment. The Property also benefits from immediate proximity Southwestern University and I-35, providing direct connectivity to Round Rock and core Austin.
  • Long-Term Ownership – The Property has been operated by the same ownership group for over 25 years and has been well maintained, positioning a new owner to focus capital on value-add renovations rather than addressing deferred maintenance.
  • Meaningful NOI Upside – Implementation of a utility billback program presents a clear path to over $20,000 in additional annual revenue with little to no upfront capital investment required.
  • Built-in Rent Growth – Current average rents of $984 sit comfortably below peak rents of $1,100+, allowing new ownership to absorb upside with no new multifamily deliveries in forecast for Georgetown.
  • Desirable Product – The Georgian offers spacious units (±627 SF avg.) featuring patios (1st floor) and decks (2nd floor) with excellent modernization potential. On-site amenities include a central pool, leasing office, and laundry room.

Photos

Location

Agents

Broker of Record

Patrick Graham

License # 9005919, 528005 (TX)
Matthews Real Estate Investment Services, LLC
2699 Howell St., Suite 400, Dallas, TX 75204