There’s no shortage of large, corporate apartments in the West Campus area, many of which are a bit overpriced and charge extra for reserved parking spaces. That’s why were so glad to find out about an older West Campus apartment that’s been a bit under-the-radar for the past few years but is definitely a student favorite: 1900 San Gabriel Apartments. They may be a built old, but the mature trees on the lot, huge units, reserved parking spaces, and attractive stucco exterior have aged extremely well, and these are definitely among the largest units for the price in all of West Campus. Located at the intersection of MLK and San Gabriel, these apartments are not only just blocks from UT Austin and all of the UT-area retail and restaurants, but just two blocks from Pease Park and the hike and bike trail as well. Looking for an outstanding value on a classic West Campus property? Need a property that’s fairly priced and includes parking that’s reserved for your unit? Tired of all the corporate inventory that’s essentially the same? Look no further than the outstanding apartments at 1900 San Gabriel - available now for pre-leasing for the 2010-2011 school year!
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It’s often extremely difficult to find an affordable apartment within walking distance to UT campus that’s worth living in - much of the private inventory (duplexes, houses, etc.) is in very bad shape, and some of the larger apartment complexes that do have lower prices are downright scary. That’s why we are so impressed with Camino Real - a West Campus apartment complex with clean units, gated access, ample FREE parking, and an ideal location just a few blocks from campus near the ZBT house. A management company with a solid reputation, excellent pricing structure, and great location make this an excellent choice for 2010 pre-lease, and prices start at just $775 for a spacious 1/1. Interested in finding an affordable West Campus apartment for next year with lots of perks but aren’t interested in paying outrageous prices? Look no further than Camino Real - just call up your West Campus Living agent (after all, they’ve been voted #1 three times in a row) to schedule a property tour today!
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According to the Austin American Statesman and the Real Estate Center at Texan A&M (boo Aggies!), after two years of steady decline in occupancy rate and pricing in the Austin apartment market, the end of the 2009 saw improvement and 2010 looks to be a strong recovery year for the Austin market. The uptick in prices and occupancy can be partially attributed to the generally strong and steadily-recovering local economy, the fact that Austin has had fewer layoffs than most other major cities, and the general desirability of relocating to Austin. The fact that fewer buyers were purchasing new homes also leads more people to choose apartment living as an alternative, and this probably won’t change much into 2010, although the most recent data suggests that Austin actually had a massive year-over-year increase in home sales in December as well (over 57% according to the Austin Board of Realtors). The major takeaway from all of this: despite the fact that over 4000 apartments were added to the Austin market from June-December alone, more units were actually leased in that period than were built, which is a perfect example of the resiliency and singular nature of the Austin market for rental property and and even better reason to invest in multifamily property in Austin, TX!
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