3801 Meyers LnLacy Lakeview, TX 76705

For Sale
$49,800,000

Class A, 214 Units, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional investment opportunity: The Zoe Luxury Apartments, a Class A, 214-unit apartment building in Lacy Lakeview, Texas (76705), is now available for $49,800,000. Completed in 2024, this six-building complex boasts 172,782 square feet and offers a mix of one- and two-bedroom units, each averaging $232,710. The property features a pro-forma cap rate of 5.02% and a pro-forma NOI of $2,497,841, with current occupancy at 25%. Since its June 15, 2024 opening, leasing velocity has been strong, averaging 30 units per month, projecting stabilization within six months. Residents enjoy an array of amenities including a pool, garage parking, clubhouse, pickleball court, fitness center, and BBQ area, with utility reimbursement included. This property presents a compelling opportunity for investors seeking a high-performing, newly constructed multifamily asset in a growing Texas market. The property is located at 3801 Meyers Ln, Lacy Lakeview, TX 76705. Expected annual rents exceed $3.5 million.

Highlights

  • $49,800,000 asking price for this Class A multifamily property.
  • 214-unit apartment building completed in 2024.
  • Offers a mix of one- and two-bedroom units.
  • Six residential buildings and six ancillary buildings on the site.
  • Attractive amenities include a pool, garage parking, clubhouse, pickleball court, fitness center, and BBQ area, plus utility reimbursement.
  • Strong leasing velocity of 30 units per month since opening June 15, 2024.

Property Details for 3801 Meyers Ln

Property type
Multifamily properties, Apartment buildings
Square Feet
172,782 SF
Class
A
Year Built
2024
Buildings
6
Stories
3
Units
214

Location Insight

City
Lacy Lakeview
County
McLennan
State
Texas
Latitude
31.6141219
Longitude
-97.0998229
3801 Meyers Ln, Lacy Lakeview, Texas

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3801 Meyers Ln
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