248-Unit Golf Course Community in the Austin MSA: Falconhead is directly adjacent to Falconhead Golf Course, offering a uniquely differentiated residential setting within the Bee Cave/Lake Travis corridor. The approximately 17-acre site features a low-density layout, mature landscaping, trail connectivity, and pedestrian access to Lake Travis High School.
Proven Renovation Concept with Significant Value-Add Potential: Current ownership has taken 54 units to the Luxury finish level, establishing a demonstrated rent premium of roughly $170 per month over classic interiors. A new owner can extend the same program across the nearly 200 unconverted units, capturing meaningful embedded rent growth without reinventing the scope.
More Than $3.5 Million Invested Since Acquisition: Ownership has invested over $3.5 million in apartment interiors, amenities, common areas, and building systems, including renovations to the clubhouse, leasing center, fitness center, pool, pavilion, and pet amenities. These improvements reduce near-term capital needs for a future owner.
Difficult-to-Replicate Asset with Strong Physical Fundamentals: Originally developed by A.G. Spanos, Falconhead features concrete paving, tile roofs, mature infrastructure, and a reclaimed-water irrigation system. Ownership estimates replacement cost at approximately $300,000 per unit or more.
Affluent and Supply-Constrained Lake Travis Corridor: The property is located within one of Austin's most affluent suburban corridors, surrounded by high-income households, top-rated schools, premier retail destinations, and limited future multifamily development.
Connected Lifestyle Location: Residents benefit from immediate access to Hill Country Galleria, Baylor Scott & White Medical Center, Lakeway, the Bee Cave trail system, and a wide range of retail, dining, recreation, and outdoor amenities.
