RangeWater/HUSRE Acquire 150-unit Single Family Rental (SFR) Community in Austin, Texas

By Richard Berger | Contributor, Multi-Housing News

RangeWater Real Estate and equity partner Harbert US Real Estate (HUSRE) have acquired a single-family rental community in the Round Rock submarket of Austin. The joint venture purchased Rock Springs Duplexes at 1338 Christopher Ave.

Rock Springs Duplexes was constructed in two phases, Phase I in 1985 and Phase II in 1996. The community features 108 three-bedroom, two-bathroom homes and 43 three-bedroom, 2.5-bath units. They range from 968 to 1,280 square feet.

In-home amenities include an attached garage, washers and dryers, a gas stove-top and oven, wood plank vinyl flooring and private backyards. The community features a fitness center, coffee bar and community kitchen. RangeWater intends to make improvements to the property.

Residents are located nearby the Dell headquarters as well as the future corporate campuses of Apple and Samsung. The Pitch, with bars, gold courses, pickleball courts and dining options is also in proximity. Downtown Austin is less than 20 miles away.

RangeWater currently manages over 2,300 units across Texas. This is its third asset in the Austin metropolitan area and the company’s first venture with Harbert. RangeWater will serve as property manager for Rock Springs Duplexes.

Read the full article on Multi-Housing News here.