AUSTIN - The former Berkshire SoCo, the now Davis at SoCo, an apartment and retail project on South Congress Avenue near SH 71, has been acquired.
There are plans to add nearly $7 million in upgrades immediately and more as it updates all 375 units.
The Davis at SoCo was 96 percent occupancy at the time of closing.
At the moment, rents average $1.56 per sf.
Some 65 percent are one-bedroom units with the rest two-bedroom units.
Check out Austin Multifamily Market Research.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.