AUSTIN - The 268-unit Montecito apartment community at 3111 Parker Lane, southeast of downtown, has been sold for $19 million.
Built in 1984, the apartments were renovated in 2011 for about $1.8 million. At the time of closing on Dec. 31, the property was 96 percent occupied.
Steadfast Income REIT in Orange County, Calif., was the buyer.
Read more at the Austin Business Journal.
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