Buffalo Springs Condominiums- Georgetown, TX

The Buffalo Springs Condominiums represent a rare opportunity to acquire a fully upgraded boutique multifamily asset in one of the fastest-growing cities in the nation. All 20 units have undergone comprehensive interior renovations, delivering modern finishes and durable upgrades that appeal to today’s renter. Of the 20 units, 19 feature oversized two-bedroom layouts built to condominium specs, offering floor plans that significantly exceed the market average in North Austin and provide a competitive edge in tenant retention and rental upside.
Located just 10 minutes from downtown Georgetown and San Gabriel Park, the property sits in a highly desirable pocket of the Austin MSA that continues to experience robust population and employment growth. Georgetown was recognized by the U.S. Census Bureau as the fastest-growing city in the United States in 2021, 2022, and again in 2024 among cities with at least 50,000 residents. This sustained momentum is driven by strong in-migration, proximity to major employment centers, and a high quality of life. The city’s median household income is approximately $92,000, with many households earning well above the state average, underscoring the strength of the rental demand base.
Multifamily fundamentals in Georgetown remain exceptionally strong. The submarket has recorded consistent rent growth over the past five years, with effective rents rising faster than the Austin metro average due to limited new supply in the immediate area. Absorption has remained positive even through periods of elevated metro-wide deliveries, reflecting Georgetown’s role as a preferred suburban alternative for households seeking larger floor plans and high quality schools while still benefiting from Austin’s employment engine. The combination of sustained rent growth and resilient absorption provides a solid runway for continued performance and value creation at the Buffalo Springs Condominiums.
The property offers a clear path to enhanced cash flow through the implementation of a full utility bill-back program, with only a partial program currently in place. Additionally, investors will benefit from a favorable tax environment, as the property is located in a jurisdiction with one of the lowest millage rates in the Austin metro. The offering is further enhanced by being offered below the 2025 assessed value, providing immediate embedded equity for the next owner.

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Patrick Graham