Hidden Gardens

71-Unit Community in the Brentwood Neighborhood of Austin, TX

Midtown Submarket

Located just minutes from the Austin Central Business District, the University of Texas, and the Triangle. 

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Average rent’s at takeover were approximately 10% below nearby renovated product of a similar vintage.

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Great Location

Hidden Gardens is located in the Brentwood area, nearby UT, Downtown, the Triangle, and many great schools.

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Tenant Demographic

Hidden Gardens tenant demographic is largely young professionals, IT workers, students, and UT staff.

5606 N Lamar Blvd.

This 71-unit property was built in 1972, and features large units (760 average sqft), individual courtyards, pool/outdoor area, pet park, and on-site laundry facility.


Total Units


  • Occupancy at takeover 99% 99%
  • Value-Add Rent Growth 10% 10%
  • Average Annual Sub Market Rent Growth 5.7% 5.7%
  • Average Sub Market Occupancy 95.6% 95.6%

Austin is one of the key places we want to be because we think that’s where our people want to be. We want to develop the kinds of facilities where you feel good about coming to work every day.

Larry Ellison, CTO of Oracle

The Story

Hidden Gardens was brought to us as an off-market deal. The first thing that stood out was the fantastic location, nestled into a rapidly developing, centrally located neighborhood near many employers. The second thing, the large units and below market rents. 

Since our purchase in late 2019, we’ve completed many capital expenditure projects, including replacing all the laundry equipment with our own, increasing the income from $200 per month to $800 per month, or a $145,000 increase in value.

We expect to exit this project in 5-years, with an equity multiple greater than 2.0x and an average annual return of 17%.


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