The Parker Lane neighborhood is nestled between the major thoroughfares of Interstate 35 and HWY 71 (Ben White Blvd). Immediately across I-35 is the St Edwards University and the vibrant shopping and nightlife of South Congress (SoCo). Just to the North is East Oltorf with several restaurant gems like the little-known 666 Pan Asian.
Air BnB describes Parker Lane as quiet, hip and known for it’s parks. While Niche.com rates the area an overall B+ with more than 85% of the residents renting. Parker Lane provides easy access to downtown Austin. A ridesharing app will get you there in 15mins and for less than $10. Driving through the neighborhoods, you can imagine that it’s what Travis Heights probably felt like 15-20 years ago before it started to turn over.
Parker Lane is significantly under-served by rental properties. While only 15% of residents own their homes, the market isn’t meeting demand. At HEX Properties, we have identified the area as being ideal for investment in single family rental properties and small mixed-use commercial properties along the corridors.
It can be difficult to find good deals in the Parker Lane area as anything that hits the market tends to be snapped up quickly. This is especially true with the fourplex and duplex listings that become available. To combat this, HEX Properties is actively messaging home owners, particularly those that do not live in the properties they own. Our goal is for HEX OZ Fund to acquire 20+ single family residential rentals in the Parker Lane census tract.