Lofty 800 Embassy Drive

Luxury Condo at the Tyndall at Robertson Hill Condominiums in Downtown Austin, Texas

Offering Details

• Matthew Teifke is selling a portion of his property's equity on the Lofty marketplace.
• Matthew is an owner of TR3 Capital, a 12-year old real estate investment firm in Austin, Texas with a portfolio of over 250 units. He is also the owner of Teifke Real Estate, a real estate brokerage in Central Texas with 116 real estate agents.
• Matthew will maintain at least 10% equity in the property indefinitely.
• Matthew will buy back all of his equity in 10 years for a total of 20% appreciation for investors. There is no fee when equity is bought back, and investors can still trade their tokens on the Lofty marketplace anytime.
• View additional terms here.

Property Details

• This condo is located at the Tyndall at Robertson Hill Condominiums, Austin’s newest modern collection of condominiums.
• This spacious 2 bedroom, 2 bathroom condo offers an abundance of amenities and a prime location for those seeking urban living at its finest.
• Spanning 984 square feet, this condo boasts a thoughtfully designed split floor plan, providing privacy and functionality.
• The unit features a double parking spot for convenience and an in-unit washer/dryer for added convenience.
• Floor-to-ceiling windows flood the space with natural light, creating an inviting atmosphere and offering stunning views of the surrounding cityscape.
• Enjoy the modern comforts of stainless steel appliances in the kitchen and ample storage space with generous walk-in closets.
• Step outside and discover a wealth of communal features designed to enhance your lifestyle. Take a dip in the large pool, which overlooks the iconic skyline of downtown Austin, or unwind in the beautifully landscaped courtyard.
• Host gatherings with ease using the outdoor kitchen space and clubhouse, complete with a rentable conference center.
• Stay active and fit with access to the on-site fitness center, and indulge in your favorite brew at the coffee bar.
• Enjoy the convenience of a 24/7 concierge service for all your needs.
• Located in the Tyndall at Robertson Hill Condominiums, this residence offers more than just a place to live—it provides a vibrant community atmosphere. Within walking distance, you'll find an array of bars, restaurants, and shops, as well as the eclectic East 12th street district, ensuring there's always something new to explore.
• The HOA fees were increased to $687.42/month in January, 2024. The HOA fee can be found under "Utilities" in the Financials tab above.
• View the Tyndall Condominium Information Statement

Property Management and Insurance

• Managed by ATX Property Management
• Property Management Agreement
• ATX manages 36 of Matthew's units with a 97.2% occupancy rate, and charges a 5% management fee.
• Insurance Policy from Farmers Insurance

Property Leverage

• This property has a loan balance of $330,450. View the loan documents here
• As the seller, Matthew Teifke, pays down 100% of the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors have the ability to change this structure via a governance vote.

Occupancy Status

• 1 year lease (02/15/2023 - 05/31/2024)
• $3,450/month
• $3,200 Security Deposit
• Lease Extension Agreement
• Original Lease Agreement
• The Property Manager advised that the tenant is moving out at the end of May. The unit is currently listed for rent, and the PM expects to have a new tenant ready to move in right after the current tenant moves out. Owners will continue to receive daily rent if the property is vacant.

Location Data

• "A" Rating for Zip Code on Niche

Due Diligence Documents

• Appraisal
• Inspection Report
• Tyndall Condominium Information Statement
• Operating Agreement
• View All Documents