| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Poor |
| Demographics | 27th | Poor |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 W Irving Blvd, Irving, TX, 75061, US |
| Region / Metro | Irving |
| Year of Construction | 1984 |
| Units | 92 |
| Transaction Date | 2016-03-28 |
| Transaction Price | $6,175,000 |
| Buyer | K Garage Co., Ltd. |
| Seller | Villas Bel Air LLC |
2700 W Irving Blvd Irving Multifamily Opportunity
Neighborhood renter concentration is high and occupancy is solid for the area, supporting demand durability according to WDSuite’s CRE market data. For investors, this points to steady leasing fundamentals at the neighborhood level rather than property-specific performance.
This Inner Suburb location in Irving sits within the Dallas–Plano–Irving metro and carries a C+ neighborhood rating. Amenity access is competitive among 1,108 metro neighborhoods, with parks and everyday retail (grocers, childcare) outperforming national medians, while cafes and pharmacies are comparatively sparse. For investors, that mix supports day-to-day convenience without relying on destination retail.
Neighborhood occupancy is above national medians and renter-occupied housing is prevalent. The neighborhood’s renter concentration (share of housing units that are renter-occupied) indicates a deep tenant base, which can support leasing stability and reduce downtime between turns. Median contract rents in the neighborhood track closer to regional working-class budgets, suggesting broader reach for workforce renters and potential for consistent absorption.
Within a 3-mile radius, demographics indicate steady population growth and an increase in households, expanding the local renter pool. Household incomes have trended higher over the last five years and are projected to continue rising, which can underpin rent collections and support modest pricing power over time.
Elevated home values relative to income at the neighborhood level point to a high-cost ownership market in context, reinforcing reliance on multifamily rentals. At the same time, the neighborhood’s rent-to-income ratios remain manageable in national context, which supports retention and reduces affordability pressure risk for existing tenants.
Vintage is a consideration: the property was built in 1984, slightly older than the neighborhood average construction year. That profile often benefits from targeted capital plans—mechanical system updates, exteriors, and common-area improvements—that can drive value-add upside and competitive positioning versus similar vintage stock.
Safety metrics for the neighborhood trail national benchmarks, and performance ranks in the lower half among 1,108 Dallas–Plano–Irving neighborhoods. While both violent and property offense rates sit below national percentiles associated with safer areas, recent year-over-year trends show modest improvement, which investors can track as part of ongoing risk monitoring.
Framing this prudently for underwriting: the area is not among the top quartile nationally for safety today, but incremental declines in estimated offense rates suggest conditions are moving in a favorable direction. Operators may prioritize visible security measures and community engagement to support retention and reputation.
The immediate area benefits from a diversified corporate employment base that supports workforce housing demand and commute convenience. Key nearby employers include Kimberly-Clark, Express Scripts, Celanese, American Airlines Group, and Exxon Mobil.
- Kimberly-Clark — corporate offices (3.3 miles) — HQ
- Express Scripts — corporate offices (3.5 miles)
- Celanese — corporate offices (3.6 miles) — HQ
- American Airlines Group — corporate offices (4.0 miles) — HQ
- Exxon Mobil — corporate offices (4.6 miles) — HQ
This 92-unit asset at 2700 W Irving Blvd is positioned in an Irving inner-suburb neighborhood with renter-heavy housing and above-median occupancy, supporting demand durability and leasing stability. According to CRE market data from WDSuite, neighborhood rents and amenity access align with workforce housing dynamics, while rising incomes within a 3-mile radius point to a gradually strengthening tenant profile and a larger renter pool over time.
The 1984 vintage suggests a clear value-add thesis through targeted capital improvements to systems and common areas, which can enhance competitiveness versus similar-era properties. Elevated ownership costs relative to neighborhood incomes reinforce reliance on rental housing, and nearby corporate employers deepen the prospective tenant base. Key risks to monitor include below-average school scores and safety metrics that trail national percentiles, along with signs of recent occupancy softening from prior highs.
- Renter-heavy neighborhood with above-median occupancy supports leasing stability
- 1984 vintage offers practical value-add through targeted CapEx and modernization
- Expanding 3-mile renter pool and rising incomes strengthen demand fundamentals
- Proximity to major corporate employers underpins steady tenant demand
- Risks: below-average school ratings, safety metrics below national medians, and potential occupancy softness