| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 67th | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2403 Brown Blvd, Arlington, TX, 76006, US |
| Region / Metro | Arlington |
| Year of Construction | 1982 |
| Units | 91 |
| Transaction Date | 2016-08-26 |
| Transaction Price | $6,225,000 |
| Buyer | NAPA VENTURES WOODBRIDGE LLC |
| Seller | NAP/SPRINGMAN FUND XII LP |
2403 Brown Blvd Arlington Multifamily Investment
High renter-occupied concentration in the surrounding neighborhood and steady, near-midpoint occupancy suggest durable tenant demand, according to WDSuites CRE market data.
Located in Arlingtons Urban Core, the property sits in a neighborhood rated A and competitive among Fort WorthArlingtonGrapevine neighborhoods (rank 79 of 561). Neighborhood occupancy trends sit near the national midpoint, while a large base of renter-occupied housing units supports depth of demand.
Amenity access is a local strength: grocery and cafe density are each in the top quartile among metro neighborhoods (ranks 54 and 64 out of 561) and compare favorably to national benchmarks. Park access is also competitive (rank 72 of 561), reinforcing day-to-day livability for renters.
Within a 3-mile radius, population and household counts have grown over the past five years, with additional gains projected, pointing to a larger tenant base over time. The areas renter-occupied share is high, which typically supports leasing velocity and renewal depth for multifamily assets.
Ownership costs in the neighborhood are elevated relative to local incomes in parts of the metro, which can sustain reliance on rental housing and support pricing power. Median rent levels and the rent-to-income profile indicate manageable affordability pressure overall; investors should monitor leasing strategies to preserve retention as rents evolve.
The average neighborhood construction year is 1991, while this assets 1982 vintage is older than nearby stock. That positioning can present value-add potential through targeted renovations and systems upgrades to enhance competitive standing against newer properties.
Safety metrics for the neighborhood trend below national medians, and performance ranks in the lower half among Fort WorthArlingtonGrapevine neighborhoods (overall crime rank 441 of 561). Recent momentum is mixed: violent offense rates show a slight year-over-year improvement, while property offenses have edged up. Investors typically underwrite for enhanced on-site security, lighting, and loss assumptions, and weigh management practices accordingly.
Proximity to major employers provides a stable commuter base and supports multifamily renter demand, led by American Airlines Group, Express Scripts, GameStop, Kimberly-Clark, and Celanese.
- American Airlines Group airlines HQ & operations (3.6 miles) HQ
- Express Scripts pharmacy benefits (3.6 miles)
- Gamestop retail & e-commerce (8.9 miles) HQ
- Kimberly-Clark consumer products (9.4 miles) HQ
- Celanese chemicals (9.8 miles) HQ
This 91-unit, 1982-vintage property benefits from a high concentration of renter-occupied housing in the immediate neighborhood, competitive urban-core amenities, and proximity to several blue‑chip employers that help sustain a broad commuter tenant base. Neighborhood occupancy is around the national midpoint, and rent levels have shown meaningful growth over recent years, supporting a case for steady cash flow with careful lease management and renewal strategies.
The vintage creates a clear value‑add pathway: updates to interiors, common areas, and aging systems can improve competitive positioning versus the areas generally newer stock. According to CRE market data from WDSuite, local homeownership costs and renter demand fundamentals continue to reinforce reliance on multifamily, while demographics within 3 miles point to ongoing renter pool expansion. Key risks include neighborhood safety that trails metro averages and the need to budget for capital projects typical of early‑1980s construction.
- High renter-occupied share and commuter access support demand depth and leasing stability.
- Amenity-rich Urban Core location with top-quartile access to groceries, cafes, and parks in the metro.
- 1982 vintage presents value-add potential through targeted renovations and system upgrades.
- Household and population growth within 3 miles indicate a larger tenant base over time.
- Risks: below-median safety metrics and capex needs; underwrite for security, maintenance, and prudent loss assumptions.