| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 44th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1800 Patton Ln, Austin, TX, 78723, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | 2013-11-14 |
| Transaction Price | $2,340,900 |
| Buyer | NORTHEAST AUSTIN PROPERTIES LLC |
| Seller | FOLEY PROPERTY ASSETS LLC |
1800 Patton Ln Austin Multifamily Value-Add Opportunity
Neighborhood fundamentals point to a deep renter pool and steady occupancy at the area level, according to WDSuite’s CRE market data, supporting consistent leasing for workforce-oriented units.
Situated in Austin’s Urban Core, the property benefits from a renter-driven neighborhood and metro connectivity that supports workforce housing demand. The neighborhood’s occupancy has trended upward over the past five years, and the share of renter-occupied housing units is elevated—indicating a broad tenant base and potential for stable lease-up and renewals at the neighborhood level.
Amenity access is mixed: grocery availability is strong (competitive nationally), while parks, pharmacies, and cafes are less dense locally. For investors, this balance suggests daily-needs convenience that aids retention, with fewer lifestyle amenities nearby to command premium rents. Restaurant density is moderate relative to national norms.
Construction year is 1972, older than the neighborhood’s average vintage. This positions the asset for value-add through renovations and system upgrades, with capital planning important for unit interiors and building systems to remain competitive against newer stock.
Within a 3-mile radius, demographics show population growth and a notable increase in households, pointing to a larger tenant base over time. Elevated home values in the neighborhood—relative to many U.S. areas—signal a high-cost ownership market that can sustain rental demand and support occupancy stability. Rent-to-income ratios at the neighborhood level appear manageable by national comparison, which can aid lease retention and limit turnover pressure.
Safety indicators are mixed when compared with Austin metro neighborhoods and national patterns. Based on neighborhood rankings among 527 Austin-area neighborhoods, crime levels sit below the metro median, indicating investors should underwrite enhanced property management and security measures. Nationally, the area performs below average on safety percentiles; however, recent data show property offenses declining year over year, an encouraging directional trend for operational risk.
In practical terms, this means underwriting should account for proactive operations (lighting, access control, and community standards) while recognizing that improving property-crime trends may help support leasing stability over the medium term.
Proximity to diverse employers in corporate services and technology supports commuter convenience and helps deepen the renter pool, with nearby roles spanning industrial gases, beverages, grocery headquarters, software, and enterprise tech.
- Airgas — industrial gases (4.2 miles)
- Coca-Cola — beverage operations (5.0 miles)
- Whole Foods Market — grocery corporate offices (5.1 miles) — HQ
- Oracle Waterfront — software campus (5.6 miles)
- Adobe — cloud software (6.1 miles)
This 40-unit asset built in 1972 offers a classic value-add profile in a renter-oriented Austin neighborhood. Neighborhood occupancy has improved over the past five years, and elevated renter concentration suggests depth of demand for smaller, workforce-focused units. Elevated ownership costs nearby reinforce reliance on multifamily housing, while grocery access supports daily convenience that can aid retention. According to CRE market data from WDSuite, neighborhood-level rents relative to incomes appear manageable nationally, supporting steady lease performance.
Demographics aggregated within a 3-mile radius indicate recent population growth and a sizable increase in households, pointing to ongoing renter pool expansion. Given the property’s older vintage, investors can target renovations and building system upgrades to drive competitive positioning, while underwriting prudent operating controls due to below-median safety rankings in the metro context.
- Renter-driven neighborhood with improving occupancy trends supporting leasing stability
- 1972 vintage provides clear value-add and capex upgrade pathways
- High-cost ownership market reinforces multifamily demand and retention potential
- Daily-needs access (strong grocery presence) supports resident convenience
- Risks: below-median safety vs. metro peers; limited park/pharmacy/cafe density; plan for proactive operations