| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 27th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1814 Colony Creek Dr, Austin, TX, 78758, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | 2023-07-21 |
| Transaction Price | $4,867,800 |
| Buyer | COLONY CREEK APARTMENTS LLC |
| Seller | CIELO AT BURNET LLC |
1814 Colony Creek Dr Austin 48-Unit Multifamily
High renter concentration in the surrounding neighborhood and a high-cost ownership landscape point to durable renter demand, according to WDSuite’s CRE market data. Positioning as attainable workforce housing may support occupancy and leasing resilience in North Austin.
Located in Austin’s Urban Core near North Lamar, the property benefits from a renter-oriented neighborhood profile: renter-occupied housing share is very high (top percentile nationally), signaling depth in the tenant base and potential demand stability for multifamily owners. Neighborhood occupancy trends sit below the metro median, so asset-level execution and unit mix strategy remain important for maintaining lease-up velocity and retention.
Everyday convenience is supported by strong grocery access (high national percentile) and a solid cluster of restaurants, while park and café density are comparatively limited. For investors, this mix suggests reliable daily-needs traffic with fewer lifestyle amenities immediately nearby—favorable for workforce positioning but less so for premium, amenity-driven branding.
Within a 3-mile radius, households have increased meaningfully over the last five years while average household size has trended smaller, expanding the pool of prospective renters and supporting occupancy stability. Forward-looking projections indicate continued household growth with smaller household sizes, which can add to near-term leasing depth even if population growth remains modest.
Home values are elevated relative to local incomes (high value-to-income ratio), reinforcing reliance on multifamily housing and supporting pricing power when paired with effective lease management. Median rents in the 3-mile area have risen materially over five years, which helps revenue growth but also raises affordability pressure—a consideration for renewal strategy and concession discipline. The asset’s 1984 vintage is newer than the neighborhood average stock from the late 1970s, offering a competitive edge versus older product while still warranting attention to aging systems and selective modernization. These observations are based on commercial real estate analysis using WDSuite data.
Safety indicators for the neighborhood track below national medians, placing the area in a less-safe cohort compared with many U.S. neighborhoods. However, recent year-over-year trends show improving trajectories in both violent and property offense rates, suggesting risk is moderating from prior levels. Investors should underwrite with prudent security measures and tenant-screening protocols, while recognizing that downward trends can support retention and asset performance over time.
Within the Austin-Round Rock-Georgetown metro, the neighborhood ranks in the lower half for safety relative to the 527 tracked neighborhoods, while nationally it falls in lower percentiles for both violent and property offenses. The directional improvement is a constructive signal, but underwriting should still reflect a conservative approach to operating expenses and insurance.
Proximity to established employers supports a stable renter base and commute convenience, particularly for workforce tenants. Nearby corporate offices include Coca-Cola, Airgas, Adobe, Arconic, and Dell Technologies.
- Coca-Cola — corporate offices (1.1 miles)
- Airgas — industrial gases & distribution (1.9 miles)
- Adobe — software (2.2 miles)
- Arconic — metals & manufacturing (6.3 miles) — HQ
- Dell Technologies — technology (8.4 miles) — HQ
1814 Colony Creek Dr offers exposure to a renter-heavy pocket of North Austin where elevated ownership costs sustain multifamily demand. Based on CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, but the surrounding renter concentration and growth in households within a 3-mile radius indicate a sizable tenant pipeline. The 1984 vintage is newer than much of the area’s late-1970s stock, suggesting relative competitiveness versus older product while still calling for targeted capital planning on aging systems.
Household growth, smaller average household sizes, and rising rents in the nearby area support revenue potential, while the high value-to-income backdrop underpins reliance on rentals. Key risks include affordability pressure (elevated rent-to-income ratios) and safety metrics that, while improving, remain below national medians—both warrant conservative underwriting and active asset management.
- Renter-heavy neighborhood supports deep tenant base and leasing stability
- 1984 vintage offers competitive positioning versus older local stock with value-add potential
- 3-mile household growth and smaller household sizes expand the renter pool
- Elevated ownership costs reinforce multifamily demand and pricing power
- Risks: below-median safety indicators and affordability pressure require disciplined operations