| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 97th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2119 S Lamar Blvd, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1973 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2119 S Lamar Blvd, Austin — South Lamar Multifamily Position
Renter demand is supported by high neighborhood occupancy and strong incomes nearby, according to WDSuite’s CRE market data. The area’s elevated ownership costs point to steady apartment absorption rather than displacement into for-sale housing.
Located along South Lamar in Austin’s inner suburb fabric, the property sits in a neighborhood rated A+ and ranked near the top among 527 Austin metro neighborhoods. That standing reflects deep amenities, high educational attainment, and durable demand drivers that have historically supported leasing stability.
Amenities are a clear strength: restaurant density sits in the 97th percentile nationally, with cafes and pharmacies also testing in the upper percentiles. While park access is limited in the immediate area, daily-needs retail and services remain close by, which helps underpin resident convenience and reduces turnover risk.
For investors evaluating renter depth, nearby signals are favorable. Neighborhood occupancy is high and has trended upward in recent years; renter-occupied housing makes up roughly half of units in the immediate area and a larger share within a 3‑mile radius, indicating a deep tenant base for multifamily. Within that same 3‑mile radius, households have increased and are projected to expand further over the next five years, which supports future absorption and leasing continuity.
Affordability dynamics also favor rentals. The neighborhood’s median home values are elevated versus national norms, and household incomes are strong. In combination, these factors reinforce reliance on multifamily housing and support pricing power without overextending rent-to-income ratios. Average school ratings score at the top of national comparisons, which can aid retention among residents seeking longer tenure.
Safety metrics are mixed. Compared with neighborhoods nationwide, the area scores below the national median for safety, and within the Austin metro it sits below the metro average (ranked in the lower half among 527 neighborhoods). Property-related offenses have eased year over year, while violent offense measures have been less favorable recently. Investors should underwrite with standard precautions, emphasize on-site security design, and monitor trend direction rather than any single-year reading.
Proximity to major employers supports a broad commuter tenant base and leasing resilience, with a concentration in grocery headquarters, tech, and corporate services that aligns with workforce housing demand.
- Whole Foods Market — grocery HQ and corporate offices (1.98 miles) — HQ
- Oracle Waterfront — enterprise software (3.02 miles)
- State Farm Insurance — insurance services (7.02 miles)
- New York Life — insurance and financial services (7.59 miles)
- Coca-Cola — consumer beverages corporate office (9.54 miles)
The South Lamar location pairs high neighborhood occupancy with strong incomes and elevated for-sale housing costs, supporting a durable demand profile for rentals. According to commercial real estate analysis from WDSuite, the surrounding neighborhood ranks near the top of the Austin metro and posts nationally strong amenity and school metrics, which can aid retention and stabilize leasing through cycles.
Built in 1973, the asset is older than the neighborhood’s average vintage, suggesting practical value‑add angles around unit modernization, building systems, and common‑area updates. Within a 3‑mile radius, household growth and a sizable renter-occupied share point to a broadening tenant base, while moderate rent-to-income dynamics help manage renewal risk. Underwriting should account for capital planning consistent with the vintage and for local safety trends that have shown mixed movement.
- High neighborhood occupancy and top-tier metro standing support leasing stability
- Strong nearby incomes and elevated ownership costs reinforce multifamily demand
- 1973 vintage offers value-add potential via interiors and systems upgrades
- 3-mile household growth expands the tenant base and supports absorption
- Risks: aging building capex and mixed safety trends warrant conservative underwriting