| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 62nd | Fair |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2414 Ventura Dr, Austin, TX, 78741, US |
| Region / Metro | Austin |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2011-12-14 |
| Transaction Price | $1,250,000 |
| Buyer | VENTURA DRIVE 2414 LLC |
| Seller | AITKEN RONALD |
2414 Ventura Dr Austin Multifamily Investment
Steady neighborhood occupancy and a high renter-occupied share signal durable demand near East Riverside, according to WDSuite’s CRE market data. Elevated ownership costs in Austin reinforce renter reliance, supporting lease retention and cash flow consistency.
The property sits in an Inner Suburb cluster that is competitive among Austin neighborhoods (ranked 207 of 527, B rating). Neighborhood occupancy is above the metro median with recent stability, while a high renter-occupied share indicates a deep tenant base that supports leasing velocity and renewal rates, based on WDSuite’s CRE market data.
Everyday amenities are serviceable: grocery access is a relative strength (high national percentile), and restaurant options are solid. Cafes, parks, and pharmacies are less dense locally, so residents may travel slightly farther for these needs. For families, nearby school ratings appear limited; investors should underwrite resident preferences accordingly.
Within a 3-mile radius, demographics indicate smaller average household sizes and a substantial share of young adults, which can support demand for efficient layouts and studios. Over the last five years, population in the 3-mile area softened while household counts increased, pointing to smaller household sizes and a still-growing renter pool. Looking ahead, WDSuite’s projections show households expanding by 2028, which would broaden the local tenant base and support occupancy stability.
Home values in the neighborhood are elevated relative to incomes (above national norms), which tends to sustain multifamily demand as more households remain renters. Neighborhood rent-to-income sits at a level consistent with manageable affordability pressure, aiding retention while leaving room for disciplined revenue management.
Vintage and asset positioning: Built in 1973, the asset is older than the neighborhood’s average construction year. Investors should plan for ongoing capital expenditures and consider targeted renovations to enhance competitiveness versus newer stock, while leveraging the area’s renter depth and occupancy backdrop.
Safety metrics for this neighborhood track below metro and national averages, indicating higher crime exposure than many Austin submarkets. That said, year-over-year trends show meaningful declines in both property and violent incident rates, suggesting recent improvement. Investors should incorporate prudent security measures and underwriting cushions while acknowledging the positive direction of change.
Proximity to major employers supports workforce housing demand and commute convenience, which can help leasing and retention. Key nearby employers include Oracle Waterfront, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola.
- Oracle Waterfront — corporate offices (2.0 miles)
- Whole Foods Market — corporate offices (3.9 miles) — HQ
- State Farm Insurance — insurance (8.5 miles)
- New York Life — insurance (10.2 miles)
- Coca-Cola — corporate offices (11.3 miles)
2414 Ventura Dr offers exposure to an Austin neighborhood with above-median occupancy, a high share of renter-occupied units, and strong grocery/restaurant access that supports day-to-day livability. The 1973 vintage suggests clear value-add and capital planning opportunities to improve unit finishes and building systems relative to newer competitive stock. According to CRE market data from WDSuite, elevated home values and manageable rent-to-income levels reinforce rental demand and help support retention.
Within a 3-mile radius, household counts have been rising and are projected to expand further by 2028, implying a larger tenant base even as average household sizes trend smaller. This backdrop, combined with proximity to major employers, supports occupancy stability and provides room for disciplined rent strategies, while safety and older-vintage considerations warrant conservative underwriting.
- Above-median neighborhood occupancy and deep renter base support leasing stability
- 1973 vintage provides value-add potential via renovations and system upgrades
- Elevated ownership costs sustain multifamily demand and bolster retention
- 3-mile households projected to grow, expanding the tenant pool and supporting NOI
- Risks: below-average safety metrics and older systems call for prudent capital reserves