| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 44th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2606 Wheless Ln, Austin, TX, 78723, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2606 Wheless Ln Austin Multifamily Investment Opportunity
Neighborhood occupancy appears resilient with a deep renter base, according to WDSuite’s CRE market data, supporting steady leasing for a 70-unit, 1972-vintage asset in Austin’s urban core.
The property is positioned in Austin’s Urban Core, where neighborhood-level occupancy (not property-specific) trends above the national mid-point and has improved over the past five years, based on CRE market data from WDSuite. Median contract rents sit modestly above national tendencies, suggesting workable pricing power with strong operations.
Livability inputs are mixed. Grocery access ranks in the top decile nationally, and restaurant density is competitive versus many U.S. neighborhoods. By comparison, parks, pharmacies, cafes, and childcare are limited within neighborhood bounds, placing overall amenity density below the metro median among 527 Austin neighborhoods. Net-net, the area supports everyday convenience but is less likely to command premium, amenity-led rent surcharges.
Tenure skews renter-occupied at the neighborhood level and sits in the top quartile nationally for renter concentration. For multifamily investors, that typically indicates a deeper tenant base, supports occupancy stability, and can aid lease-up and retention during normal market cycles.
Within a 3-mile radius, population has grown in recent years and households have increased faster, signaling smaller household sizes and a larger renter pool. Forward-looking WDSuite demographics indicate additional household growth by 2028, which can translate into sustained demand for rental units. Elevated home values relative to national norms and a high value-to-income environment characterize a high-cost ownership market, which generally sustains reliance on rentals and can support lease retention. The subject’s 1972 vintage is older than the neighborhood’s 1980s average, implying value-add and capital planning opportunities to remain competitive versus newer stock.
Safety indicators for the neighborhood sit below the metro median among 527 Austin neighborhoods and fall in lower national percentiles, according to WDSuite’s CRE market data. Violent and property offense measures trail national averages; however, the most recent readings show year-over-year improvement in property-related incidents, a constructive trend to monitor during underwriting and operations.
Practical implications include budgeting for security measures and loss mitigation. Offsetting factors are the neighborhood’s renter demand drivers and improving property-crime trend, which can help support leasing stability when paired with proactive management.
Proximity to established employers supports workforce renter demand and commute convenience. Key nearby nodes include Airgas, Whole Foods Market, Oracle Waterfront, Coca-Cola, and Adobe.
- Airgas — industrial gases & supplies (4.9 miles)
- Whole Foods Market — corporate offices (5.0 miles) — HQ
- Oracle Waterfront — technology offices (5.1 miles)
- Coca-Cola — beverage distribution & offices (5.7 miles)
- Adobe — software offices (6.8 miles)
2606 Wheless Ln offers scale at 70 units with neighborhood fundamentals that favor renter demand. The area’s renter-occupied share ranks among the nation’s stronger concentrations, and neighborhood occupancy has improved over five years, supporting durable leasing. Within a 3-mile radius, recent population gains and faster household growth point to a larger tenant base and potential for steady absorption. Elevated ownership costs relative to income reinforce reliance on rentals, which can aid retention and stabilize cash flows across cycles.
Built in 1972, the asset is older than the neighborhood average, creating clear value-add and capital planning pathways to enhance competitiveness versus newer stock. According to CRE market data from WDSuite, grocery access is a relative strength while broader amenity density and safety trends warrant conservative underwriting. This balance positions the asset for operations-focused upside with disciplined expense management and targeted renovations.
- Deep renter base and improving neighborhood occupancy support leasing stability
- 1972 vintage creates value-add potential through targeted renovations and systems upgrades
- High-cost ownership landscape reinforces rental demand and can aid retention
- Risks: below-metro-median safety metrics and limited amenity density require prudent underwriting and security planning