| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2818 Nueces St, Austin, TX, 78705, US |
| Region / Metro | Austin |
| Year of Construction | 1984 |
| Units | 32 |
| Transaction Date | 2008-08-28 |
| Transaction Price | $3,237,500 |
| Buyer | FORTY ACRE PROPERTY MANAGEMENT LLC |
| Seller | ESCALA AT NUECES II LLC |
2818 Nueces St Austin Multifamily Investment
Amenity-rich Urban Core location with a deep renter base and improving neighborhood occupancy, according to WDSuite’s CRE market data. Strong neighborhood income potential supports investor focus on stabilized operations over the medium term.
Located in Austin’s Urban Core, the neighborhood offers dense daily conveniences and student- and professional-oriented amenities that support leasing velocity. Cafes, restaurants, and grocery options are concentrated here, with these amenities ranking among the strongest in the metro and testing high national percentiles, based on WDSuite’s multifamily property research.
Neighborhood fundamentals point to steady renter demand. The share of housing units that are renter-occupied is very high, indicating a broad tenant base for multifamily operators and supporting consistent leasing. Neighborhood occupancy has trended higher over the past five years, and median contract rents sit above many U.S. peers, reinforcing the area’s ability to sustain in-place rent levels when managed carefully.
Education access is a relative strength: average school ratings in the neighborhood test at the top of national comparisons, an unusual combination for an Urban Core location and a plus for retention among households prioritizing school quality. Parks access also compares favorably versus national peers.
Within a 3-mile radius, demographics show population growth alongside a faster increase in households, pointing to smaller household sizes and a larger pool of renters over time. This trend, paired with a high-cost ownership landscape locally, underpins multifamily demand depth and can support occupancy stability and pricing discipline.
Safety outcomes in this neighborhood are weaker than metro and national norms. Rank position within the Austin-Round Rock-Georgetown metro places the area below the metro median for safety among 527 neighborhoods, and national comparisons indicate it falls below the national median as well.
Recent trend signals show year-over-year upticks in both violent and property offenses. For investors, this suggests the need for prudent security measures, active property management, and tenant engagement to support retention and asset performance. Comparisons should be made against peer Urban Core locations when underwriting.
Nearby employment includes headquarters and major corporate offices that draw a large professional workforce and support renter demand through commute convenience: Whole Foods Market, Oracle Waterfront, New York Life, Coca-Cola, and Airgas.
- Whole Foods Market — grocery HQ (1.7 miles) — HQ
- Oracle Waterfront — enterprise software offices (3.8 miles)
- New York Life — insurance (5.3 miles)
- Coca-Cola — beverages (6.0 miles)
- Airgas — industrial gases (6.8 miles)
This 32-unit property, built in 1984, sits in an amenity-dense Urban Core neighborhood where renter-occupied housing is the dominant tenure, creating depth in the tenant pool. Neighborhood occupancy has improved over the last five years, and NOI per unit performance ranks near the top among 527 metro neighborhoods, indicating strong income potential when operations are executed well. The 1984 vintage suggests investors should plan for targeted modernization and system updates to reinforce competitive positioning against newer stock.
Within a 3-mile radius, population has expanded and households have grown faster still, signaling a larger renter base and support for leasing stability. Elevated ownership costs locally further reinforce reliance on multifamily housing, while rent levels above many national peers reward disciplined leasing and renewal management. According to commercial real estate analysis from WDSuite, these fundamentals align with a medium-term hold focused on stable occupancy and measured rent growth, balanced by proactive expense and capital planning.
- Amenity-rich Urban Core location with strong daily convenience and lifestyle drivers
- Deep renter-occupied housing base supports tenant demand and leasing stability
- NOI per unit performance competitive at the metro level, supporting income durability
- 1984 vintage offers value-add potential via selective renovations and system upgrades
- Risks: below-median safety metrics and affordability pressure require active management and prudent underwriting