| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 69th | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3504 Alpine Cir, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 59 |
| Transaction Date | 2015-05-29 |
| Transaction Price | $6,135,000 |
| Buyer | EG USA Soco LLC |
| Seller | 3504 Alpine Circle LLC & 3508 Alpine Circle, Corporation, 512 Realty, PriceCash Equivalent Price/sf |
3508 Alpine Cir Austin Multifamily Investment
Inner-suburb Austin location with strong renter concentration supports demand and retention, according to WDSuite’s CRE market data. Neighborhood occupancy trends are resilient for the metro, with pricing influenced by a high-cost ownership market.
Located in Austin’s inner suburbs, the property sits in a neighborhood rated A (ranked 71 of 527 metro neighborhoods), indicating competitive fundamentals within the Austin-Round Rock-Georgetown market. Neighborhood occupancy is 94.9% (70th percentile nationally), suggesting stable leasing conditions across nearby assets rather than at this specific property.
Renter-occupied share is 60.2% (94th percentile nationally), signaling a deep tenant base that tends to support steady absorption and renewals. Median contract rent in the neighborhood stands near the mid-$1,500s with five-year growth, while the rent-to-income ratio around 0.17 points to manageable affordability pressure that can aid retention and reduce turnover risk.
Amenities are mixed inside the neighborhood’s boundaries: grocery and pharmacy access ranks near the top among Austin neighborhoods and in the high national percentiles, while parks and cafes are limited within the neighborhood itself. For schools, the available neighborhood-level rating data are limited in this area; investors may wish to evaluate specific attendance zones when relevant to their strategy.
Within a 3-mile radius, demographics show a growing renter pool: households increased over the past five years and are projected to rise further by 2028, even as average household size trends lower—together implying more households entering the market and supporting multifamily demand. High median home values locally (top decile nationally) indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support lease-up and retention for well-positioned assets.
The asset’s 1972 construction is older than the neighborhood’s average vintage (2003), pointing to potential value-add or capital planning opportunities. Updating interiors, systems, or common areas could enhance competitive positioning against newer stock while targeting durable renter demand in this submarket.
Safety signals are mixed. Compared with other Austin neighborhoods, this area ranks above the metro average for safety (rank 446 out of 527), yet national percentiles indicate crime levels below national averages (around the 10th–20th percentiles for violent and property offenses). This suggests comparatively stronger positioning within the metro but a more moderate profile versus neighborhoods nationwide.
Recent data also indicate a year-over-year uptick in reported violent offenses alongside a smaller increase in property offenses. Investors may factor this into security planning, lighting, and access controls to support tenant retention and operational performance.
Proximity to major employers underpins workforce housing demand and commute convenience for residents. Nearby employment nodes include Oracle, Whole Foods Market, State Farm, New York Life, and Coca-Cola, supporting a diversified white-collar tenant base.
- Oracle Waterfront — technology offices (2.67 miles)
- Whole Foods Market — corporate offices (2.89 miles) — HQ
- State Farm Insurance — insurance (7.05 miles)
- New York Life — insurance (8.86 miles)
- Coca-Cola — consumer goods offices (10.58 miles)
3508 Alpine Cir offers exposure to an A-rated inner-suburb Austin neighborhood with resilient occupancy and a high renter concentration that supports a deep tenant base. Elevated home values in the area reinforce reliance on multifamily housing, aiding pricing power and lease retention. According to CRE market data from WDSuite, neighborhood-level occupancy sits in the upper national percentiles, while rent-to-income levels suggest manageable affordability pressure that can support consistent collections.
Built in 1972, the property is older than the neighborhood average, creating clear value-add pathways through renovations and system upgrades to compete with newer stock. Demographic trends within a 3-mile radius—rising household counts and a projected increase by 2028—point to ongoing renter pool expansion, which can bolster absorption and stabilize performance through cycles. Key risks to underwrite include mixed safety readings at the national scale and limited park/cafe density inside neighborhood boundaries.
- A-rated neighborhood with resilient occupancy and strong renter demand
- High-cost ownership market supports multifamily reliance and retention
- 1972 vintage presents value-add and modernization potential versus newer stock
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: below-national safety percentiles and limited parks/cafes inside neighborhood