| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 69th | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3508 Alpine Cir, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 35 |
| Transaction Date | 2011-01-31 |
| Transaction Price | $1,131,200 |
| Buyer | EG USA SOCO LLC |
| Seller | 3508 ALPINE CIRCLE LLC |
3508 Alpine Cir Austin Multifamily Value-Add Opportunity
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for smaller-unit assets in South Austin. Elevated ownership costs in the area reinforce reliance on rentals, aiding retention and leasing consistency.
Situated in Austin’s Inner Suburb fabric, the immediate neighborhood posts an A rating and ranks 71 out of 527 metro neighborhoods, placing it in the top quartile locally for overall investment appeal. Restaurants and daily-needs access are a strength: the area sits high among Austin peers for grocery and pharmacy density while dining options are competitive nationally. By contrast, park and cafe density within the neighborhood boundaries are limited, suggesting resident recreation and third-space demand may be met in adjacent districts.
For multifamily fundamentals, the neighborhood-level occupancy is 94.9% (70th percentile nationally), signaling durable demand and supporting income stability through cycles, based on CRE market data from WDSuite. The renter concentration at the neighborhood level is 60.2% of housing units being renter-occupied (94th percentile nationally), indicating a sizable tenant base and deeper leasing pools for studios and smaller formats.
Within a 3-mile radius, demographics point to a growing and increasingly affluent renter pool. Households increased 17.1% over the past five years and are projected to rise further by 2028, while average household size is trending smaller—factors that typically expand demand for smaller units and support occupancy. Median contract rents in the 3-mile area track in the mid-$1,500s today with further growth projected, aligning with solid neighborhood incomes and aiding revenue management for well-positioned assets.
Home values in the neighborhood are elevated relative to incomes (nationally high percentile for value-to-income), which sustains renter reliance on multifamily housing and can bolster lease retention and pricing power for competitive assets. School rating data in the immediate area is limited; investors may underwrite conservatively on family-driven demand and lean into proximity to employment, amenities, and urban connectivity as primary drivers.
Vintage and positioning: The asset’s 1972 construction skews older than the neighborhood’s newer-average building stock (2003). This supports a clear value-add or modernization angle—targeted capex toward interiors, systems, and curb appeal can sharpen competitive positioning against newer deliveries while maintaining a cost basis below recent construction.
Safety indicators trail both national and metro averages for this neighborhood. Compared with neighborhoods nationwide, the area sits in lower national percentiles for both violent and property offenses, and within the Austin metro it ranks in the less favorable cohort among 527 neighborhoods. Year-over-year readings show a recent uptick, so investors should incorporate prudent assumptions for security measures, insurance, and tenant communications.
As always, block-level conditions can vary. A site visit, engagement with local property managers, and trend monitoring can help calibrate underwriting and operating plans to current on-the-ground conditions.
Proximity to major corporate offices underpins renter demand and commute convenience in South Austin. The nearby employment base includes Oracle Waterfront, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola—supporting stable leasing from professionals seeking urban access.
- Oracle Waterfront — corporate offices (2.7 miles)
- Whole Foods Market — corporate offices (2.9 miles) — HQ
- State Farm Insurance — corporate offices (7.0 miles)
- New York Life — corporate offices (8.9 miles)
- Coca-Cola — corporate offices (10.6 miles)
3508 Alpine Cir combines durable neighborhood demand with a clear value-add path. Neighborhood occupancy is 94.9% and renter-occupied housing is materially above national norms, pointing to depth in the tenant base and support for steady collections. Elevated home values relative to incomes reinforce reliance on rentals, while strong access to groceries, pharmacies, and restaurants enhances day-to-day livability. According to WDSuite’s commercial real estate analysis, the submarket’s standing within the Austin metro sits in the top quartile, consistent with solid leasing prospects for well-managed assets.
The 1972 vintage is older than the area’s average building stock, creating opportunities to modernize interiors and key systems to close the gap with newer supply. Within a 3-mile radius, households have expanded and are projected to rise further by 2028, with smaller average household sizes—dynamics that generally favor studios and small-format units like those at this property. Investors should balance these strengths with prudent allowances for security, capex, and amenity strategy.
- Occupancy near mid-90s and high renter concentration support leasing stability
- Elevated ownership costs sustain rental demand and potential pricing power
- 1972 vintage offers value-add upside through interior and systems upgrades
- Amenity access strong for groceries, pharmacies, and dining; limited parks/cafes locally
- Risks: safety metrics lag metro and capex needs higher than newer stock