| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 69th | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 412 W Alpine Rd, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1981 |
| Units | 25 |
| Transaction Date | 2018-03-28 |
| Transaction Price | $2,747,000 |
| Buyer | 412 COVFEFE LLC |
| Seller | ALPINE WEST APRTMENTS LLC |
412 W Alpine Rd Austin Multifamily Investment
Positioned in Austin’s inner-south market, the asset benefits from a deep renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data. Elevated nearby home values favor sustained apartment demand, supporting income durability for a 25-unit property.
The surrounding neighborhood rates strongly for daily needs and lifestyle access. Grocery and pharmacy availability ranks in the 99th percentile nationally, and restaurant density sits in the mid-90s, while cafes and park space are limited. For investors, this mix indicates convenient essentials that help retention, balanced by fewer third spaces that may modestly temper lifestyle-driven premiums.
Among 527 Austin metro neighborhoods, overall amenities are competitive, landing in the top quartile. Neighborhood occupancy is solid (about the 70th percentile nationally), suggesting demand resilience even as supply cycles change. Median home values are in the low-90s national percentile, creating a high-cost ownership market that tends to reinforce reliance on multifamily housing and support pricing power when lease management is disciplined.
Renter-occupied share is elevated relative to national norms (mid-90s percentile), signaling depth in the tenant pool and a broad base for leasing. Within a 3-mile radius, households expanded over the last five years and are projected to increase further by 2028, growing the renter pool and supporting occupancy stability. Median incomes have also risen, which can aid collections and reduce turnover risk when units are positioned appropriately through value-add or remerchandising.
The property’s 1981 vintage is older than nearby stock (neighborhood average skews 2000s), pointing to value-add potential through interior upgrades, system modernization, and common-area enhancements. For multifamily property research, owners should align capex with unit size and target demographic to capture rent steps without overcapitalizing relative to competing renovated product.
Safety indicators benchmark below many U.S. neighborhoods, with national percentiles on the lower end for both property and violent offenses. Recent year-over-year readings show increases in reported violent incidents, while property offenses also moved higher. Investors should underwrite prudent security measures, lighting, and access controls, and compare claims history and operating protocols to peer assets in Austin to calibrate loss expectations.
At the metro level, conditions vary across nearby areas; the takeaway is to budget appropriately and monitor trend data, tenant mix, and incident reporting cadence. Comps with professional on-site management and active engagement with local resources often demonstrate steadier outcomes over the hold period.
The area draws from a diverse employment base that supports renter demand and commute convenience, anchored by technology, retail headquarters, and diversified corporate offices. Nearby employers include Oracle Waterfront, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola.
- Oracle Waterfront — technology offices (2.8 miles)
- Whole Foods Market — grocer corporate (2.9 miles) — HQ
- State Farm Insurance — insurance offices (7.0 miles)
- New York Life — insurance offices (8.8 miles)
- Coca-Cola — beverage offices (10.6 miles)
This 25-unit asset in Austin’s inner-south corridor is supported by strong neighborhood fundamentals: a deep renter-occupied base, robust access to groceries and pharmacies, and stable occupancy relative to national benchmarks. Elevated home values in the area tend to sustain reliance on rentals, providing a foundation for pricing power when operations emphasize renewals and targeted upgrades.
The 1981 vintage is earlier than the neighborhood’s 2000s average, creating a straightforward value-add path through kitchens, baths, finishes, and building systems that can reposition smaller units for today’s renter profile. According to WDSuite’s commercial real estate analysis, neighborhood occupancy and demand drivers compare favorably to many U.S. locations, although safety underwriting and capex planning should remain central to the business plan.
- Deep renter base and steady neighborhood occupancy support income stability
- High ownership costs nearby reinforce multifamily demand and leasing velocity
- Value-add potential: 1981 vintage versus 2000s neighborhood stock
- Amenity access (grocery, pharmacy, dining) aids retention and renewal strategy
- Risks: below-average safety benchmarks; budget for security, insurance, and capex