| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 58th | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4821 E Riverside Dr, Austin, TX, 78741, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 81 |
| Transaction Date | 2014-03-01 |
| Transaction Price | $8,505,000 |
| Buyer | 4821 East Riverside Drive LLC |
| Seller | 4823 E Riverside Drive LLC |
4821 E Riverside Dr Austin Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data, with a notably high renter concentration supporting depth of tenant prospects.
The property sits in Austin’s Inner Suburb fabric, where the neighborhood earns a B- rating and places competitive among Austin-Round Rock-Georgetown neighborhoods (263 of 527). Renter-occupied housing is a defining feature locally, with the neighborhood’s renter concentration ranking near the top nationally, which supports a deeper tenant base and more consistent leasing.
Daily-needs access is serviceable rather than destination-driven: grocery and pharmacy density track above national averages, while cafes, restaurants, and parks are limited in the immediate neighborhood. That mix tends to favor workforce-oriented demand over lifestyle-driven premiums and suggests marketing should emphasize commute convenience and value rather than amenity-led premiums.
On rents and occupancy, neighborhood rent levels sit above national medians while occupancy trends remain stable and slightly above national norms. For ownership alternatives, elevated home values in the area indicate a higher-cost ownership market, which can reinforce reliance on multifamily housing and support pricing power when paired with careful lease management.
Within a 3-mile radius, demographics indicate a larger renter pool over time: despite a recent period of modest population softening, household counts increased and are forecast to grow further, with smaller average household sizes. This points to more one- and two-person households entering the market and supports absorption in mid-size units like the property’s average 646 sf layouts. These trends are based on CRE market data from WDSuite for the surrounding area and tie directly to depth of demand and occupancy stability.
Vintage context matters: the asset was built in 1972, while the neighborhood’s average construction skew is newer (around 1990). The older vintage implies prudent capital planning for systems and interiors and suggests potential value-add repositioning to compete effectively against more recent stock.
Safety metrics for the neighborhood are mixed. Compared with neighborhoods nationwide, indicators place this area below average on safety; within the Austin metro, it falls in the lower half among 527 neighborhoods. Recent trends show improvement, with both property and violent incident rates easing year over year, which investors can weigh as a directional positive rather than a guarantee.
For underwriting, frame safety as a comparative factor: emphasize lighting, access control, and resident engagement to support retention, and benchmark expected loss and insurance assumptions to metro peers rather than block-level anecdotes. All interpretations reflect neighborhood-level data, not conditions specific to the property.
The immediate area draws from nearby corporate offices that support commuter convenience and steady renter demand, including Oracle Waterfront, Whole Foods Market, State Farm Insurance, New York Life, and Coca-Cola — all within practical driving range.
- Oracle Waterfront — tech campus (0.89 miles)
- Whole Foods Market — grocery HQ & corporate offices (3.45 miles) — HQ
- State Farm Insurance — insurance offices (9.65 miles)
- New York Life — insurance offices (9.82 miles)
- Coca-Cola — beverage offices (10.36 miles)
4821 E Riverside Dr is an 81-unit, 1972-vintage asset positioned in a renter-heavy Austin neighborhood where occupancy trends have been resilient and the local renter base is deep. Elevated ownership costs nearby help sustain reliance on rentals, while household growth within a 3-mile radius and smaller household sizes point to continued depth for one- and two-bedroom demand. According to WDSuite’s multifamily property research, neighborhood rents sit above national norms while occupancy remains steady, underscoring a case for durable cash flow with disciplined lease and expense management.
The older vintage relative to the neighborhood’s predominantly 1990-era stock suggests clear value-add upside through systems modernization and interior refreshes to improve competitive positioning against newer assets. Safety metrics are below national averages but trending in a positive direction year over year; underwriting should incorporate prudent insurance and security planning alongside ROI-focused renovations.
- Renter-heavy neighborhood supports tenant base depth and occupancy stability
- Household growth and smaller sizes within 3 miles bolster demand for mid-size units
- Elevated ownership costs locally reinforce reliance on multifamily rentals and pricing power
- 1972 vintage offers value-add potential via systems and interior upgrades
- Risk: safety metrics below national averages; mitigate through security, capex, and conservative underwriting