| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 89th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6008 N Lamar Blvd, Austin, TX, 78752, US |
| Region / Metro | Austin |
| Year of Construction | 1975 |
| Units | 61 |
| Transaction Date | 2023-05-25 |
| Transaction Price | $13,965,000 |
| Buyer | CENTRAL HOUSING LP |
| Seller | CENTRAL PROPERTIES |
6008 N Lamar Blvd Austin Multifamily Opportunity
Neighborhood occupancy remains strong with tight vacancies and durable renter demand, according to WDSuite’s CRE market data. Elevated ownership costs in this part of Austin support lease retention potential and pricing discipline for stabilized assets.
This Inner Suburb location scores well for day-to-day convenience and tenant appeal. Restaurants are dense (top decile nationally), with grocery, parks, pharmacies, and childcare access also testing well above national medians. Within the Austin metro, the area’s overall amenity score ranks 37th of 527 neighborhoods, signaling competitive positioning for multifamily assets.
Renter fundamentals are favorable. Neighborhood occupancy trends near 98% (top-quartile nationally), while the share of renter-occupied housing suggests a deep tenant base locally and within the broader 3-mile radius, where renter concentration is higher and supports ongoing leasing velocity. Median contract rent levels sit above national norms yet remain aligned with local incomes, with a rent-to-income profile that helps manage retention risk during renewals.
Home values in the neighborhood are elevated (95th percentile nationally), creating a high-cost ownership market that tends to reinforce reliance on multifamily housing. For investors, this dynamic can underpin demand stability and modest pricing power, especially for well-maintained or renovated units.
Demographic statistics aggregated within a 3-mile radius show steady population growth over the last five years and an even faster increase in households, indicating smaller average household sizes and a larger renter pool over time. These trends, coupled with above-average school ratings and strong amenities, point to durable long-term demand in this submarket based on commercial real estate analysis from WDSuite.
Safety indicators are mixed and should be incorporated into underwriting and property operations planning. The neighborhood’s overall crime rank sits below the metro median (341st of 527), and national comparisons place both violent and property offense rates in lower safety percentiles. That said, estimated property offenses improved year over year, with a double‑digit decline that suggests recent directional progress.
For investors, this argues for prudent security measures and tenant engagement programs to support retention, while recognizing that safety performance can vary by corridor and management approach. Framing risk comparatively rather than block-by-block remains appropriate at the neighborhood scale.
Proximity to established corporate offices supports a broad workforce tenant base and commute convenience, reinforcing leasing durability for workforce and mid-market units. Nearby employers include Coca-Cola, Airgas, Whole Foods Market, New York Life, and Adobe.
- Coca-Cola — beverage offices (3.6 miles)
- Airgas — industrial gases & supplies (4.2 miles)
- Whole Foods Market — grocery corporate offices (4.3 miles) — HQ
- New York Life — insurance (4.8 miles)
- Adobe — software (5.0 miles)
6008 N Lamar Blvd is positioned in a high-amenity Inner Suburb of Austin with strong neighborhood occupancy and a sizable renter base. Median home values in the 95th national percentile create a high-cost ownership backdrop that helps sustain multifamily demand and supports pricing power for well-run properties. According to CRE market data from WDSuite, local occupancy trends and rent-to-income balance point to durable leasing and manageable retention risk.
Built in 1975, the asset is older than the neighborhood average vintage, suggesting clear value‑add and capital planning opportunities to modernize interiors, systems, and common areas. Demographic statistics aggregated within a 3‑mile radius show growth in households and rising incomes, indicating a larger tenant base over time. These trends, along with strong amenity access and employer proximity, support a long-term thesis focused on renovation upside and stabilized cash flow.
- Tight neighborhood occupancy and balanced rent-to-income support lease stability
- High-cost ownership market reinforces reliance on rental housing and pricing power
- 1975 vintage offers value-add potential through targeted renovations and system updates
- 3-mile household growth and employer proximity expand the renter pool over time
- Risks: neighborhood safety ranks below metro median; plan for security/CapEx in underwriting