| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 79th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6505 Shirley Ave, Austin, TX, 78752, US |
| Region / Metro | Austin |
| Year of Construction | 1986 |
| Units | 38 |
| Transaction Date | 2006-01-04 |
| Transaction Price | $1,200,000 |
| Buyer | TEXCEL CROCKETT LP LLC |
| Seller | TEXCEL LP LLC |
6505 Shirley Ave Austin Multifamily Investment Opportunity
In an amenity-rich inner suburb with a high renter base, neighborhood occupancy has been resilient according to WDSuite’s CRE market data, supporting steady multifamily demand at the property level.
Situated in Austin’s Inner Suburb fabric, the neighborhood is ranked 21st out of 527 metro neighborhoods—top tier among Austin peers—supported by an A+ neighborhood rating and strong daily-life convenience. Dining and café density sits in the top percentiles nationally, with restaurants and coffee options among the most concentrated in the metro, while grocery access is also strong. Parks are above average for open-space access; pharmacy access is limited locally, which owners may note when considering resident services or delivery partnerships.
For investors, the renter-occupied share is high (about 69% of housing units), indicating depth in the tenant base and consistent leasing activity. Neighborhood occupancy around 93% has trended up over the last five years, suggesting stable absorption and retention dynamics relative to broader Austin cycles, based on CRE market data from WDSuite. Median rents in the neighborhood test above many U.S. locations, but a rent-to-income ratio near 0.20 points to manageable affordability pressure that can support lease stability with disciplined renewal management.
The property’s 1986 vintage is slightly older than the neighborhood’s average 1991 construction year, which implies potential capital planning around modernization and value-add features to stay competitive against newer stock. Elevated home values (with neighborhood measures high relative to national norms) and a higher value-to-income ratio indicate a high-cost ownership market, which typically sustains reliance on multifamily housing and supports pricing power when operations are well executed.
Within a 3-mile radius, demographics show modest population growth over the past five years alongside a larger increase in household counts, signaling smaller average household sizes and a broader leasing pool. Households are projected to expand further by 2028, with rising median incomes that can support demand for well-managed rentals. This combination—high renter concentration, strong amenity access, and expanding households—positions the area competitively among Austin neighborhoods for long-term multifamily performance.
Safety indicators are mixed and should be underwritten carefully. The neighborhood’s crime rank is 439th out of 527 metro neighborhoods, indicating higher incident levels than many Austin peers. Relative to neighborhoods nationwide, violent and property offense measures sit in low percentiles (i.e., less favorable), placing the area below national averages for safety.
Recent trend signals show year-over-year increases in both property offenses and violent offenses. For multifamily operations, investors often account for these dynamics with practical measures such as lighting, controlled access, and resident engagement, and by aligning security planning with local enforcement trends. As always, compare submarket and immediate-block conditions during due diligence rather than relying solely on metro-level context.
Proximity to established employers supports commuter convenience and a broad renter pool, including roles across beverages, industrial gases, grocery headquarters, software, and insurance. The following nearby employers illustrate the diversified base that can underpin leasing and retention.
- Coca-Cola — beverages (3.4 miles)
- Airgas — industrial gases (3.9 miles)
- Whole Foods Market — grocery retail & corporate (4.6 miles) — HQ
- Adobe — software (4.8 miles)
- New York Life — insurance (5.0 miles)
6505 Shirley Ave benefits from a high renter concentration, top-tier neighborhood standing within the Austin metro, and strong amenity access that sustains daily-life convenience—drivers that tend to support occupancy stability and renewal performance. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the last five years while rent-to-income metrics remain moderate, reinforcing demand without signaling acute affordability pressure. Elevated ownership costs nearby further support multifamily reliance and pricing power when paired with disciplined operations.
Built in 1986, the asset is slightly older than the local average 1991 vintage—creating a clear value-add path through selective renovations and modernization to compete against newer product. Within a 3-mile radius, household growth and rising incomes point to a broader tenant base ahead. Key underwriting considerations include local safety trends and average school ratings; both are manageable with appropriate capital planning, marketing, and resident-service strategies.
- High renter-occupied share and improving neighborhood occupancy support steady tenant demand
- Amenity-rich Inner Suburb location with top-tier metro ranking aids retention and leasing velocity
- 1986 vintage offers value-add potential to enhance competitiveness versus newer stock
- Elevated ownership costs nearby reinforce reliance on rentals and potential pricing power
- Risks: below-average safety metrics and average school ratings warrant targeted operational strategies