| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 44th | Poor |
| Amenities | 25th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6707 Berkman Dr, Austin, TX, 78723, US |
| Region / Metro | Austin |
| Year of Construction | 1972 |
| Units | 41 |
| Transaction Date | 2019-02-26 |
| Transaction Price | $2,493,800 |
| Buyer | RPC MUELLER POINT LLC |
| Seller | 6707 APARTMENTS LLC |
6707 Berkman Dr Austin Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, with a renter-occupied share near two-thirds and occupancy around the low-90s according to WDSuite’s CRE market data.
Located in Austin’s Urban Core, the neighborhood is rated C and shows occupancy around 92.9%, placing it slightly above the national median (59th percentile) per WDSuite. Neighborhood rents have grown over the last five years, while the rent-to-income ratio of roughly 0.20 indicates moderate affordability pressure that can support retention and lease management.
Daily convenience is a relative strength: grocery access ranks in the 90th percentile nationally, while restaurants sit near the 63rd percentile. Café, park, and pharmacy density are thinner within the neighborhood itself, so on-site amenities or partnerships can help offset those gaps and support leasing.
Tenure skews renter-occupied at the neighborhood level (about 61% of housing units), and within a 3-mile radius, renter concentration is higher still (roughly 65%). This depth of renter households suggests a broad tenant base and supports occupancy durability for multifamily assets, a point reinforced by WDSuite’s commercial real estate analysis.
Within a 3-mile radius, households increased materially over the past five years and are projected to continue expanding through the forecast period, while incomes have advanced meaningfully. Elevated home values relative to incomes (national 82nd and 86th percentiles, respectively) signal a high-cost ownership market, which tends to reinforce reliance on rental housing and underpins pricing power for well-positioned properties.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1984). Investors should plan for capital improvements to building systems and interiors; that same vintage profile can also present value-add potential to reposition toward current renter preferences.
Safety indicators are mixed. The neighborhood sits below the national median for safety overall (around the 33rd percentile nationwide), with violent and property crime measures in lower national percentiles. At the same time, WDSuite data shows property offenses declining year over year, which is a constructive directional trend to monitor.
For underwriting, consider enhanced security measures and resident engagement as part of operating plans, and benchmark incident trends against comparable Austin submarkets to calibrate risk and insurance assumptions.
Proximity to established corporate offices supports a diverse employment base and commute convenience that can aid tenant retention, including operations in industrial gases, beverages, grocery HQ, enterprise software, and tech.
- Airgas — industrial gases (4.2 miles)
- Coca-Cola — beverages (4.9 miles)
- Whole Foods Market — grocery corporate (5.1 miles) — HQ
- Oracle Waterfront — enterprise software offices (5.6 miles)
- Adobe — software (6.0 miles)
This 41-unit, 1972-vintage asset benefits from a deep renter base and neighborhood occupancy that trends above the national median, while grocery and restaurant access provide day-to-day convenience that supports leasing. Elevated ownership costs relative to incomes in the area bolster reliance on multifamily, helping sustain demand and pricing power for renovated product.
According to CRE market data from WDSuite, neighborhood rent levels and a roughly 0.20 rent-to-income ratio suggest manageable affordability pressure, which can aid retention when paired with disciplined renewals. The older vintage implies near-term capital planning but also clear value-add potential to capture demand from the growing household base within a 3-mile radius.
- Renter-heavy neighborhood and occupancy above the national median support demand durability.
- Elevated home values versus incomes reinforce multifamily reliance and pricing power.
- Value-add upside: 1972 vintage with scope for systems, exterior, and interior upgrades.
- Convenience tailwinds from strong grocery and solid restaurant access aid leasing.
- Risks: below-median safety metrics and thinner café/park density warrant security and amenity strategies.