| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 52nd | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 709 W 22nd St, Austin, TX, 78705, US |
| Region / Metro | Austin |
| Year of Construction | 2006 |
| Units | 28 |
| Transaction Date | 2005-05-03 |
| Transaction Price | $22,001,900 |
| Buyer | WEST CAMPUS PARTNERS LP |
| Seller | SV WEST CAMPUS LP |
709 W 22nd St Austin Multifamily Investment Opportunity
Urban Core location with a deep renter base and strong neighborhood amenity access supports leasing durability, according to WDSuite’s commercial real estate analysis. Neighborhood metrics point to improving occupancy momentum and resilient renter demand drivers rather than outsized rent growth.
The property sits in Austin’s Urban Core, rated B+ and competitive among 527 Austin neighborhoods (ranked 141), with amenity access that ranks in the top quartile locally (71 of 527). Nationally, the neighborhood’s amenity access is above average, supported by very high restaurant and grocery density (both well above the national median), which helps reinforce day-to-day convenience for residents.
For investors, renter concentration is a key signal: approximately 77.5% of neighborhood housing units are renter-occupied (top percentile nationally). This depth of the tenant base typically supports marketing efficiency, faster lease-up, and more consistent renewal activity across cycles.
Within a 3-mile radius, demographics indicate population growth over recent years and a notable increase in households, with forecasts calling for further household expansion and smaller average household sizes. These shifts suggest a larger renter pool over time and demand for smaller-format units, supporting occupancy stability for multifamily assets.
Neighborhood housing measures are above the national median, while median home values sit well above national norms. In practice, this high-cost ownership environment sustains reliance on multifamily rentals and can support pricing power, provided operators balance rent levels with retention-focused lease management. School ratings in the neighborhood are strong (top-ranked locally), adding to livability for a range of renter profiles.
The area’s construction vintage skews older than the subject’s 2006 build. Being newer than the neighborhood average (1983) positions the asset competitively versus older stock, while investors should still plan for selective modernization and systems upgrades as the property moves through its next lifecycle phase.
Safety indicators for the neighborhood are below national and metro averages. The area ranks 441 out of 527 Austin neighborhoods on crime, indicating higher incident rates relative to much of the metro, and it sits in a lower national safety percentile. Recent data also show a modest year-over-year uptick in both property and violent offenses. Investors typically account for this with targeted security measures, lighting, access control, and operating practices that support resident comfort and retention.
As always, crime can vary block to block and over time. Evaluating on-the-ground conditions, recent trends, and comparable properties nearby can help calibrate operating budgets and capital plans for safety-related improvements.
Proximity to major employers helps underpin weekday demand and renewal prospects, especially for workforce and professional renters. Nearby anchors include Whole Foods Market, Oracle, New York Life, Coca-Cola, and Adobe.
- Whole Foods Market — grocery retail (1.1 miles) — HQ
- Oracle Waterfront — enterprise software (3.2 miles)
- New York Life — insurance (5.8 miles)
- Coca-Cola — beverage (6.7 miles)
- Adobe — software (8.1 miles)
709 W 22nd St offers a 2006 vintage in an Urban Core neighborhood where renter-occupied units dominate and amenity access is strong. This combination typically supports steady leasing, with household growth and a rising share of smaller households within a 3-mile radius signaling ongoing renter pool expansion and demand for efficient unit types. Elevated ownership costs in the area further reinforce reliance on multifamily housing.
According to CRE market data from WDSuite, neighborhood occupancy has improved over the past several years, while local restaurant and grocery density ranks high nationally. The asset’s relatively newer construction compared with nearby stock can be leveraged through targeted value-add and modernization to maintain competitive positioning against both older properties and new deliveries.
- Urban Core location with above-average amenity access supports leasing durability
- Deep renter base and 3-mile household growth point to sustained demand
- 2006 construction offers competitive edge versus older neighborhood stock
- High-cost ownership market reinforces multifamily reliance and pricing power
- Risk: Below-average safety metrics warrant security-focused operations and CapEx planning