| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 50th | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8017 Gessner Dr, Austin, TX, 78753, US |
| Region / Metro | Austin |
| Year of Construction | 1978 |
| Units | 44 |
| Transaction Date | 2009-12-30 |
| Transaction Price | $1,239,100 |
| Buyer | H PINE INC |
| Seller | T DAN 44 LLC |
8017 Gessner Dr Austin Multifamily Value-Add
Strong neighborhood occupancy and a deep renter base point to stable leasing, according to WDSuite’s CRE market data, while vintage positioning suggests a practical value-add path.
Located in Austin’s Inner Suburb, the area around 8017 Gessner Dr shows characteristics that support workforce and attainable housing demand. Neighborhood occupancy is in the top decile nationally, indicating resilient leasing fundamentals through cycles, per WDSuite’s CRE market data. A very high share of housing units are renter-occupied at the neighborhood level, which signals a broad tenant pool and ongoing demand depth for multifamily product rather than single-family alternatives.
Livability is mixed: restaurant and grocery density rank in the upper tiers nationally, offering everyday convenience and dining options, while cafes, parks, and pharmacies are comparatively sparse. School quality signals are limited at the neighborhood level, which may matter less for studios and smaller formats but can influence retention for larger units.
Construction year for the property is 1978, modestly older than the neighborhood average stock. For investors, that typically implies prioritizing capital planning for systems and interiors, with value-add or modernization potential to improve competitive positioning against newer assets.
Within a 3-mile radius, demographic data indicate households have been increasing and are projected to expand further, even as average household size trends smaller. This points to a larger tenant base over time and supports occupancy stability. Median home values are elevated relative to local incomes, suggesting a high-cost ownership market that sustains reliance on rentals; however, rent-to-income levels imply some affordability pressure, which puts a premium on thoughtful lease management and renewals.
Neighborhood safety metrics sit below national averages, with violent and property offense rates in lower national percentiles compared with neighborhoods nationwide. Recent data show year-over-year declines in both categories, indicating some improvement trends, according to WDSuite’s CRE market data. For underwriting, this typically translates to prudent security measures and careful tenant screening assumptions, while recognizing that many Austin submarkets exhibit similar urban safety dynamics.
Nearby corporate offices help anchor employment and support renter demand through commute convenience. Key employers within typical commuting distance include Airgas, Coca-Cola, Adobe, New York Life, and Whole Foods Market.
- Airgas — industrial gases & supplies (2.7 miles)
- Coca-Cola — beverages & distribution (3.0 miles)
- Adobe — software & cloud offices (4.2 miles)
- New York Life — insurance (5.9 miles)
- Whole Foods Market — corporate offices (5.9 miles) — HQ
This 44-unit 1978 asset aligns with a neighborhood showing top-tier occupancy and a high concentration of renter-occupied housing units, supporting steady demand for smaller formats. Elevated ownership costs relative to income reinforce reliance on rentals, while 3-mile demographic trends point to more households and a gradually expanding renter pool. According to CRE market data from WDSuite, neighborhood occupancy trends remain strong versus national benchmarks, and restaurant/grocery access contributes to day-to-day convenience. The property’s older vintage suggests a focused value-add plan can enhance competitiveness and capture durable tenant demand.
Key considerations include below-average safety metrics and pockets of affordability pressure, which argue for disciplined operations: measured rent growth, resident retention strategies, and pragmatic capital planning aimed at durability and unit livability.
- High neighborhood occupancy and deep renter base support leasing stability
- 1978 vintage offers value-add potential through systems/interior upgrades
- Elevated ownership costs in the area sustain multifamily demand
- Daily convenience from strong restaurant and grocery access
- Risks: below-average safety signals and affordability pressure require disciplined leasing and expense control