| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 66th | Good |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 805 S Center St, Austin, TX, 78704, US |
| Region / Metro | Austin |
| Year of Construction | 1982 |
| Units | 44 |
| Transaction Date | 2007-02-07 |
| Transaction Price | $1,456,300 |
| Buyer | SHARMIK LP |
| Seller | NELSON MATT B |
805 S Center St Austin Multifamily Investment
Positioned in Austin’s 78704 urban core, the asset benefits from steady neighborhood occupancy and a deep renter base that supports leasing durability, according to WDSuite’s CRE market data.
The immediate neighborhood is rated B and sits in Austin’s Urban Core, competitive among 527 metro neighborhoods with a rank of 235. Neighborhood occupancy is 93.7%, and renter-occupied housing accounts for 60.8% of units—both indicating a sizable tenant base and generally stable lease-up dynamics in this pocket of the metro, based on CRE market data from WDSuite.
Parks are a standout strength here: park density ranks 7th of 527 in the metro (top quartile nationally), offering lifestyle appeal that can aid retention. Dining access is competitive (79th national percentile for restaurants), while everyday retail inside the defined neighborhood boundary is thinner, suggesting residents rely on nearby corridors for groceries and pharmacies.
At the property level, the 1982 vintage is older than the neighborhood’s average construction year of 1999. That positioning can support a value-add or modernization plan to enhance competitiveness versus newer stock, while investors should budget for systems and interior upgrades as part of long-term capital planning.
Within a 3-mile radius, household counts have risen over the past five years and are projected to increase further, even as average household size trends smaller. This dynamic points to a larger tenant base over time and supports occupancy stability for smaller-format units. Elevated home values in the neighborhood (93rd national percentile) and a high value-to-income ratio (97th percentile) indicate a high-cost ownership market, which helps sustain reliance on rental housing. Meanwhile, a rent-to-income ratio near 0.23 suggests manageable rent levels locally, supporting renewal prospects and pricing discipline for operators.
School ratings average around 2.0 out of 5 (37th national percentile), which may matter for family-oriented renters; however, the area’s park access and proximity to employment cores continue to anchor demand from working professionals.
Neighborhood safety compares below the national median (39th percentile), but recent year-over-year declines in both violent and property offenses point to improving conditions. For investors, this trend supports leasing confidence when paired with strong site-level measures such as lighting and access control.
Within the Austin-Round Rock-Georgetown metro, the area’s crime positioning sits near the regional middle among 527 neighborhoods. Monitoring trends and standard risk management practices remain prudent, without the need for extraordinary interventions.
Proximity to major employers in central and south Austin supports workforce renter demand and commute convenience, led by Whole Foods Market, Oracle Waterfront, State Farm Insurance, New York Life, and Coca-Cola.
- Whole Foods Market — grocery (3.0 miles) — HQ
- Oracle Waterfront — technology campus (3.1 miles)
- State Farm Insurance — insurance offices (6.6 miles)
- New York Life — insurance offices (8.7 miles)
- Coca-Cola — consumer beverages offices (10.6 miles)
805 S Center St is a 44-unit multifamily asset in Austin’s 78704 with neighborhood occupancy in the mid-90s and a high renter-occupied share, supporting depth of demand and day-one leasing stability. The 1982 vintage is older than the local average, creating a straightforward path for value-add upgrades to improve competitive standing versus newer product. Elevated ownership costs in the surrounding neighborhood reinforce renter reliance on multifamily housing, while household growth within a 3-mile radius—amid smaller household sizes—points to a gradually expanding tenant base.
According to CRE market data from WDSuite, restaurant density and park access are local strengths that help with renter appeal and retention, while safety metrics have improved year over year. Operators should still plan for disciplined asset management and capital planning given the property’s age and the neighborhood’s below-national-median safety standing.
- Established renter base and mid-90s neighborhood occupancy support stable leasing
- 1982 vintage offers value-add and modernization upside versus newer competition
- High-cost ownership environment sustains rental demand and renewal resilience
- Park access and dining density enhance retention and day-to-day livability
- Risk: below-national-median safety; continue standard security and community engagement