| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 27th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8930 Galewood Dr, Austin, TX, 78758, US |
| Region / Metro | Austin |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 2021-03-04 |
| Transaction Price | $3,362,500 |
| Buyer | INKUEE V LLC |
| Seller | GALEWOOD VILLAGE APARTMENTS LLC |
8930 Galewood Dr Austin Multifamily Investment
Renter concentration is high in this Urban Core neighborhood, and elevated ownership costs support sustained multifamily demand, according to WDSuite’s CRE market data. Investors should underwrite steady leasing potential with attention to rent-to-income management.
Situated in Austin’s Urban Core, the area offers everyday convenience with strong grocery and dining access while broader neighborhood quality sits below the metro median (C- rating among 527 metro neighborhoods). Grocery density is top quartile nationally and restaurants are competitive, but parks, pharmacies, and cafes are limited, shaping the resident lifestyle and amenity expectations.
For multifamily, the share of renter-occupied housing is elevated (top national tier), indicating a deep tenant base and durable leasing funnel. Neighborhood occupancy is moderate rather than exceptional, so operators should focus on retention and operational execution to stabilize cash flow.
Within a 3-mile radius, households have been increasing and are projected to expand further, with average household size trending smaller. This points to a larger tenant base over time and supports demand for smaller floor plans, aiding occupancy stability and lease-up velocity. Household incomes have risen meaningfully over recent years, improving the ability to support rent growth where value is delivered.
Home values are high relative to incomes compared with many U.S. neighborhoods, reinforcing reliance on rental options and supporting pricing power when units are well-positioned. Balance this with local rent-to-income pressure by emphasizing value, service, and renewal strategies. These dynamics, based on commercial real estate analysis from WDSuite, translate into steady workforce-driven demand with disciplined revenue management.
Safety indicators trend weaker than national norms, with violent and property offense levels comparing below average nationally. At the metro level, the neighborhood ranks below the median among 527 Austin-area neighborhoods, signaling that investors should plan for proactive security and resident-engagement measures.
That said, recent year-over-year declines in both violent and property offenses, as reflected in WDSuite data, point to improving momentum. Positioning the asset with lighting upgrades, access control, and community standards can help support retention and leasing performance while monitoring trends over time.
Nearby employment is diverse across beverages, industrial gases, software, financial services, and manufacturing, supporting a broad renter pool and commute-friendly housing options for the workforce referenced below.
- Coca-Cola — beverages (1.27 miles)
- Airgas — industrial gases (1.99 miles)
- Adobe — software (2.44 miles)
- New York Life — financial services (5.07 miles)
- Arconic — manufacturing (6.46 miles) — HQ
This 48-unit asset was built in 1980, slightly newer than much of the surrounding 1970s stock, positioning it competitively versus older inventory while still offering potential renovation and systems upgrades to drive rents and retention. The neighborhood’s renter-occupied share sits in the top national tier, creating a deep tenant base. Occupancy at the neighborhood level is moderate, so execution—unit turns, renewals, and expense control—will be central to stable NOI. High-cost homeownership conditions in the area support rental demand and pricing power when value is clear, as indicated by CRE market data from WDSuite.
Within a 3-mile radius, households have been growing and are expected to continue expanding, with smaller average household sizes pointing to sustained demand for studios and one-bedrooms. Rising incomes support rent growth potential, but rent-to-income pressure and amenity gaps require thoughtful positioning and resident services to maintain lease stability.
- 1980 vintage offers value-add and modernization upside versus older nearby stock
- High renter-occupied share indicates a deep tenant base supporting leasing
- Household growth within 3 miles and smaller household sizes support demand for smaller units
- Ownership costs are elevated relative to incomes, reinforcing multifamily demand
- Risks: below-metro safety indicators, moderate neighborhood occupancy