| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 27th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9133 Northgate Blvd, Austin, TX, 78758, US |
| Region / Metro | Austin |
| Year of Construction | 1983 |
| Units | 44 |
| Transaction Date | 2012-11-12 |
| Transaction Price | $1,197,000 |
| Buyer | JOSEPH COMPANIES-9133 NORTHGATE LLC |
| Seller | ZION CAPITAL 2 LLC |
9133 Northgate Blvd, Austin TX Multifamily Investment
High renter concentration in the surrounding neighborhood supports a stable tenant base, according to WDSuite’s CRE market data, with local ownership costs more likely to keep households in rentals.
Located in Austin’s Urban Core, the neighborhood rates C- (ranked 442 of 527 metro neighborhoods), indicating mixed fundamentals that still attract workforce renters. Neighborhood occupancy is 89.7% (neighborhood metric, not the property), suggesting leasing stability with room for operational upside on turnovers and renewals.
Renter-occupied share in the neighborhood is about 76% (top national percentile), signaling a deep renter pool for a 44-unit asset. At the same time, the neighborhood’s rent-to-income ratio points to affordability pressure, so revenue management and retention strategies remain important for minimizing concessions and reducing exposure to skipped or short leases.
Everyday amenities skew practical: strong grocery access compared with national norms and a solid restaurant presence, while parks, cafes, childcare, and pharmacies are relatively limited within the immediate area. For investors, this mix supports workforce housing demand but may temper lifestyle-driven premiums absent targeted property upgrades.
The asset’s 1983 vintage is newer than the neighborhood’s average 1977 construction year, which can enhance competitive positioning versus older stock. Nonetheless, systems and common areas may warrant selective modernization to align with renter expectations and to capture value-add rent lifts.
Within a 3-mile radius (aggregated demographics), households increased by roughly 13% over the past five years and are projected to expand further alongside smaller average household sizes. This combination points to a larger tenant base and supports occupancy stability for well-managed properties.
Home values in the neighborhood sit above many national markets, contributing to a high-cost ownership environment. That context generally sustains reliance on multifamily rentals and can support lease retention where product quality and management execution are strong.
Safety indicators for the neighborhood trail national averages, reflecting a higher incidence of both property and violent offenses relative to many U.S. neighborhoods. Within the Austin metro (527 neighborhoods), the area falls in the lower half on crime measures, which investors should underwrite via security, lighting, and resident engagement.
Recent year-over-year trends show improvement, with declines in both property and violent offense rates. While these gains are constructive, underwriting should remain conservative and assume continued investment in safety measures to support resident retention and leasing velocity.
Nearby corporate nodes provide a diversified employment base that supports renter demand and commute convenience for workforce tenants, including Coca-Cola, Airgas, Adobe, New York Life, and Arconic.
- Coca-Cola — beverages (1.1 miles)
- Airgas — industrial gases (1.9 miles)
- Adobe — software (2.1 miles)
- New York Life — insurance (5.1 miles)
- Arconic — metals manufacturing (6.2 miles) — HQ
This 44-unit, 1983-vintage asset sits in a renter-dense Austin neighborhood where grocery access and restaurant density help underpin daily-life convenience, while a high-cost ownership landscape reinforces reliance on multifamily housing. Neighborhood occupancy around 90% (neighborhood metric, not the property) suggests stable leasing dynamics, with operational upside through refreshes and disciplined revenue management.
Within a 3-mile radius, a growing household base and smaller average household sizes point to a larger, more rental-reliant tenant pool over the next cycle. Based on commercial real estate analysis from WDSuite, the property’s slightly newer-than-average vintage can compete well against older stock, though targeted capex for systems and common-area upgrades should be expected. Key risks include affordability pressure in the immediate neighborhood and below-average safety indicators, which warrant conservative underwriting and active management.
- Renter-heavy neighborhood supports steady tenant base and leasing stability
- 1983 vintage offers competitive edge versus older stock with value-add potential
- 3-mile household growth and smaller household sizes expand the renter pool
- Elevated ownership costs in the area reinforce multifamily demand and retention
- Risks: affordability pressure and below-average safety require disciplined operations