6-Unit Apartment
For Sale
Contact for pricing
5624 Woodrow Avenue, Austin, TX 78756
Central Austin infill six-unit property with 4,800 SF and stated 12% rent upside potential.
Property Size4,800 SF
Price / SF$165.63
Days on Market39
Property Features for 5624 Woodrow Avenue
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multifamily
Net Operating Income
$26,034
Additional Details
Multifamily Units
6
Building Details
Units
6
Listing Agency:
Matthews
Listed By:
Andrew Kopenec · License #746316-SA
Source:
Crexi
Added: Jul 23
Changed: Aug 23
Last Checked: Aug 29 at 7:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This is a 6-unit central Austin infill apartment property offered for sale. The asset has a stated 4,800 SF size and is positioned for upside, with public remarks citing 12% rent upside potential.
The property is located at 5624 Woodrow Avenue in Austin, Texas (78756).
The property is located at 5624 Woodrow Avenue in Austin, Texas (78756).
Key Highlights
- 6‑unit apartment building
- 4,800 SF property size
- Central Austin infill location
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,171
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,303,420
$1.3M
Cap Rate 7%
$931,014
$931.0K
Cap Rate 9%
$724,122
$724.1K
Market Conditions
NOI Build-Up for 4,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$125.0K $26.04/SF
− Vacancy
−$6.5K −$1.35/SF
EGI
$118.5K $24.69/SF
− OpEx
−$53.3K −$11.11/SF
NOI
$65.2K $13.58/SF
Area
Austin, TX
Vacancy
5.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,303,420
Cap Rate 7%
$931,014
Cap Rate 9%
$724,122
Alternative Uses
Best Use
Apartment 5plus
$931.0K
$814.6K – $1.09M
NOI $65,171 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,667 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 78756, TX
8,426
Population
4,943
Households
1.7
Avg Household Size
37
Median Age
71%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
4,956
Density / Sq Mi
$97,149
Median Household Income
$56,515
Median Earnings
$1,383
Median Rent
$788,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Central Austin infill six-unit property with 4,800 SF and stated 12% rent upside potential.
Where is this apartment building located?
The property is located at 5624 Woodrow Avenue Austin, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 6‑unit apartment building; 4,800 SF property size; Central Austin infill location
