| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 27th | Poor |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2501 Park Blvd, Odessa, TX, 79763, US |
| Region / Metro | Odessa |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2010-08-27 |
| Transaction Price | $105,000 |
| Buyer | VASQUEZ RUBEN |
| Seller | TAYLOR JERAL BRUCE |
2501 Park Blvd, Odessa TX Multifamily Investment
Neighborhood occupancy sits in the high-80s with a renter-occupied share above the metro median, pointing to a stable tenant base, according to WDSuite’s CRE market data. Pricing power may be moderate, but steady demand supports consistent leasing for a 20-unit asset.
This inner-suburb location in Odessa balances everyday convenience with practical rent levels for workforce renters. Neighborhood occupancy trends are in the high-80s and have softened modestly over five years, while the renter-occupied share sits above the metro median—together indicating a meaningful pool of prospective tenants and generally steady lease-ups, based on CRE market data from WDSuite.
Local amenity density is mixed: parks and green space score well relative to national peers, and grocery access is competitive among Odessa neighborhoods, while cafes, childcare, and pharmacies are less prevalent. For investors, that pattern supports day-to-day livability without commanding premium rents, which can aid retention in more value-oriented properties.
The building’s 1976 vintage is slightly older than the neighborhood average, which implies potential capital planning around unit interiors and systems. That also creates value-add options to improve competitive positioning versus newer stock, especially if common-area and in-unit updates can capture incremental rent while remaining aligned with the submarket’s affordability profile.
Within a 3-mile radius, recent years show a modest decline in population alongside a small increase in households, and forecasts point to continued household growth with smaller average household sizes. For multifamily demand, this suggests a broader tenant base for smaller units and supports occupancy stability even as overall population moderates. Home values in the area sit below national norms, which can create some competition from entry-level ownership; however, the above-median renter concentration and practical rent-to-income dynamics help sustain renter reliance on multifamily housing.
Safety indicators for the neighborhood track around the metro middle when compared with 39 Odessa neighborhoods. Nationally, the area sits below the mid-range, but recent year-over-year trends show declines in both violent and property offenses, according to WDSuite’s CRE market data.
For investors, the key takeaway is directional improvement from last year alongside a risk profile that is comparable to many working-class inner-suburb locations. Sensible on-site measures and lighting can further support resident comfort and retention without materially altering the operating thesis.
This 20-unit asset offers exposure to a renter-heavy pocket of Odessa where neighborhood occupancy remains resilient and amenity access is practical for day-to-day living. The 1976 construction year signals straightforward value-add potential—targeted interior updates and system refreshes can enhance competitiveness while maintaining an attainable rent profile. According to WDSuite’s CRE market data, the neighborhood’s renter-occupied share sits above the metro median, supporting a durable tenant base and steady leasing.
Forward-looking demographics within a 3-mile radius point to increasing household counts and smaller average household sizes, which can expand the renter pool for efficient floor plans. Risks include modestly softer occupancy versus prior years, below-national safety positioning, and some competition from relatively accessible ownership options—factors best addressed through disciplined renovations, lease management, and resident experience initiatives.
- Above-median renter concentration supports a deep tenant base and consistent leasing
- 1976 vintage offers clear value-add pathways via targeted unit and systems upgrades
- Practical amenity mix (parks, groceries) favors retention at attainable rent levels
- 3-mile household growth and smaller household sizes expand demand for smaller units
- Risks: recent occupancy softening, below-national safety ranks, and ownership competition