| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 36th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 Bernice Ave, Odessa, TX, 79763, US |
| Region / Metro | Odessa |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
901 Bernice Ave Odessa Multifamily Investment
Renter concentration in the surrounding neighborhood supports a consistent tenant base even as local occupancy trends sit below metro norms, according to WDSuite’s CRE market data.
Located in Odessa’s inner-suburb fabric, the area blends workforce housing with everyday conveniences. Dining access is a relative strength, with restaurant density competitive among Odessa neighborhoods and ample pharmacy options nearby, while grocery and park access are thinner locally. For investors, this mix can support day-to-day livability and leasing, even if residents may travel slightly farther for groceries or green space.
Neighborhood occupancy is below the metro median (ranked 39 out of 39 neighborhoods), signaling a submarket where operational execution and asset differentiation matter. At the same time, renter-occupied housing comprises a meaningful share of units (above metro median by rank), which helps sustain demand depth for multifamily product and can aid leasing stability when positioning is clear.
Within a 3-mile radius, population has edged down in recent years while household counts have increased and are projected to expand further as average household size declines. This points to more, smaller households entering the market—supportive for multifamily demand, particularly for efficient floor plans and value-focused units that can stabilize occupancy.
Ownership remains more accessible here than in many U.S. markets, which can introduce some competition from for-sale options. However, rents remain generally manageable relative to incomes in the 3-mile area, helping lease retention and offering room for disciplined pricing without overextending affordability.
Safety indicators in the neighborhood sit below the metro median (ranked 29 out of 39), placing the area below average compared with neighborhoods nationwide. Recent trends are mixed: violent incidents show a year-over-year decline, while property offenses have ticked up. For underwriting, this suggests attention to security, lighting, and resident screening as part of operational plans.
Constructed in 1978 with a 24-unit scale, the property offers a practical value-add profile in a neighborhood where renter-occupied housing is comparatively prevalent and daily needs are largely met by strong dining and pharmacy access. Although neighborhood occupancy trends are weaker than the metro median, household growth within a 3-mile radius—driven by smaller household sizes—supports a larger tenant base over time, which can aid leasing and renewal performance with the right positioning and management.
Homeownership is relatively accessible in this part of Odessa, which can temper pricing power; however, rents are generally aligned with local incomes, supporting retention and measured growth. According to commercial real estate analysis from WDSuite, the surrounding area’s amenity mix and renter concentration can help offset softer neighborhood occupancy by emphasizing value, unit functionality, and operational consistency.
- 1978 vintage creates clear value-add avenues (interiors, systems, curb appeal) to compete against older stock.
- Renter-occupied share above the metro median by rank supports depth of tenant demand for multifamily.
- Strong dining and pharmacy access enhance day-to-day livability and leasing appeal.
- Smaller average household sizes within 3 miles suggest ongoing renter pool expansion and unit absorption potential.
- Risk: Neighborhood occupancy ranks at the bottom of the metro, requiring proactive asset management and competitive positioning.