| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 24th | Poor |
| Amenities | 31st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11715 S Glen Dr, Houston, TX, 77099, US |
| Region / Metro | Houston |
| Year of Construction | 1982 |
| Units | 118 |
| Transaction Date | 2014-08-19 |
| Transaction Price | $7,500,000 |
| Buyer | GPI SEDONA SQUARE LLC |
| Seller | MULTIFAMILY SUNWOOD VILLAGE ASSOCIATES L |
11715 S Glen Dr Houston Multifamily Investment
Renter-occupied concentration in the neighborhood is high, supporting a stable tenant base and workforce demand, according to WDSuite’s CRE market data. Accessible rents relative to the metro suggest steady leasing potential with attention to affordability management.
The property sits within Houston’s Urban Core where renter-occupied units represent a large share of housing, indicating depth in the tenant pool. Neighborhood occupancy is near the middle of the metro distribution and has softened over five years, so investors should underwrite leasing with prudent concessions and renewal strategies. Median contract rents in the area remain accessible versus many Houston submarkets, which can help sustain demand while requiring disciplined rent-to-income oversight.
Vintage matters: built in 1982, the asset is older than the neighborhood’s average construction year (1991). That positioning points to potential value-add through unit modernization, building systems upgrades, and common-area improvements to better compete with 1990s and newer stock while monitoring capital expenditure timing.
Local amenity access is mixed. Restaurant density ranks strong among national peers, while cafes, groceries, and parks are sparse in the immediate neighborhood. Pharmacy access is a relative strength. For family-oriented renters, the average neighborhood school rating trends below national norms; marketing and amenity programming may therefore lean more toward workforce and single/couple households unless targeted school-choice options are nearby.
Within a 3-mile radius, households have inched higher while population has edged down, implying smaller household sizes and a gradual shift in composition that still supports multifamily demand. Income levels have been rising across the radius, which can aid rent growth and retention if managed within reasonable rent-to-income thresholds. Forecasts indicate further household increases alongside smaller average household sizes, expanding the renter pool even if overall population growth is muted.
Relative to Houston neighborhoods (1,491 total), this area trends below metro averages on safety, with crime metrics placing it in the lower tiers and below most neighborhoods nationwide. For underwriting, operators typically emphasize on-site visibility, access control, and resident engagement programs; investors should calibrate security line items and monitor trend direction rather than relying on short-term fluctuations.
Proximity to energy, corporate services, and distribution headquarters provides a broad employment base that can support renter demand and retention through commute convenience. Notable nearby employers include National Oilwell Varco, Phillips 66, Sysco, and additional corporate services within a short drive.
- National Oilwell Varco Employees CU — credit union (2.24 miles)
- Abm SSC — facilities services (2.24 miles)
- National Oilwell Varco — oilfield services (2.27 miles) — HQ
- Phillips 66 — energy (5.07 miles) — HQ
- Sysco — food distribution (6.46 miles) — HQ
11715 S Glen Dr offers scale at 118 units with compact floor plans, positioning the asset for workforce demand segments seeking more accessible monthly rents. Based on CRE market data from WDSuite, the surrounding neighborhood shows a high share of renter-occupied housing, a supportive indicator for tenant base depth even as overall occupancy sits near the metro middle and has eased in recent years. The area’s restaurant and pharmacy access enhances daily convenience despite limited cafes, groceries, and parks within the immediate neighborhood.
Constructed in 1982, the property is older than the neighborhood average, suggesting clear value-add levers through interior upgrades and building systems improvements to improve competitive standing. Within a 3-mile radius, incomes have trended higher and households are projected to increase while household sizes contract, which can expand the renter pool and support leasing if operators manage rent-to-income levels and renewal strategies prudently.
- Scale and compact layouts support workforce renter demand and lease-up efficiency
- High renter-occupied concentration underpins tenant base depth and occupancy stability
- 1982 vintage presents value-add potential via unit, systems, and amenity upgrades
- Nearby energy and corporate HQs contribute diversified employment drivers
- Risks: below-metro safety metrics, softening neighborhood occupancy, and limited immediate groceries/parks offset by targeted operations and capex