| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 82nd | Best |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15815 Memorial Dr, Houston, TX, 77079, US |
| Region / Metro | Houston |
| Year of Construction | 1993 |
| Units | 104 |
| Transaction Date | 2025-07-24 |
| Transaction Price | $25,270,000 |
| Buyer | TAZONO URBAN CORPORATION |
| Seller | MEMORIAL MARQUIS LP |
15815 Memorial Dr Houston Multifamily Investment Opportunity
Positioned in a high-income West Houston pocket, this asset benefits from steady renter demand and elevated ownership costs that can support retention, according to WDSuite’s CRE market data. Thoughtful asset management can leverage neighborhood fundamentals while monitoring crime trends and supply dynamics.
The property sits in a suburban Houston neighborhood rated A and ranked 149 out of 1,491 metro neighborhoods, placing it in the top quartile regionally. Relative to national benchmarks, housing, amenities, and demographics score above average, suggesting durable fundamentals for multifamily investors based on CRE market data from WDSuite.
Local amenity access is anchored by restaurants and grocery options that compare favorably to national averages, while parks, pharmacies, and cafes are thinner nearby. School ratings trend slightly above the national median, which can support family-oriented renter appeal and longer tenancy in larger floorplans.
Within a 3‑mile radius (demographics aggregated at this scale), households and population have expanded, with household counts up over the last five years and projections indicating continued growth alongside smaller average household sizes. This points to a larger tenant base and more one- and two-person households entering the market—supportive for occupancy and absorption of well-configured units.
The area’s elevated home values and strong incomes indicate a high-cost ownership market, which tends to sustain reliance on rentals and can bolster pricing power and lease retention for competitive properties. Neighborhood rents sit in the upper tier for Houston, though growth can be uneven across submarkets, underscoring the importance of positioning and asset quality.
Vintage context: the asset’s 1993 construction is slightly older than the neighborhood’s average vintage (mid‑1990s). Investors should plan for targeted capital expenditures and modernization to remain competitive against newer stock, with potential value‑add upside in interiors, energy systems, and amenities.
Tenure dynamics: within 3 miles, renter-occupied housing comprises a majority of units, indicating a deep renter pool that supports demand stability for multifamily. This renter concentration, paired with high area incomes, can help underpin collections and reduce leasing volatility when managed carefully.
Safety indicators for the neighborhood are weaker than national averages. Crime metrics rank in the lower tiers among Houston neighborhoods (rank positions closer to the bottom of 1,491 indicate higher crime) and fall in low national percentiles, signaling a need for prudent on-site security measures and resident experience initiatives.
Recent estimates also show year-over-year increases in both property and violent offenses locally. For investors, this argues for thoughtful operating practices—lighting, access control, and partnerships with local patrols—while weighing the area’s strong employment and income base that can still support occupancy and rent collections.
Nearby headquarters and corporate offices in energy and services provide a sizable white‑collar employment base that supports renter demand and commute convenience for residents. The key demand drivers here include ConocoPhillips, Sysco, Phillips 66, Group 1 Automotive, and Wells Fargo Advisors.
- Conocophillips — energy HQ (1.5 miles) — HQ
- Sysco — foodservice distribution HQ (1.6 miles) — HQ
- Phillips 66 — energy HQ (5.2 miles) — HQ
- Group 1 Automotive — auto retail HQ (5.7 miles) — HQ
- Wells Fargo Advisors — financial services offices (6.8 miles)
This 104‑unit asset offers large average unit sizes and sits in a top‑quartile Houston neighborhood with strong income levels and elevated home values—factors that can reinforce rental demand and retention. The 3‑mile area shows expanding households and a diversified age mix, pointing to a growing tenant base and steady absorption potential. According to CRE market data from WDSuite, local amenities are strongest in restaurants and grocery access, with schools hovering modestly above national medians, supporting livability for a range of renter profiles.
Built in 1993, the property is slightly older than nearby stock and is well‑positioned for strategic upgrades—interiors, energy efficiency, and resident amenities—to compete effectively with newer deliveries. While crime metrics require proactive operations and rent growth can vary by submarket, proximity to multiple headquarters and white‑collar employment hubs provides a durable demand driver for stabilized leasing.
- Top‑quartile Houston neighborhood with strong incomes and elevated ownership costs that support renter reliance
- Large average unit sizes suited for household retention and differentiated positioning
- Expanding 3‑mile household base points to a larger tenant pool and steady absorption
- Value‑add potential from 1993 vintage via targeted unit and systems upgrades
- Risks: below‑average safety indicators and uneven rent growth across submarkets require active management