| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 31st | Fair |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17610 Cali Dr, Houston, TX, 77090, US |
| Region / Metro | Houston |
| Year of Construction | 1977 |
| Units | 82 |
| Transaction Date | 2021-12-08 |
| Transaction Price | $15,465,240 |
| Buyer | FWCI 03-17610 CALI DR LLC |
| Seller | NORTH COUNTRY CLUB LLC |
17610 Cali Dr Houston Multifamily Value-Add Play
Positioned in a renter-heavy Houston submarket, this 82-unit 1977 asset offers value-add potential and demand depth even as neighborhood occupancy trends require hands-on leasing, according to CRE market data from WDSuite.
The property sits in an Inner Suburb pocket of Houston where renter-occupied housing is elevated (neighborhood renter concentration is 68.1%), indicating a broad tenant base for multifamily owners. Neighborhood occupancy is comparatively soft, which points to the need for proactive leasing and renewal management to sustain cash flow.
Amenity access is mixed: park availability scores in the top quartile nationally (96th percentile), while everyday retail like groceries, pharmacies, cafes, and restaurants is limited within the immediate neighborhood. For investors, that combination typically supports livability through open space while relying more on nearby corridors for daily needs.
Within a 3-mile radius, the renter share is roughly even with owners (about half of units renter-occupied), and the median contract rent is in the mid-$1,100s, with WDSuite’s multifamily property research indicating continued rent growth in the near term. Population and household counts within 3 miles are projected to increase, expanding the local renter pool and supporting occupancy stability over a longer horizon.
Relative to the Houston-The Woodlands-Sugar Land metro, the neighborhood’s overall rank is 1,155 out of 1,491, placing it below the metro median, yet select fundamentals remain investable. Median home values in the neighborhood sit in a high-cost ownership context (89th percentile nationally on value-to-income), which can sustain rental demand and support lease retention, particularly for well-managed, renovated units.
Safety metrics are mixed in this neighborhood compared with Houston peers and U.S. neighborhoods. Overall crime levels rank below average locally (ranked 745 among 1,491 metro neighborhoods) and fall in lower national percentiles, indicating elevated incidents relative to many U.S. areas. Property offenses have eased year over year, while violent offense estimates have increased, underscoring the importance of active security measures and resident engagement.
For investors, the takeaway is risk management rather than avoidance: trends point to monitoring and mitigation (lighting, access control, partnerships with local patrol) as part of the operating plan, with attention to resident communications and insurance considerations.
- Centerpoint Energy — utilities (7.9 miles)
- Halliburton — energy services (8.7 miles) — HQ
- Hewlett Packard Enterprise Customer Engagement Center — technology services (8.9 miles)
- McKesson Specialty Health — healthcare distribution (9.3 miles)
- Anadarko Petroleum — energy (9.5 miles) — HQ
Nearby corporate employers underpin daily demand drivers and commuting convenience for renters, including energy, healthcare distribution, and technology services represented below.
Built in 1977, the asset is older than the neighborhood average vintage, suggesting clear value-add and capital planning angles (exterior/interior refresh, systems modernization) to improve competitiveness and durability versus the local stock. A renter-heavy neighborhood (68.1% renter-occupied) and a balanced 3-mile renter base support depth of demand, while the high-cost ownership landscape in the neighborhood can reinforce multifamily reliance and lease retention for renovated units. According to commercial real estate analysis from WDSuite, neighborhood occupancy runs soft, so execution hinges on leasing focus and expense discipline.
Demographic indicators within a 3-mile radius point to projected population and household growth over the next five years, expanding the tenant base and supporting absorption. Amenity trade-offs (strong park access, thinner daily retail in the immediate area) place a premium on onsite offerings and management quality to drive retention and pricing power.
- 1977 vintage supports a targeted value-add plan and systems upgrades
- Renter concentration and projected 3-mile household growth expand the tenant base
- High-cost ownership context can sustain rental demand and renewals
- Soft neighborhood occupancy elevates the importance of leasing execution and expense control
- Amenity-light immediate area increases reliance on onsite offerings and nearby corridors