| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 89th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1945 W Bell St, Houston, TX, 77019, US |
| Region / Metro | Houston |
| Year of Construction | 1997 |
| Units | 44 |
| Transaction Date | 2008-06-26 |
| Transaction Price | $4,750,000 |
| Buyer | PLAZA JJP LLC |
| Seller | PLAZA AT RIVER OAKS LTD |
1945 W Bell St Houston Multifamily Investment
Positioned in Houstons Urban Core, the property benefits from strong neighborhood amenities and a deep white-collar renter base, according to WDSuites CRE market data. Neighborhood occupancy is around 88% with stable five-year trends, supporting steady leasing dynamics.
Located in an A+ rated Urban Core neighborhood, this address sits in one of Houstons more competitive areas for renters (19th of 1,491 metro neighborhoods). Amenity access is a clear strength: the area ranks 47th of 1,491 locally and lands in the top quartile nationally, with restaurant and grocery density among the strongest in the region. These features translate into day-to-day convenience that helps sustain leasing velocity and retention.
Renter-occupied housing accounts for roughly 46% of neighborhood units, indicating a sizable tenant base for multifamily demand. Within a 3-mile radius, households have grown materially over the past five years and are projected to continue expanding, pointing to a larger tenant pool and support for occupancy stability. Median household income in the 3-mile area is high relative to many U.S. urban districts, which can underpin rent collections and renewals for well-positioned assets.
Home values in the neighborhood are elevated compared with national norms, which, combined with a rent-to-income ratio near 0.21 at the neighborhood level, suggests a high-cost ownership market where multifamily remains a more accessible option for many households. For investors, this typically supports demand depth and can aid pricing power for renovated, well-managed units.
The propertys 1997 vintage is newer than the neighborhoods average construction year (1972). That relative youth can be a competitive advantage versus older stock, while still leaving room for targeted modernization and systems updates to capture value-add upside.
Safety indicators here are weaker than many Houston neighborhoods and below national norms. The area ranks 1,249th of 1,491 metro neighborhoods for crime, placing it below the metro median, and falls in a low national safety percentile. Recent year-over-year estimates point to increases in both property and violent offenses. Investors typically address this with enhanced security measures, lighting, access controls, and resident engagement, and by underwriting accordingly.
Framing this comparatively: the neighborhood does not sit in the top quartile nationally for safety, and current trends warrant conservative assumptions on insurance, security operating expenses, and potential reputation management. Monitoring local trendlines and coordinating with experienced property management can help mitigate risk over the hold period.
Proximity to a dense cluster of energy and midstream headquarters supports white-collar renter demand and commute convenience. Nearby employers include Baker Hughes, Plains GP Holdings, EOG Resources, Enterprise Products Partners, and Targa Resources.
- Baker Hughes corporate offices/energy (0.7 miles) HQ
- Plains GP Holdings corporate offices/midstream energy (2.0 miles) HQ
- Eog Resources corporate offices/energy (2.1 miles) HQ
- Enterprise Products Partners corporate offices/midstream energy (2.1 miles) HQ
- Targa Resources corporate offices/midstream energy (2.2 miles) HQ
This 44-unit, 1997-vintage asset is positioned in a high-amenity Houston Urban Core location with a sizable renter base and strong access to energy-sector employment. According to CRE market data from WDSuite, neighborhood occupancy is near 88% with minimal change over five years, suggesting steady baseline demand. Elevated neighborhood home values and high median incomes within a 3-mile radius reinforce renter reliance on multifamily housing and support collections and renewal potential for well-operated assets.
The assets vintage is newer than the neighborhood average, offering relative competitiveness versus older buildings while leaving room for value-add through unit updates and common-area improvements. Demographic trends within 3 miles point to increasing households and continued renter pool expansion, which can underpin leasing stability and selective rent growth, while safety metrics and operating costs should be underwritten conservatively.
- Urban Core location with top-quartile amenities and strong daily convenience
- 1997 vintage offers competitive positioning with value-add modernization potential
- High-income 3-mile renter base and elevated ownership costs support demand depth
- Nearby energy headquarters cluster supports white-collar leasing and retention
- Risk: below-average safety metrics and related operating costs warrant conservative underwriting