| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 70th | Best |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8001 Woodway Dr, Houston, TX, 77063, US |
| Region / Metro | Houston |
| Year of Construction | 1974 |
| Units | 80 |
| Transaction Date | 2015-04-27 |
| Transaction Price | $7,875,000 |
| Buyer | WOODWAY GARDEN BCL LP |
| Seller | WOODWAY GARDEN INC |
8001 Woodway Dr, Houston TX Multifamily Investment
Renter demand is reinforced by a high neighborhood renter concentration and proximity to major employment nodes, according to WDSuite’s CRE market data. Expect steady leasing potential with room to compete on product quality and management execution.
This Urban Core location ranks 172 among 1,491 Houston-The Woodlands-Sugar Land neighborhoods, placing it in the top quartile locally for overall neighborhood quality. Dining and daily-needs access are competitive, with restaurant and pharmacy density performing in the upper national percentiles, while parks and childcare are limited within the neighborhood footprint. For investors, that combination supports convenience-driven renter appeal but suggests outdoor and family amenities may need to be addressed at the property level.
Neighborhood occupancy trends sit below national norms, indicating that leasing performance depends more on property positioning and operations than on scarcity. However, the housing stock shows a strong renter-occupied profile — roughly two-thirds of units are renter-occupied — which points to a deep tenant base and a market oriented toward multifamily. Median home values are elevated relative to local incomes, which can sustain reliance on rentals and support pricing power when product is upgraded or well-managed.
Within a 3-mile radius, demographics show population growth and meaningful household gains over the last five years, with forecasts calling for continued household expansion by 2028. Rising median incomes and smaller average household sizes point to a larger tenant base and steady absorption potential, particularly for well-finished units. According to WDSuite’s commercial real estate analysis, projected rent levels in the area are expected to trend upward, which supports a value-oriented renovation and revenue management strategy.
Schools in the area are around the metro mid-range, and amenity access (grocers, cafes, and pharmacies) is strong compared with national peers. Taken together, location fundamentals favor renter retention, while lower neighborhood occupancy underscores the importance of competitive finishes, amenity programming, and targeted leasing to outperform.
Safety indicators for the neighborhood track below the metro median among 1,491 Houston-area neighborhoods and fall in the lower tiers nationally. Recent readings reflect elevated property and violent offense rates relative to national benchmarks, with some year-over-year increases.
For investors, this calls for pragmatic measures: emphasize on-site security practices, lighting, access control, and resident engagement to support retention and leasing performance. Framing the property’s security posture and management responsiveness can help mitigate perception risk during marketing and renewals.
The property sits near several corporate offices that underpin a diverse white-collar employment base and support weekday demand and commute convenience for renters. Nearby anchors include Apache, Quanta Services, Wells Fargo Advisors, Group 1 Automotive, and Phillips 66.
- Apache — energy HQ (2.7 miles) — HQ
- Quanta Services — infrastructure services (2.9 miles) — HQ
- Wells Fargo Advisors — financial services (2.9 miles)
- Group 1 Automotive — auto retail (3.2 miles) — HQ
- Phillips 66 — energy (3.2 miles) — HQ
The location offers a renter-oriented housing mix, strong access to daily amenities, and proximity to major office employers — all conducive to tenant demand and retention. While neighborhood occupancy is below national benchmarks, the depth of the renter base and improving 3-mile household and income trends point to resilient leasing when product is competitively positioned. According to commercial real estate analysis from WDSuite, forward rent expectations are constructive, favoring value-focused capex and disciplined revenue management.
Risk management will matter: safety metrics and lower neighborhood occupancy signal the need for visible security measures and hands-on operations. Executed well, the property can leverage location fundamentals to capture demand and stabilize at or above submarket averages over time.
- Renter-heavy neighborhood supports a deeper tenant base and demand stability.
- Strong access to restaurants, groceries, and pharmacies enhances day-to-day livability.
- Household and income growth within 3 miles expands the pool of prospective renters.
- Potential to outperform via upgrades, amenity programming, and focused leasing.
- Risks: below-national occupancy and safety perceptions require proactive security and operational execution.