| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 45th | Fair |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8800 Westplace Dr, Houston, TX, 77071, US |
| Region / Metro | Houston |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8800 Westplace Dr Houston Multifamily Investment
Neighborhood occupancy is holding in a resilient range and the area maintains steady renter demand, according to WDSuite’s CRE market data. This location offers income stability potential with operational upside through targeted upgrades rather than lease-up risk.
Located in Houston’s inner suburbs, the neighborhood is rated B and sits above the metro median (ranked 624 of 1,491 Houston neighborhoods). Renter demand is supported by a high concentration of renter-occupied units within a 3-mile radius (about two-thirds of housing), which points to a deep tenant base for multifamily assets and supports occupancy stability over time.
Neighborhood occupancy is 94.1% (neighborhood metric, not the property), placing the area above many comparable submarkets nationally. Housing indicators trend around the national upper-middle range, while rent-to-income levels suggest manageable affordability pressure—helpful for retention and measured rent growth management.
Daily conveniences are mixed: childcare and pharmacies track in higher national percentiles, while immediate cafe, grocery, and park density is limited. For investors, that typically favors auto-oriented residents and workforce renters who prioritize value and commute access over walkable retail.
Within a 3-mile radius, recent years show modest population softening but an increase in households and families, with forecasts calling for population growth and a notable expansion in households. Smaller average household sizes are expected, which can expand the renter pool and support demand for smaller units. Median home values in the area remain comparatively accessible for the Houston metro, which can introduce some competition with ownership; however, a substantial renter-occupied share continues to reinforce multifamily leasing depth.
The property’s 1985 vintage is older than the neighborhood’s average construction year (2003). That age spread often creates value-add potential through unit renovations, systems modernization, and exterior improvements to enhance competitive positioning against newer stock.
Safety trends in this neighborhood compare below national medians and are weaker than many Houston peers. Recent data indicate year-over-year increases in both property and violent offenses at the neighborhood level. Investors typically underwrite conservative loss-to-lease and operating assumptions in similar areas, emphasize lighting and access controls, and monitor local trendlines rather than relying on short-term fluctuations.
While the neighborhood does not rank among the top quartile nationally for safety, owners can mitigate perception and operational risk through active management, security-focused capital plans, and resident engagement. Framing risk comparatively at the neighborhood—not block—level is appropriate for investment analysis.
Proximity to energy and corporate services anchors supports a stable renter base, with commute-friendly access to National Oilwell Varco, ABM’s shared services, and Phillips 66 among others. These employers help underpin leasing demand and retention for workforce-oriented units.
- National Oilwell Varco Employees CU — financial services (3.0 miles)
- National Oilwell Varco — energy equipment & services (3.1 miles) — HQ
- Abm SSC — facility services (3.2 miles)
- Phillips 66 — energy (6.5 miles) — HQ
- Quanta Services — infrastructure contracting (7.2 miles) — HQ
This 48-unit, 1985-vintage asset competes in a renter-heavy pocket of Houston where neighborhood occupancy is solid and household growth within a 3-mile radius is projected to expand, increasing the tenant base over the next cycle. The vintage relative to the neighborhood’s newer stock creates a clear value-add pathway through interior upgrades and targeted systems work, with the goal of improving rent roll quality and reducing turnover. Based on CRE market data from WDSuite, local housing metrics sit around the upper-middle national range, and rent-to-income levels indicate capacity for disciplined revenue management rather than aggressive pushes.
Key considerations include below-median safety metrics and limited immediate walkable amenities, which call for pragmatic operating plans—enhanced security measures, resident experience investments, and marketing that emphasizes commute convenience to nearby employers. With measured capital planning, the asset can position competitively against newer product while capturing durable workforce demand.
- Renter-heavy submarket and solid neighborhood occupancy support income stability
- 1985 vintage relative to 2003 area average suggests actionable value-add upside
- Household growth within 3 miles expands the tenant base, aiding leasing velocity
- Proximity to major energy and corporate employers supports retention
- Risks: below-median safety and limited walkable retail require security and ops focus